Heritage Commerce Corp $HTBK Shares Acquired by Boston Partners

Boston Partners increased its position in shares of Heritage Commerce Corp (NASDAQ:HTBK) by 2.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,102,707 shares of the financial services provider’s stock after acquiring an additional 22,264 shares during the period. Boston Partners owned approximately 1.79% of Heritage Commerce worth $10,818,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Cerity Partners LLC grew its stake in shares of Heritage Commerce by 1.9% in the 1st quarter. Cerity Partners LLC now owns 148,300 shares of the financial services provider’s stock worth $1,412,000 after purchasing an additional 2,726 shares during the last quarter. Allianz Asset Management GmbH boosted its holdings in Heritage Commerce by 12.3% during the first quarter. Allianz Asset Management GmbH now owns 34,700 shares of the financial services provider’s stock worth $330,000 after buying an additional 3,800 shares in the last quarter. Y Intercept Hong Kong Ltd boosted its holdings in Heritage Commerce by 266.6% during the first quarter. Y Intercept Hong Kong Ltd now owns 38,598 shares of the financial services provider’s stock worth $367,000 after buying an additional 28,069 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Heritage Commerce in the first quarter worth approximately $301,000. Finally, Princeton Capital Management LLC increased its holdings in shares of Heritage Commerce by 17.6% in the first quarter. Princeton Capital Management LLC now owns 20,041 shares of the financial services provider’s stock valued at $191,000 after buying an additional 3,000 shares in the last quarter. 75.55% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

HTBK has been the subject of several research reports. Wall Street Zen raised Heritage Commerce from a “sell” rating to a “hold” rating in a research note on Saturday, October 25th. Piper Sandler increased their price target on Heritage Commerce from $11.00 to $12.00 and gave the company an “overweight” rating in a research report on Monday, October 27th. Weiss Ratings restated a “hold (c)” rating on shares of Heritage Commerce in a report on Wednesday, October 8th. Stephens upped their price objective on shares of Heritage Commerce from $11.00 to $12.00 and gave the company an “overweight” rating in a research note on Monday, October 27th. Finally, Zacks Research upgraded shares of Heritage Commerce from a “strong sell” rating to a “strong-buy” rating in a report on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $11.50.

Heritage Commerce Stock Down 1.4%

Heritage Commerce stock opened at $10.56 on Friday. Heritage Commerce Corp has a twelve month low of $8.09 and a twelve month high of $11.27. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.77 and a current ratio of 0.77. The firm has a market cap of $647.16 million, a PE ratio of 15.09 and a beta of 0.89. The firm’s 50 day moving average price is $10.16 and its two-hundred day moving average price is $9.85.

Heritage Commerce (NASDAQ:HTBK) last posted its quarterly earnings results on Wednesday, November 5th. The financial services provider reported $0.24 EPS for the quarter. Heritage Commerce had a net margin of 16.31% and a return on equity of 7.20%. The business had revenue of $50.01 million for the quarter. On average, research analysts predict that Heritage Commerce Corp will post 0.8 EPS for the current fiscal year.

Heritage Commerce Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Thursday, November 6th will be paid a $0.13 dividend. The ex-dividend date of this dividend is Thursday, November 6th. This represents a $0.52 annualized dividend and a dividend yield of 4.9%. Heritage Commerce’s payout ratio is presently 74.29%.

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.