Security National Bank purchased a new stake in shares of Heritage Commerce Corp (NASDAQ:HTBK) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 12,500 shares of the financial services provider’s stock, valued at approximately $145,000.
A number of other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Heritage Commerce by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 2,985,424 shares of the financial services provider’s stock valued at $33,227,000 after buying an additional 47,322 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in Heritage Commerce by 2.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,053,596 shares of the financial services provider’s stock valued at $22,857,000 after buying an additional 56,558 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Heritage Commerce by 8.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,040,826 shares of the financial services provider’s stock valued at $22,715,000 after buying an additional 167,523 shares during the last quarter. State Street Corp boosted its position in Heritage Commerce by 11.5% in the 2nd quarter. State Street Corp now owns 2,001,073 shares of the financial services provider’s stock valued at $22,272,000 after buying an additional 205,733 shares during the last quarter. Finally, FJ Capital Management LLC boosted its position in Heritage Commerce by 92.4% in the 2nd quarter. FJ Capital Management LLC now owns 1,337,000 shares of the financial services provider’s stock valued at $14,877,000 after buying an additional 642,200 shares during the last quarter. 70.89% of the stock is owned by hedge funds and other institutional investors.
In other Heritage Commerce news, Director Jason Philip Dinapoli purchased 5,000 shares of the stock in a transaction on Thursday, November 11th. The shares were purchased at an average price of $12.14 per share, with a total value of $60,700.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Stephen G. Heitel sold 27,350 shares of the business’s stock in a transaction that occurred on Monday, November 8th. The stock was sold at an average price of $12.15, for a total value of $332,302.50. The disclosure for this sale can be found here. Insiders own 4.43% of the company’s stock.
Shares of NASDAQ:HTBK traded down $0.01 during midday trading on Thursday, hitting $11.79. The company had a trading volume of 113,272 shares, compared to its average volume of 243,288. Heritage Commerce Corp has a 12 month low of $8.40 and a 12 month high of $12.65. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.07. The stock has a market cap of $710.58 million, a price-to-earnings ratio of 15.51 and a beta of 1.18. The firm has a fifty day simple moving average of $11.77 and a 200 day simple moving average of $11.51.
Heritage Commerce (NASDAQ:HTBK) last posted its quarterly earnings results on Thursday, October 28th. The financial services provider reported $0.23 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.02. The business had revenue of $40.59 million for the quarter, compared to analyst estimates of $39.58 million. Heritage Commerce had a return on equity of 7.81% and a net margin of 28.64%. Equities analysts forecast that Heritage Commerce Corp will post 0.79 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 23rd. Shareholders of record on Tuesday, November 9th were issued a dividend of $0.13 per share. The ex-dividend date was Monday, November 8th. This represents a $0.52 annualized dividend and a yield of 4.41%. Heritage Commerce’s dividend payout ratio is presently 68.42%.
About Heritage Commerce
Heritage Commerce Corp. is a holding company, which engages in the provision of banking. It operates through the following Banking and Factoring segments. The Banking segment includes holding company’s results of operations. The Factoring segment focuses on factoring originated by bay view funding. The company was founded in 1997 and is headquartered in San Jose, CA.
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