State Board of Administration of Florida Retirement System Has $367,000 Stock Holdings in Heritage Commerce Corp (NASDAQ:HTBK)

State Board of Administration of Florida Retirement System raised its holdings in Heritage Commerce Corp (NASDAQ:HTBKGet Rating) by 59.4% in the second quarter, Holdings Channel.com reports. The fund owned 34,306 shares of the financial services provider’s stock after acquiring an additional 12,790 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Heritage Commerce were worth $367,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in HTBK. Great West Life Assurance Co. Can lifted its stake in Heritage Commerce by 35.7% in the first quarter. Great West Life Assurance Co. Can now owns 6,253 shares of the financial services provider’s stock valued at $73,000 after acquiring an additional 1,646 shares during the last quarter. Amalgamated Bank acquired a new stake in Heritage Commerce in the first quarter valued at approximately $79,000. Janney Montgomery Scott LLC acquired a new stake in Heritage Commerce in the second quarter valued at approximately $119,000. Osborne Partners Capital Management LLC acquired a new stake in Heritage Commerce in the first quarter valued at approximately $121,000. Finally, Raymond James & Associates lifted its stake in shares of Heritage Commerce by 10.5% in the first quarter. Raymond James & Associates now owns 11,827 shares of the financial services provider’s stock worth $133,000 after buying an additional 1,121 shares during the last quarter. 73.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on HTBK shares. Raymond James cut shares of Heritage Commerce from a “strong-buy” rating to an “outperform” rating in a research note on Monday, October 31st. StockNews.com started coverage on shares of Heritage Commerce in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. DA Davidson boosted their price objective on shares of Heritage Commerce to $16.50 in a research note on Tuesday, November 1st. Finally, Piper Sandler boosted their price objective on shares of Heritage Commerce to $15.00 in a research note on Tuesday, November 1st.

Heritage Commerce Trading Down 1.0 %

Shares of HTBK stock opened at $14.54 on Monday. Heritage Commerce Corp has a 1 year low of $10.42 and a 1 year high of $14.87. The firm’s fifty day simple moving average is $12.80 and its 200 day simple moving average is $11.82. The firm has a market capitalization of $882.85 million, a P/E ratio of 14.84 and a beta of 1.01. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.06.

Heritage Commerce Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 22nd. Investors of record on Tuesday, November 8th will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 3.58%. The ex-dividend date is Monday, November 7th. Heritage Commerce’s dividend payout ratio (DPR) is currently 53.06%.

Insider Buying and Selling

In related news, CEO Walter Theodore Kaczmarek sold 21,419 shares of the business’s stock in a transaction on Wednesday, August 24th. The shares were sold at an average price of $11.63, for a total transaction of $249,102.97. Following the transaction, the chief executive officer now owns 108,206 shares of the company’s stock, valued at $1,258,435.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Heritage Commerce news, CEO Walter Theodore Kaczmarek sold 21,419 shares of the business’s stock in a transaction on Wednesday, August 24th. The shares were sold at an average price of $11.63, for a total value of $249,102.97. Following the sale, the chief executive officer now owns 108,206 shares of the company’s stock, valued at approximately $1,258,435.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Lawrence D. Mcgovern sold 22,500 shares of the business’s stock in a transaction on Thursday, November 17th. The shares were sold at an average price of $14.59, for a total transaction of $328,275.00. Following the completion of the sale, the chief financial officer now directly owns 97,029 shares in the company, valued at approximately $1,415,653.11. The disclosure for this sale can be found here. 4.05% of the stock is currently owned by insiders.

About Heritage Commerce

(Get Rating)

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.

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Institutional Ownership by Quarter for Heritage Commerce (NASDAQ:HTBK)

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