JPMorgan Chase & Co. Boosts Holdings in Heritage Commerce Corp $HTBK

JPMorgan Chase & Co. boosted its stake in shares of Heritage Commerce Corp (NASDAQ:HTBK) by 2.4% during the 3rd quarter, Holdings Channel.com reports. The firm owned 1,883,705 shares of the financial services provider’s stock after purchasing an additional 44,948 shares during the quarter. JPMorgan Chase & Co.’s holdings in Heritage Commerce were worth $18,705,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. State of New Jersey Common Pension Fund D increased its holdings in Heritage Commerce by 0.7% in the third quarter. State of New Jersey Common Pension Fund D now owns 218,384 shares of the financial services provider’s stock valued at $2,169,000 after buying an additional 1,423 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Heritage Commerce by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,402 shares of the financial services provider’s stock worth $337,000 after acquiring an additional 1,482 shares during the period. Diversified Trust Co boosted its stake in shares of Heritage Commerce by 9.2% during the 3rd quarter. Diversified Trust Co now owns 20,469 shares of the financial services provider’s stock worth $203,000 after acquiring an additional 1,717 shares in the last quarter. Mariner LLC grew its position in shares of Heritage Commerce by 2.6% during the 3rd quarter. Mariner LLC now owns 68,844 shares of the financial services provider’s stock valued at $684,000 after acquiring an additional 1,730 shares during the period. Finally, Parkside Financial Bank & Trust grew its position in shares of Heritage Commerce by 56.5% during the 3rd quarter. Parkside Financial Bank & Trust now owns 5,026 shares of the financial services provider’s stock valued at $50,000 after acquiring an additional 1,815 shares during the period. Hedge funds and other institutional investors own 75.55% of the company’s stock.

Wall Street Analysts Forecast Growth

HTBK has been the subject of a number of analyst reports. Stephens reaffirmed an “equal weight” rating on shares of Heritage Commerce in a report on Monday, January 5th. Janney Montgomery Scott lowered Heritage Commerce from a “buy” rating to a “neutral” rating and raised their price objective for the company from $12.00 to $14.00 in a report on Monday, December 22nd. Zacks Research upgraded Heritage Commerce from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 11th. Raymond James Financial downgraded Heritage Commerce from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 7th. Finally, DA Davidson reiterated a “neutral” rating and set a $14.50 target price on shares of Heritage Commerce in a research report on Wednesday, February 4th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $12.25.

Heritage Commerce Stock Down 0.3%

NASDAQ HTBK opened at $12.37 on Thursday. The business has a fifty day moving average price of $12.80 and a 200 day moving average price of $11.56. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.74 and a current ratio of 0.74. The company has a market cap of $761.91 million, a P/E ratio of 15.86 and a beta of 0.79. Heritage Commerce Corp has a one year low of $8.09 and a one year high of $13.82.

Heritage Commerce (NASDAQ:HTBK) last announced its earnings results on Thursday, January 22nd. The financial services provider reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.05. Heritage Commerce had a net margin of 17.77% and a return on equity of 8.07%. The company had revenue of $104.04 million for the quarter, compared to analysts’ expectations of $50.78 million. Research analysts anticipate that Heritage Commerce Corp will post 0.8 EPS for the current fiscal year.

Heritage Commerce Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 8th. Investors of record on Wednesday, March 25th will be given a dividend of $0.13 per share. The ex-dividend date is Wednesday, March 25th. This represents a $0.52 dividend on an annualized basis and a yield of 4.2%. Heritage Commerce’s payout ratio is presently 66.67%.

Heritage Commerce Company Profile

Heritage Commerce Corporation, headquartered in Farmington Hills, Michigan, is the bank holding company for Heritage Bank, N.A., a community-oriented financial institution. Traded on NASDAQ under the symbol HTBK, the company focuses on delivering tailored banking services to businesses, professionals and individuals throughout Southeastern Michigan.

Heritage Bank, N.A. offers a comprehensive portfolio of deposit and lending products designed to meet the needs of commercial and consumer clients.