Goldman Sachs Group Inc. Acquires 278 Shares of Heritage Commerce Corp (HTBK)
Goldman Sachs Group Inc. raised its stake in shares of Heritage Commerce Corp (NASDAQ:HTBK) by 1.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,613 shares of the financial services provider’s stock after buying an additional 278 shares during the period. Goldman Sachs Group Inc.’s holdings in Heritage Commerce Corp were worth $234,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Two Sigma Securities LLC acquired a new position in shares of Heritage Commerce Corp during the first quarter valued at $150,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Heritage Commerce Corp during the first quarter valued at $196,000. Stevens Capital Management LP raised its position in shares of 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 valued at $197,000 after buying an additional 2,308 shares during the last quarter. Oxford Asset Management acquired a new position in shares of Heritage Commerce Corp during the first quarter valued at $212,000. Finally, American International Group Inc. raised its position in shares of 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 valued at $226,000 after buying an additional 1,038 shares during the last quarter. 69.47% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Heritage Commerce Corp (HTBK) traded down 0.74% during trading on Tuesday, reaching $13.49. 13,656 shares of the company traded hands. The stock has a market cap of $514.37 million, a P/E ratio of 18.50 and a beta of 0.52. The stock’s 50 day moving average price is $13.73 and its 200-day moving average price is $13.85. Heritage Commerce Corp has a 12 month low of $10.23 and a 12 month high of $14.87.
Heritage Commerce Corp (NASDAQ:HTBK) last announced its earnings results on Thursday, July 27th. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.19. The company had revenue of $27.23 million for the quarter, compared to analysts’ expectations of $27.90 million. Heritage Commerce Corp had a return on equity of 10.61% and a net margin of 25.75%. On average, equities research analysts expect that Heritage Commerce Corp will post $0.78 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, August 24th. Investors of record on Thursday, August 10th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Tuesday, August 8th. This represents a $0.40 annualized dividend and a dividend yield of 2.94%. Heritage Commerce Corp’s payout ratio is 54.79%.
Several equities analysts recently weighed in on the stock. Brean Capital set a $16.00 price objective on shares of Heritage Commerce Corp and gave the company a “buy” rating in a research report on Friday, July 28th. BidaskClub lowered shares of Heritage Commerce Corp from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Zacks Investment Research lowered shares of Heritage Commerce Corp from a “hold” rating to a “sell” rating in a research report on Wednesday, May 3rd. Finally, ValuEngine lowered shares of Heritage Commerce Corp from a “buy” rating to a “hold” rating in a research report on Tuesday, August 22nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $15.50.
In related news, Director J Philip Dinapoli bought 5,000 shares of the business’s stock in a transaction that occurred on Thursday, August 10th. The shares were bought at an average price of $13.53 per share, with a total value of $67,650.00. Following the completion of the transaction, the director now directly owns 163,376 shares in the company, valued at $2,210,477.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.69% of the stock is owned by insiders.
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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