Aigen Investment Management LP Reduces Position in Heritage Commerce Corp (NASDAQ:HTBK)

Aigen Investment Management LP decreased its holdings in shares of Heritage Commerce Corp (NASDAQ:HTBK) by 14.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,102 shares of the financial services provider’s stock after selling 2,157 shares during the quarter. Aigen Investment Management LP’s holdings in Heritage Commerce were worth $129,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Allspring Global Investments Holdings LLC boosted its position in shares of Heritage Commerce by 185.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 4,856 shares of the financial services provider’s stock valued at $42,000 after acquiring an additional 3,155 shares during the last quarter. nVerses Capital LLC acquired a new position in shares of Heritage Commerce during the 3rd quarter valued at about $73,000. CWM LLC boosted its position in shares of Heritage Commerce by 148.0% during the 2nd quarter. CWM LLC now owns 9,936 shares of the financial services provider’s stock valued at $86,000 after acquiring an additional 5,929 shares during the last quarter. ProShare Advisors LLC acquired a new position in shares of Heritage Commerce during the 1st quarter valued at about $91,000. Finally, One Wealth Advisors LLC acquired a new position in shares of Heritage Commerce during the 3rd quarter valued at about $99,000. Hedge funds and other institutional investors own 75.55% of the company’s stock.

Heritage Commerce Trading Down 0.2 %

NASDAQ HTBK opened at $10.65 on Monday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.73 and a quick ratio of 0.76. The stock has a market capitalization of $652.85 million, a P/E ratio of 15.00 and a beta of 0.93. The firm’s 50-day moving average is $9.92 and its two-hundred day moving average is $9.32. Heritage Commerce Corp has a 12 month low of $7.66 and a 12 month high of $11.01.

Heritage Commerce (NASDAQ:HTBK) last issued its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.17 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.17. The company had revenue of $63.68 million for the quarter, compared to analyst estimates of $43.14 million. Heritage Commerce had a net margin of 17.61% and a return on equity of 6.37%. On average, sell-side analysts anticipate that Heritage Commerce Corp will post 0.66 earnings per share for the current year.

Heritage Commerce Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th will be paid a dividend of $0.13 per share. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $0.52 dividend on an annualized basis and a yield of 4.88%. Heritage Commerce’s dividend payout ratio (DPR) is presently 73.24%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Keefe, Bruyette & Woods upped their target price on shares of Heritage Commerce from $10.50 to $11.50 and gave the company an “outperform” rating in a research report on Friday, July 26th. StockNews.com raised shares of Heritage Commerce from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. Finally, Piper Sandler upped their target price on shares of Heritage Commerce from $10.00 to $12.00 and gave the company an “overweight” rating in a research report on Friday, July 26th.

Heritage Commerce Profile

Heritage Commerce Corp operates as the bank holding company for Heritage Bank of Commerce that provides various commercial and personal banking services to residents and the business/professional community in California. Its deposit products for business banking and retail markets include interest and non-interest-bearing demand, savings, and money market accounts, as well as certificates of deposit and time deposits.