EJF Capital LLC Sells 59,730 Shares of Heritage Commerce Corp $HTBK

EJF Capital LLC decreased its stake in Heritage Commerce Corp (NASDAQ:HTBK) by 23.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 196,786 shares of the financial services provider’s stock after selling 59,730 shares during the period. EJF Capital LLC’s holdings in Heritage Commerce were worth $1,954,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in HTBK. Wellington Management Group LLP boosted its holdings in Heritage Commerce by 64.9% in the first quarter. Wellington Management Group LLP now owns 3,796,472 shares of the financial services provider’s stock valued at $36,142,000 after acquiring an additional 1,493,857 shares during the last quarter. Rhino Investment Partners Inc acquired a new stake in Heritage Commerce during the 1st quarter worth about $5,222,000. Hotchkis & Wiley Capital Management LLC raised its position in shares of Heritage Commerce by 69.8% in the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 1,277,630 shares of the financial services provider’s stock worth $12,163,000 after acquiring an additional 525,060 shares in the last quarter. Nuveen LLC bought a new position in shares of Heritage Commerce in the 1st quarter worth about $4,861,000. Finally, Cubist Systematic Strategies LLC lifted its stake in shares of Heritage Commerce by 217.4% in the 1st quarter. Cubist Systematic Strategies LLC now owns 200,428 shares of the financial services provider’s stock valued at $1,908,000 after purchasing an additional 137,274 shares during the period. 75.55% of the stock is currently owned by institutional investors.

Heritage Commerce Price Performance

Shares of NASDAQ HTBK opened at $12.04 on Friday. The stock has a market cap of $737.81 million, a price-to-earnings ratio of 17.20 and a beta of 0.81. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.75 and a current ratio of 0.75. Heritage Commerce Corp has a fifty-two week low of $8.09 and a fifty-two week high of $12.09. The firm’s 50-day simple moving average is $10.56 and its 200 day simple moving average is $10.12.

Heritage Commerce (NASDAQ:HTBK) last issued its quarterly earnings data on Wednesday, November 5th. The financial services provider reported $0.24 EPS for the quarter. Heritage Commerce had a return on equity of 7.18% and a net margin of 16.31%.The firm had revenue of $50.01 million during the quarter. As a group, research analysts anticipate that Heritage Commerce Corp will post 0.8 earnings per share for the current fiscal year.

Heritage Commerce Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 20th. Investors of record on Thursday, November 6th were given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date of this dividend was Thursday, November 6th. Heritage Commerce’s dividend payout ratio is presently 74.29%.

Analyst Ratings Changes

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