TD Asset Management Inc. Has $609,000 Position in Heritage Commerce Corp (HTBK)
TD Asset Management Inc. increased its stake in shares of Heritage Commerce Corp (NASDAQ:HTBK) by 12.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 44,169 shares of the financial services provider’s stock after buying an additional 4,816 shares during the period. TD Asset Management Inc. owned 0.12% of Heritage Commerce Corp worth $609,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. IFP Advisors Inc bought a new position in shares of Heritage Commerce Corp during the second quarter valued at $132,000. Two Sigma Securities LLC bought a new position in shares of Heritage Commerce Corp during the first quarter valued at $150,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Heritage Commerce Corp during the first quarter valued at $196,000. Stevens Capital Management LP increased 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 period. Finally, CAPROCK Group Inc. bought a new position in shares of Heritage Commerce Corp during the second quarter valued at $198,000. Institutional investors own 69.47% of the company’s stock.
Shares of Heritage Commerce Corp (HTBK) opened at 13.41 on Thursday. Heritage Commerce Corp has a 12-month low of $10.23 and a 12-month high of $14.87. The stock has a 50 day moving average price of $13.73 and a 200 day moving average price of $13.85. The firm has a market capitalization of $511.32 million, a PE ratio of 18.40 and a beta of 0.52.
Heritage Commerce Corp (NASDAQ:HTBK) last issued its quarterly earnings results on Thursday, July 27th. The financial services provider reported $0.19 EPS for the quarter, hitting the consensus estimate of $0.19. Heritage Commerce Corp had a net margin of 25.75% and a return on equity of 10.61%. The firm had revenue of $27.23 million for the quarter, compared to analysts’ expectations of $27.90 million. Analysts predict that Heritage Commerce Corp will post $0.78 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, August 24th. Shareholders of record on Thursday, August 10th were given a dividend of $0.10 per share. The ex-dividend date was Tuesday, August 8th. This represents a $0.40 annualized dividend and a yield of 2.98%. Heritage Commerce Corp’s dividend payout ratio (DPR) is presently 54.79%.
Several analysts have recently commented on HTBK shares. ValuEngine raised Heritage Commerce Corp from a “hold” rating to a “buy” rating in a report on Tuesday, July 11th. BidaskClub cut Heritage Commerce Corp from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 22nd. Zacks Investment Research raised Heritage Commerce Corp from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. Finally, Brean Capital reissued a “buy” rating on shares of Heritage Commerce Corp in a report on Thursday, August 3rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $15.50.
In other Heritage Commerce Corp news, Director J Philip Dinapoli purchased 5,000 shares of the business’s stock in a transaction on Thursday, August 10th. The shares were purchased at an average cost of $13.53 per share, with a total value of $67,650.00. Following the transaction, the director now directly owns 163,376 shares of the company’s stock, valued at approximately $2,210,477.28. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Komas Julianne M. Biagini sold 3,650 shares of the business’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $13.65, for a total transaction of $49,822.50. Following the sale, the director now directly owns 25,696 shares in the company, valued at $350,750.40. The disclosure for this sale can be found here. Insiders own 5.69% of the company’s stock.
About Heritage Commerce Corp
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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