Dimensional Fund Advisors LP Increases Stake in Heritage Commerce Corp (NASDAQ:HTBK)
Dimensional Fund Advisors LP increased its position in Heritage Commerce Corp (NASDAQ:HTBK) by 9.2% during the first quarter, Holdings Channel reports. The fund owned 1,460,283 shares of the financial services provider’s stock after buying an additional 122,917 shares during the period. Dimensional Fund Advisors LP’s holdings in Heritage Commerce Corp were worth $20,590,000 at the end of the most recent quarter.
Several other hedge funds also recently bought and sold shares of the company. Dynamic Technology Lab Private Ltd bought a new stake in Heritage Commerce Corp during the first quarter worth $196,000. Stevens Capital Management LP boosted its stake in Heritage Commerce Corp by 19.8% in the first quarter. Stevens Capital Management LP now owns 13,974 shares of the financial services provider’s stock worth $197,000 after buying an additional 2,308 shares during the last quarter. Oxford Asset Management bought a new stake in Heritage Commerce Corp during the first quarter worth $212,000. American International Group Inc. boosted its stake in Heritage Commerce Corp by 6.9% in the first quarter. American International Group Inc. now owns 16,039 shares of the financial services provider’s stock worth $226,000 after buying an additional 1,038 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in Heritage Commerce Corp during the first quarter worth $264,000. 69.44% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Heritage Commerce Corp (NASDAQ:HTBK) traded down 0.97% during mid-day trading on Friday, hitting $13.23. 6,842 shares of the company traded hands. The stock has a market capitalization of $504.46 million, a PE ratio of 18.15 and a beta of 0.52. The firm’s 50 day moving average price is $13.77 and its 200-day moving average price is $13.91. Heritage Commerce Corp has a 1-year low of $10.23 and a 1-year high of $14.87.
Heritage Commerce Corp (NASDAQ:HTBK) last posted its quarterly earnings data on Thursday, July 27th. The financial services provider reported $0.19 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.19. The firm had revenue of $27.23 million for the quarter, compared to analysts’ expectations of $27.90 million. Heritage Commerce Corp had a net margin of 25.75% and a return on equity of 10.61%. On average, equities research analysts forecast that Heritage Commerce Corp will post $0.78 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 24th. Stockholders of record on Thursday, August 10th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 2.99%. The ex-dividend date of this dividend is Tuesday, August 8th. Heritage Commerce Corp’s dividend payout ratio (DPR) is currently 54.79%.
A number of research firms have weighed in on HTBK. Brean Capital reaffirmed a “buy” rating on shares of Heritage Commerce Corp in a research note on Thursday, August 3rd. Zacks Investment Research raised shares of Heritage Commerce Corp from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. BidaskClub cut shares of Heritage Commerce Corp from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Finally, ValuEngine raised shares of Heritage Commerce Corp from a “hold” rating to a “buy” rating in a research note on Tuesday, July 11th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $15.50.
Heritage Commerce Corp Company Profile
Heritage Commerce Corp is a bank holding company. The Company, through its subsidiary Heritage Bank of Commerce (the Bank), provides a range of banking services. The Bank is a California state-chartered multi-community independent bank that offers a range of commercial banking services to small and medium-sized businesses and their owners, managers and employees.
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