Lindbrook Capital LLC Increases Stock Holdings in Heritage Commerce Corp (NASDAQ:HTBK)

Lindbrook Capital LLC lifted its holdings in shares of Heritage Commerce Corp (NASDAQ:HTBK) by 47.7% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,780 shares of the financial services provider’s stock after purchasing an additional 1,543 shares during the quarter. Lindbrook Capital LLC’s holdings in Heritage Commerce were worth $47,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in HTBK. Diversified Trust Co raised its position in Heritage Commerce by 54.7% in the 4th quarter. Diversified Trust Co now owns 17,267 shares of the financial services provider’s stock valued at $171,000 after purchasing an additional 6,103 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Heritage Commerce by 94.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,381 shares of the financial services provider’s stock worth $182,000 after purchasing an additional 8,905 shares during the last quarter. Watershed Asset Management L.L.C. acquired a new position in shares of Heritage Commerce during the third quarter worth about $248,000. Guardian Investment Management purchased a new position in shares of Heritage Commerce during the 4th quarter worth approximately $292,000. Finally, SG Americas Securities LLC lifted its holdings in Heritage Commerce by 107.6% in the third quarter. SG Americas Securities LLC now owns 32,558 shares of the financial services provider’s stock valued at $276,000 after acquiring an additional 16,878 shares during the period. Hedge funds and other institutional investors own 75.55% of the company’s stock.

Heritage Commerce Trading Down 2.2 %

NASDAQ HTBK opened at $8.18 on Friday. The company’s fifty day simple moving average is $8.26 and its 200-day simple moving average is $8.71. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.06. The stock has a market cap of $501.03 million, a P/E ratio of 7.72 and a beta of 0.90. Heritage Commerce Corp has a 52 week low of $6.69 and a 52 week high of $10.22.

Heritage Commerce (NASDAQ:HTBK) last released its quarterly earnings results on Thursday, January 25th. The financial services provider reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.02). The company had revenue of $44.24 million for the quarter, compared to analyst estimates of $46.38 million. Heritage Commerce had a return on equity of 9.78% and a net margin of 26.49%. Equities research analysts predict that Heritage Commerce Corp will post 0.81 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on HTBK. Keefe, Bruyette & Woods lowered their target price on Heritage Commerce from $12.00 to $11.00 and set an “outperform” rating on the stock in a report on Friday, January 26th. Raymond James raised their price objective on Heritage Commerce from $9.50 to $11.00 and gave the stock an “outperform” rating in a report on Friday, January 5th. StockNews.com downgraded shares of Heritage Commerce from a “hold” rating to a “sell” rating in a report on Friday, April 19th. Finally, Piper Sandler upped their price target on Heritage Commerce from $10.00 to $11.00 and gave the stock an “overweight” rating in a research note on Friday, January 26th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $10.75.

Insider Activity

In other news, Director Jack W. Conner sold 6,944 shares of the business’s stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $8.92, for a total value of $61,940.48. Following the completion of the sale, the director now directly owns 102,501 shares in the company, valued at approximately $914,308.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 3.99% of the company’s stock.

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.