State of New Jersey Common Pension Fund D Purchases 24,765 Shares of Heritage Commerce Corp $HTBK

State of New Jersey Common Pension Fund D lifted its position in Heritage Commerce Corp (NASDAQ:HTBK) by 12.9% in the second quarter, Holdings Channel.com reports. The institutional investor owned 216,961 shares of the financial services provider’s stock after buying an additional 24,765 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Heritage Commerce were worth $2,154,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Heritage Commerce by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,402 shares of the financial services provider’s stock worth $337,000 after purchasing an additional 1,482 shares in the last quarter. SummerHaven Investment Management LLC increased its holdings in Heritage Commerce by 1.8% during the 2nd quarter. SummerHaven Investment Management LLC now owns 91,792 shares of the financial services provider’s stock worth $911,000 after purchasing an additional 1,590 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in Heritage Commerce by 143.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,851 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 1,680 shares in the last quarter. US Bancorp DE increased its holdings in Heritage Commerce by 66.7% during the 1st quarter. US Bancorp DE now owns 5,789 shares of the financial services provider’s stock worth $55,000 after purchasing an additional 2,316 shares in the last quarter. Finally, AlTi Global Inc. increased its holdings in Heritage Commerce by 0.4% during the 1st quarter. AlTi Global Inc. now owns 656,575 shares of the financial services provider’s stock worth $6,251,000 after purchasing an additional 2,400 shares in the last quarter. Institutional investors own 75.55% of the company’s stock.

Insider Transactions at Heritage Commerce

In other news, COO Thomas A. Sa bought 20,000 shares of the business’s stock in a transaction that occurred on Friday, August 1st. The stock was acquired at an average cost of $9.25 per share, for a total transaction of $185,000.00. Following the purchase, the chief operating officer owned 20,000 shares of the company’s stock, valued at approximately $185,000. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 2.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on HTBK shares. Zacks Research cut Heritage Commerce from a “hold” rating to a “strong sell” rating in a report on Monday, October 13th. Piper Sandler increased their target price on Heritage Commerce from $11.00 to $12.00 and gave the stock an “overweight” rating in a report on Monday. Stephens increased their target price on Heritage Commerce from $11.00 to $12.00 and gave the stock an “overweight” rating in a report on Monday. Wall Street Zen upgraded Heritage Commerce from a “sell” rating to a “hold” rating in a report on Saturday. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Heritage Commerce in a report on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $11.50.

Heritage Commerce Trading Up 0.2%

Heritage Commerce stock opened at $10.64 on Wednesday. The firm has a 50-day moving average of $10.06 and a 200-day moving average of $9.70. Heritage Commerce Corp has a one year low of $8.09 and a one year high of $11.27. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.77 and a quick ratio of 0.77. The company has a market cap of $653.83 million, a price-to-earnings ratio of 15.20 and a beta of 0.85.

Heritage Commerce (NASDAQ:HTBK) last posted its quarterly earnings data on Thursday, October 23rd. The financial services provider reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.03. Heritage Commerce had a net margin of 16.31% and a return on equity of 7.20%. The company had revenue of $50.01 million during the quarter, compared to the consensus estimate of $48.90 million. On average, equities analysts expect that Heritage Commerce Corp will post 0.8 earnings per share for the current fiscal year.

Heritage Commerce Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Thursday, November 6th will be paid a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 4.9%. The ex-dividend date is Thursday, November 6th. Heritage Commerce’s dividend payout ratio (DPR) is 74.29%.

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.