Los Angeles Capital Management LLC Raises Stock Position in Heritage Commerce Corp (NASDAQ:HTBK)

Los Angeles Capital Management LLC boosted its position in Heritage Commerce Corp (NASDAQ:HTBK) by 150.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 212,680 shares of the financial services provider’s stock after purchasing an additional 127,730 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Heritage Commerce were worth $2,110,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Heritage Commerce by 1.2% in the third 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 during the period. Boston Partners increased its stake in Heritage Commerce by 3.7% in the 3rd quarter. Boston Partners now owns 940,475 shares of the financial services provider’s stock worth $7,903,000 after acquiring an additional 33,635 shares during the last quarter. Endeavour Capital Advisors Inc. raised its holdings in shares of Heritage Commerce by 3.0% in the 3rd quarter. Endeavour Capital Advisors Inc. now owns 562,516 shares of the financial services provider’s stock valued at $4,765,000 after acquiring an additional 16,416 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Heritage Commerce by 2.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 463,745 shares of the financial services provider’s stock valued at $3,928,000 after acquiring an additional 12,343 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D grew its holdings in shares of Heritage Commerce by 9.5% during the third quarter. State of New Jersey Common Pension Fund D now owns 291,187 shares of the financial services provider’s stock worth $2,466,000 after purchasing an additional 25,158 shares in the last quarter. 75.55% of the stock is owned by institutional investors.

Heritage Commerce Price Performance

HTBK stock opened at $8.38 on Tuesday. The firm has a market cap of $513.28 million, a P/E ratio of 9.11 and a beta of 0.91. The firm’s fifty day moving average is $8.23 and its 200 day moving average is $8.69. Heritage Commerce Corp has a 52 week low of $6.77 and a 52 week high of $10.22. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.77 and a current ratio of 0.77.

Heritage Commerce (NASDAQ:HTBK) last announced its quarterly earnings data on Friday, April 26th. The financial services provider reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.02). Heritage Commerce had a net margin of 22.84% and a return on equity of 8.40%. The company had revenue of $59.60 million for the quarter, compared to the consensus estimate of $43.83 million. Research analysts predict that Heritage Commerce Corp will post 0.74 earnings per share for the current year.

Heritage Commerce Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Shareholders of record on Thursday, May 9th will be given a $0.13 dividend. The ex-dividend date is Wednesday, May 8th. This represents a $0.52 annualized dividend and a yield of 6.21%. Heritage Commerce’s payout ratio is currently 56.52%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Piper Sandler lowered their target price on shares of Heritage Commerce from $11.00 to $10.00 and set an “overweight” rating on the stock in a research note on Friday, April 26th. Keefe, Bruyette & Woods lowered their price objective on shares of Heritage Commerce from $12.00 to $11.00 and set an “outperform” rating on the stock in a research report on Friday, January 26th. Finally, StockNews.com lowered shares of Heritage Commerce from a “hold” rating to a “sell” rating in a research report on Tuesday, April 30th. One 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 MarketBeat, the company currently has an average rating of “Hold” and an average target price of $10.50.

About Heritage Commerce

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.