Versor Investments LP Buys 666,390 Shares of Heritage Commerce Corp $HTBK

Versor Investments LP boosted its stake in Heritage Commerce Corp (NASDAQ:HTBK) by 904.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 740,090 shares of the financial services provider’s stock after purchasing an additional 666,390 shares during the period. Heritage Commerce comprises about 1.4% of Versor Investments LP’s holdings, making the stock its 15th largest holding. Versor Investments LP’s holdings in Heritage Commerce were worth $8,888,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also added to or reduced their stakes in HTBK. ABC Arbitrage SA bought a new position in Heritage Commerce in the 4th quarter valued at approximately $6,975,000. Boston Partners increased its position in Heritage Commerce by 52.1% in the 3rd quarter. Boston Partners now owns 1,676,777 shares of the financial services provider’s stock valued at $16,636,000 after acquiring an additional 574,070 shares during the period. Assenagon Asset Management S.A. acquired a new position in Heritage Commerce in the 4th quarter valued at approximately $5,010,000. Vanguard Group Inc. increased its position in Heritage Commerce by 11.0% in the 3rd quarter. Vanguard Group Inc. now owns 3,946,682 shares of the financial services provider’s stock valued at $39,191,000 after acquiring an additional 390,978 shares during the period. Finally, Jacobs Levy Equity Management Inc. increased its position in Heritage Commerce by 979.3% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 360,543 shares of the financial services provider’s stock valued at $3,580,000 after acquiring an additional 327,138 shares during the period. Institutional investors own 75.55% of the company’s stock.

Heritage Commerce Stock Performance

HTBK opened at $13.45 on Tuesday. Heritage Commerce Corp has a twelve month low of $8.73 and a twelve month high of $13.83. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.06. The company has a fifty day moving average of $12.84 and a 200-day moving average of $12.27. The stock has a market cap of $828.43 million, a PE ratio of 17.24 and a beta of 0.69.

Heritage Commerce Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 8th. Stockholders of record on Wednesday, March 25th were given a dividend of $0.13 per share. The ex-dividend date was Wednesday, March 25th. This represents a $0.52 annualized dividend and a dividend yield of 3.9%. Heritage Commerce’s dividend payout ratio is 66.67%.

Wall Street Analyst Weigh In

HTBK has been the subject of several recent research reports. Zacks Research cut shares of Heritage Commerce from a “strong-buy” rating to a “hold” rating in a research report on Thursday, April 9th. Weiss Ratings upgraded shares of Heritage Commerce from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 9th. Finally, DA Davidson restated a “neutral” rating and issued a $14.50 price target on shares of Heritage Commerce in a research report on Wednesday, February 4th. Two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $13.13.

About Heritage Commerce

Heritage Commerce Corporation, headquartered in Farmington Hills, Michigan, is the bank holding company for Heritage Bank, N.A., a community-oriented financial institution. Traded on NASDAQ under the symbol HTBK, the company focuses on delivering tailored banking services to businesses, professionals and individuals throughout Southeastern Michigan.

Heritage Bank, N.A. offers a comprehensive portfolio of deposit and lending products designed to meet the needs of commercial and consumer clients.