Heritage Commerce Corp $HTBK Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC trimmed its holdings in Heritage Commerce Corp (NASDAQ:HTBK) by 37.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,373 shares of the financial services provider’s stock after selling 17,503 shares during the quarter. Intech Investment Management LLC’s holdings in Heritage Commerce were worth $292,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of HTBK. Allianz Asset Management GmbH boosted its stake in shares of Heritage Commerce by 12.3% during the first quarter. Allianz Asset Management GmbH now owns 34,700 shares of the financial services provider’s stock worth $330,000 after buying an additional 3,800 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Heritage Commerce during the 1st quarter valued at approximately $301,000. US Bancorp DE lifted its position 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 acquiring an additional 2,316 shares during the period. PNC Financial Services Group Inc. grew its stake in shares of Heritage Commerce by 143.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,851 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 1,680 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Heritage Commerce by 3.2% in the first quarter. Vanguard Group Inc. now owns 3,495,577 shares of the financial services provider’s stock valued at $33,278,000 after purchasing an additional 108,505 shares during the period. Institutional investors and hedge funds own 75.55% of the company’s stock.

Heritage Commerce Stock Up 2.2%

HTBK stock opened at $11.13 on Tuesday. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.06. The company’s 50-day moving average price is $10.27 and its 200 day moving average price is $9.98. Heritage Commerce Corp has a 52 week low of $8.09 and a 52 week high of $11.17. The company has a market cap of $682.09 million, a P/E ratio of 15.90 and a beta of 0.89.

Heritage Commerce (NASDAQ:HTBK) last issued its earnings results on Wednesday, November 5th. The financial services provider reported $0.24 earnings per share (EPS) for the quarter. The company had revenue of $50.01 million during the quarter. Heritage Commerce had a net margin of 16.31% and a return on equity of 7.20%. On average, research 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 disclosed a quarterly dividend, which was paid on Thursday, November 20th. Investors of record on Thursday, November 6th were issued a dividend of $0.13 per share. The ex-dividend date of this dividend was Thursday, November 6th. This represents a $0.52 annualized dividend and a yield of 4.7%. Heritage Commerce’s payout ratio is currently 74.29%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on HTBK. Zacks Research raised Heritage Commerce from a “strong sell” rating to a “strong-buy” rating in a report on Wednesday, October 29th. DA Davidson lifted their target price on shares of Heritage Commerce from $12.00 to $12.50 and gave the company a “buy” rating in a report on Tuesday, October 28th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Heritage Commerce in a research note on Tuesday, November 25th. Wall Street Zen upgraded shares of Heritage Commerce from a “sell” rating to a “hold” rating in a research report on Saturday, October 25th. Finally, Piper Sandler boosted their target price on Heritage Commerce from $11.00 to $12.00 and gave the stock an “overweight” rating in a research report on Monday, October 27th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $11.50.

Heritage Commerce Company 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.