Fox Run Management L.L.C. Takes $123,000 Position in Heritage Commerce Corp (NASDAQ:HTBK)

Fox Run Management L.L.C. purchased a new position in Heritage Commerce Corp (NASDAQ:HTBK) during the 4th quarter, Holdings Channel.com reports. The firm purchased 13,148 shares of the financial services provider’s stock, valued at approximately $123,000.

A number of other hedge funds also recently bought and sold shares of HTBK. Wellington Management Group LLP bought a new stake in shares of Heritage Commerce in the 3rd quarter worth about $20,093,000. Raymond James Financial Inc. bought a new stake in Heritage Commerce during the fourth quarter worth approximately $2,181,000. Assenagon Asset Management S.A. raised its position in Heritage Commerce by 58.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 463,774 shares of the financial services provider’s stock valued at $4,350,000 after purchasing an additional 170,989 shares during the period. State Street Corp lifted its stake in shares of Heritage Commerce by 3.2% in the 3rd quarter. State Street Corp now owns 1,965,643 shares of the financial services provider’s stock valued at $19,421,000 after purchasing an additional 61,630 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D boosted its holdings in shares of Heritage Commerce by 16.9% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 310,915 shares of the financial services provider’s stock worth $2,916,000 after purchasing an additional 45,010 shares during the period. Hedge funds and other institutional investors own 75.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Stephens upgraded Heritage Commerce from a “hold” rating to a “strong-buy” rating in a report on Monday, March 3rd. Keefe, Bruyette & Woods lowered their target price on shares of Heritage Commerce from $12.50 to $11.50 and set an “outperform” rating for the company in a report on Friday, January 24th. Finally, StockNews.com upgraded shares of Heritage Commerce from a “sell” rating to a “hold” rating in a report on Wednesday, December 4th.

Insider Transactions at Heritage Commerce

In other Heritage Commerce news, Director Jack W. Conner sold 4,000 shares of the firm’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $10.52, for a total transaction of $42,080.00. Following the transaction, the director now owns 108,512 shares of the company’s stock, valued at approximately $1,141,546.24. This trade represents a 3.56 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Robertson Clay Jones, Jr. sold 5,145 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $9.73, for a total transaction of $50,060.85. Following the completion of the sale, the chief executive officer now directly owns 254,227 shares of the company’s stock, valued at $2,473,628.71. The trade was a 1.98 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,747 shares of company stock valued at $107,728. 3.99% of the stock is currently owned by company insiders.

Heritage Commerce Price Performance

HTBK opened at $9.54 on Friday. The business has a fifty day moving average of $9.96 and a 200 day moving average of $9.93. The stock has a market cap of $586.17 million, a P/E ratio of 14.45 and a beta of 0.92. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.06. Heritage Commerce Corp has a 52-week low of $7.66 and a 52-week high of $11.27.

Heritage Commerce (NASDAQ:HTBK) last issued its earnings results on Thursday, January 23rd. The financial services provider reported $0.17 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.17. Heritage Commerce had a net margin of 16.12% and a return on equity of 5.96%. As a group, sell-side analysts anticipate that Heritage Commerce Corp will post 0.8 EPS for the current year.

Heritage Commerce Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, February 6th were paid a $0.13 dividend. The ex-dividend date was Thursday, February 6th. This represents a $0.52 dividend on an annualized basis and a yield of 5.45%. Heritage Commerce’s dividend payout ratio is currently 78.79%.

Heritage Commerce Company 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.