Zacks Investment Research lowered shares of Heritage Commerce Corp (NASDAQ:HTBK) from a buy rating to a hold rating in a report issued on Monday morning.

According to Zacks, “Heritage Commerce Corp. is the holding company of Heritage Bank of Commerce, Heritage Bank East Bay, Heritage Bank South Valley and Bank of Los Altos. The company offers a range of loans, primarily commercial, including real estate, construction, Small Business Administration), inventory and accounts receivable, and equipment loans. The company also accepts checking, savings, and time deposits; NOW and money market deposit accounts; and provides travelers’ checks, safe deposit, and other customary non-deposit banking services. “

HTBK has been the subject of several other research reports. Brean Capital restated a buy rating on shares of Heritage Commerce Corp in a research report on Monday. BidaskClub cut shares of Heritage Commerce Corp from a hold rating to a sell rating in a research report on Friday, July 28th. Finally, ValuEngine cut shares of Heritage Commerce Corp from a buy rating to a hold rating in a research report on Tuesday, August 22nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus target price of $16.00.

Heritage Commerce Corp (NASDAQ:HTBK) last posted its quarterly earnings data on Thursday, October 26th. The financial services provider reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.01. The firm had revenue of $28.78 million during the quarter, compared to analysts’ expectations of $28.70 million. Heritage Commerce Corp had a net margin of 26.40% and a return on equity of 11.27%.

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The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 21st. Stockholders of record on Tuesday, November 7th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 2.60%. The ex-dividend date of this dividend is Monday, November 6th. Heritage Commerce Corp’s dividend payout ratio (DPR) is presently 51.95%.

In other news, Director Komas Julianne M. Biagini sold 3,650 shares of the firm’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $13.65, for a total value of $49,822.50. Following the transaction, the director now owns 25,696 shares of the company’s stock, valued at approximately $350,750.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director J Philip Dinapoli bought 5,000 shares of Heritage Commerce Corp stock in a transaction dated Thursday, August 10th. The stock was acquired at an average cost of $13.53 per share, for a total transaction of $67,650.00. Following the purchase, the director now directly owns 163,376 shares in the company, valued at approximately $2,210,477.28. The disclosure for this purchase can be found here. 5.69% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. Goldman Sachs Group Inc. boosted its stake in shares of Heritage Commerce Corp by 1.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 16,613 shares of the financial services provider’s stock valued at $234,000 after purchasing an additional 278 shares during the last quarter. John W. Rosenthal Capital Management Inc. boosted its stake in Heritage Commerce Corp by 3.0% during the 2nd quarter. John W. Rosenthal Capital Management Inc. now owns 160,100 shares of the financial services provider’s stock worth $2,206,000 after acquiring an additional 4,700 shares during the last quarter. PDT Partners LLC bought a new position in Heritage Commerce Corp during the 2nd quarter worth approximately $413,000. American International Group Inc. boosted its stake in Heritage Commerce Corp by 6.9% during the 1st quarter. American International Group Inc. now owns 16,039 shares of the financial services provider’s stock worth $226,000 after acquiring an additional 1,038 shares during the last quarter. Finally, Swiss National Bank bought a new position in Heritage Commerce Corp during the 2nd quarter worth approximately $827,000. 69.47% of the stock is currently owned by institutional investors.

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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