Diversified Trust Co Has $171,000 Position in Heritage Commerce Corp (NASDAQ:HTBK)

Diversified Trust Co increased its stake in shares of Heritage Commerce Corp (NASDAQ:HTBKFree Report) by 54.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,267 shares of the financial services provider’s stock after purchasing an additional 6,103 shares during the quarter. Diversified Trust Co’s holdings in Heritage Commerce were worth $171,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Heritage Commerce by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 3,118,504 shares of the financial services provider’s stock worth $26,414,000 after purchasing an additional 36,615 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Heritage Commerce by 42.3% in the third quarter. American Century Companies Inc. now owns 339,674 shares of the financial services provider’s stock valued at $2,877,000 after buying an additional 100,927 shares during the period. Deutsche Bank AG raised its holdings in Heritage Commerce by 23.6% in the 3rd quarter. Deutsche Bank AG now owns 27,555 shares of the financial services provider’s stock valued at $233,000 after buying an additional 5,268 shares during the last quarter. Graham Capital Management L.P. boosted its position in Heritage Commerce by 5.8% during the 3rd quarter. Graham Capital Management L.P. now owns 21,468 shares of the financial services provider’s stock worth $182,000 after buying an additional 1,172 shares during the period. Finally, Creative Planning grew its holdings in Heritage Commerce by 93.0% during the 3rd quarter. Creative Planning now owns 31,990 shares of the financial services provider’s stock worth $271,000 after acquiring an additional 15,412 shares during the last quarter. Institutional investors own 72.80% of the company’s stock.

Insider Buying and Selling at Heritage Commerce

In related news, Director Jack W. Conner sold 6,944 shares of Heritage Commerce stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $8.92, for a total value of $61,940.48. Following the sale, the director now owns 102,501 shares of the company’s stock, valued at approximately $914,308.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 4.15% of the company’s stock.

Heritage Commerce Stock Down 1.8 %

HTBK opened at $8.28 on Friday. Heritage Commerce Corp has a fifty-two week low of $6.69 and a fifty-two week high of $10.22. The firm has a market capitalization of $506.49 million, a P/E ratio of 7.81 and a beta of 0.89. The company’s 50-day moving average is $8.59 and its 200 day moving average is $8.76. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.77 and a quick ratio of 0.77.

Heritage Commerce (NASDAQ:HTBKGet Free Report) last posted its earnings results on Thursday, January 25th. The financial services provider reported $0.22 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.02). Heritage Commerce had a return on equity of 9.78% and a net margin of 26.49%. The firm had revenue of $44.24 million for the quarter, compared to the consensus estimate of $46.38 million. Research analysts expect that Heritage Commerce Corp will post 0.81 earnings per share for the current fiscal year.

Heritage Commerce Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 22nd. Investors of record on Thursday, February 8th were issued a dividend of $0.13 per share. The ex-dividend date was Wednesday, February 7th. This represents a $0.52 dividend on an annualized basis and a yield of 6.28%. Heritage Commerce’s dividend payout ratio (DPR) is currently 49.06%.

Analyst Ratings Changes

A number of equities analysts have recently commented on HTBK shares. Raymond James lifted their price target on shares of Heritage Commerce from $9.50 to $11.00 and gave the stock an “outperform” rating in a report on Friday, January 5th. StockNews.com upgraded Heritage Commerce from a “sell” rating to a “hold” rating in a report on Sunday. Keefe, Bruyette & Woods dropped their price objective on shares of Heritage Commerce from $12.00 to $11.00 and set an “outperform” rating on the stock in a report on Friday, January 26th. Finally, Piper Sandler lifted their price target on shares of Heritage Commerce from $10.00 to $11.00 and gave the company an “overweight” rating in a research report on Friday, January 26th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Heritage Commerce has an average rating of “Moderate Buy” and a consensus target price of $10.75.

Get Our Latest Analysis on HTBK

About Heritage Commerce

(Free Report)

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.

Further Reading

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

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