Heritage Commerce Corp (HTBK) Shares Sold by Stieven Capital Advisors L.P.
Stieven Capital Advisors L.P. reduced its stake in Heritage Commerce Corp (NASDAQ:HTBK) by 0.2% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 323,809 shares of the financial services provider’s stock after selling 600 shares during the period. Stieven Capital Advisors L.P. owned 0.85% of Heritage Commerce Corp worth $4,462,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in the company. Legal & General Group Plc boosted its stake in Heritage Commerce Corp by 20.4% in the second quarter. Legal & General Group Plc now owns 7,903 shares of the financial services provider’s stock valued at $109,000 after buying an additional 1,339 shares in the last quarter. IFP Advisors Inc bought a new stake in Heritage Commerce Corp during the second quarter valued at about $132,000. Two Sigma Securities LLC bought a new stake in Heritage Commerce Corp during the first quarter valued at about $150,000. Dynamic Technology Lab Private Ltd bought a new stake in Heritage Commerce Corp during the first quarter valued at about $196,000. Finally, 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 valued at $197,000 after buying an additional 2,308 shares in the last quarter. 69.47% of the stock is currently owned by institutional investors and hedge funds.
Heritage Commerce Corp (NASDAQ:HTBK) opened at 13.59 on Tuesday. The firm has a market capitalization of $518.19 million, a PE ratio of 18.64 and a beta of 0.52. The stock’s 50 day moving average is $13.73 and its 200-day moving average is $13.85. Heritage Commerce Corp has a 52-week low of $10.23 and a 52-week high of $14.87.
Heritage Commerce Corp (NASDAQ:HTBK) last posted its earnings results on Thursday, July 27th. The financial services provider reported $0.19 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.19. The business had revenue of $27.23 million for the quarter, compared to analyst estimates of $27.90 million. Heritage Commerce Corp had a return on equity of 10.61% and a net margin of 25.75%. Equities analysts expect that Heritage Commerce Corp will post $0.78 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, August 24th. Investors of record on Thursday, August 10th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date of this dividend was Tuesday, August 8th. Heritage Commerce Corp’s payout ratio is presently 54.79%.
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A number of research analysts have weighed in on the stock. Brean Capital set a $16.00 price target on shares of Heritage Commerce Corp and gave the company a “buy” rating in a research report on Friday, July 28th. BidaskClub cut shares of Heritage Commerce Corp from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Zacks Investment Research cut shares of Heritage Commerce Corp from a “hold” rating to a “sell” rating in a research report on Wednesday, May 3rd. 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, three have issued a hold rating and one has given a buy rating to the company. Heritage Commerce Corp presently has an average rating of “Hold” and a consensus target price of $15.50.
In other Heritage Commerce Corp news, Director J Philip Dinapoli bought 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The shares were acquired at an average cost of $13.53 per share, with a total value of $67,650.00. Following the acquisition, the director now owns 163,376 shares of the company’s stock, valued at $2,210,477.28. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.69% of the stock is currently 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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