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

JPMorgan Chase & Co. lifted its holdings in shares of Heritage Commerce Corp (NASDAQ:HTBK) by 2.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,883,705 shares of the financial services provider’s stock after acquiring an additional 44,948 shares during the quarter. JPMorgan Chase & Co. owned approximately 3.07% of Heritage Commerce worth $18,705,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in HTBK. State of New Jersey Common Pension Fund D boosted 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 acquiring an additional 1,423 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Heritage Commerce by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,402 shares of the financial services provider’s stock worth $337,000 after purchasing an additional 1,482 shares during the period. Diversified Trust Co lifted its position in shares of Heritage Commerce by 9.2% in the 3rd quarter. Diversified Trust Co now owns 20,469 shares of the financial services provider’s stock worth $203,000 after purchasing an additional 1,717 shares during the period. Parkside Financial Bank & Trust boosted its stake 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 purchasing an additional 1,815 shares in the last quarter. Finally, First Trust Advisors LP increased its position in shares of Heritage Commerce by 6.7% during the second quarter. First Trust Advisors LP now owns 40,363 shares of the financial services provider’s stock valued at $401,000 after buying an additional 2,551 shares during the period. Hedge funds and other institutional investors own 75.55% of the company’s stock.

Heritage Commerce Stock Performance

Shares of HTBK opened at $12.62 on Tuesday. The company has a market cap of $776.89 million, a price-to-earnings ratio of 16.18 and a beta of 0.79. The business’s fifty day simple moving average is $12.81 and its two-hundred day simple moving average is $11.31. Heritage Commerce Corp has a 12 month low of $8.09 and a 12 month high of $13.82. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.06.

Heritage Commerce (NASDAQ:HTBK) last announced its quarterly earnings results on Thursday, January 22nd. The financial services provider reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.05. Heritage Commerce had a return on equity of 8.10% and a net margin of 17.77%.The firm had revenue of $53.62 million for the quarter, compared to the consensus estimate of $50.78 million. Research analysts anticipate that Heritage Commerce Corp will post 0.8 earnings per share for the current fiscal year.

Heritage Commerce Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 19th. Stockholders of record on Thursday, February 5th were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend was Thursday, February 5th. Heritage Commerce’s dividend payout ratio (DPR) is presently 66.67%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Zacks Research lowered shares of Heritage Commerce from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. Raymond James Financial lowered Heritage Commerce from an “outperform” rating to a “market perform” rating in a research report on Wednesday, January 7th. Wall Street Zen lowered Heritage Commerce from a “hold” rating to a “sell” rating in a research report on Saturday, December 20th. DA Davidson reaffirmed a “neutral” rating and issued a $14.50 price target on shares of Heritage Commerce in a research note on Wednesday, February 4th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Heritage Commerce in a report on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, Heritage Commerce has a consensus rating of “Hold” and an average target price of $12.25.

Heritage Commerce 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.