Two Sigma Advisers LP Sells 11,300 Shares of Heritage Commerce Corp (NASDAQ:HTBK)

Two Sigma Advisers LP cut its position in shares of Heritage Commerce Corp (NASDAQ:HTBK) by 2.4% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 456,502 shares of the financial services provider’s stock after selling 11,300 shares during the period. Two Sigma Advisers LP’s holdings in Heritage Commerce were worth $4,282,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in HTBK. Barclays PLC boosted its stake in Heritage Commerce by 7.2% during the third quarter. Barclays PLC now owns 216,439 shares of the financial services provider’s stock valued at $2,139,000 after buying an additional 14,466 shares during the last quarter. SG Americas Securities LLC boosted its holdings in shares of Heritage Commerce by 5.9% in the 4th quarter. SG Americas Securities LLC now owns 45,763 shares of the financial services provider’s stock worth $429,000 after purchasing an additional 2,558 shares during the period. Empowered Funds LLC increased its position in shares of Heritage Commerce by 5.1% during the 4th quarter. Empowered Funds LLC now owns 158,347 shares of the financial services provider’s stock valued at $1,485,000 after purchasing an additional 7,614 shares during the last quarter. Rhumbline Advisers raised its holdings in Heritage Commerce by 5.2% during the 4th quarter. Rhumbline Advisers now owns 95,591 shares of the financial services provider’s stock valued at $897,000 after buying an additional 4,738 shares during the period. Finally, State of New Jersey Common Pension Fund D boosted its stake in Heritage Commerce by 16.9% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 310,915 shares of the financial services provider’s stock worth $2,916,000 after buying an additional 45,010 shares during the period. 75.55% of the stock is owned by institutional investors.

Insider Buying and Selling at Heritage Commerce

In other Heritage Commerce news, Director Jack W. Conner sold 4,000 shares of Heritage Commerce stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $10.52, for a total transaction of $42,080.00. Following the completion of the sale, the director now directly owns 108,512 shares of the company’s stock, valued at $1,141,546.24. The trade was a 3.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Robertson Clay Jones, Jr. sold 5,145 shares of Heritage Commerce stock in a transaction on Monday, March 10th. The shares were sold at an average price of $9.73, for a total value of $50,060.85. Following the completion of the transaction, the chief executive officer now owns 254,227 shares in the company, valued at $2,473,628.71. This represents a 1.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 10,747 shares of company stock valued at $107,728 in the last ninety days. Corporate insiders own 2.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Keefe, Bruyette & Woods cut their price target on shares of Heritage Commerce from $11.50 to $11.00 and set an “outperform” rating on the stock in a report on Friday, April 25th. Stephens reaffirmed an “overweight” rating and set a $11.00 target price on shares of Heritage Commerce in a research note on Monday, April 28th. Finally, Raymond James set a $10.00 price target on Heritage Commerce in a report on Monday, April 28th.

Heritage Commerce Trading Down 0.7%

NASDAQ HTBK opened at $9.04 on Monday. The company’s 50-day moving average price is $9.09 and its 200-day moving average price is $9.69. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.06. The stock has a market cap of $556.83 million, a PE ratio of 13.70 and a beta of 0.77. Heritage Commerce Corp has a 12 month low of $7.74 and a 12 month high of $11.27.

Heritage Commerce (NASDAQ:HTBK) last issued its earnings results on Thursday, April 24th. The financial services provider reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.01. The business had revenue of $46.06 million during the quarter, compared to analyst estimates of $45.89 million. Heritage Commerce had a return on equity of 5.96% and a net margin of 16.12%. Equities research analysts forecast that Heritage Commerce Corp will post 0.8 earnings per share for the current year.

Heritage Commerce Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Thursday, May 8th were given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 5.75%. The ex-dividend date of this dividend was Thursday, May 8th. Heritage Commerce’s dividend payout ratio (DPR) is presently 76.47%.

Heritage Commerce Profile

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.