Heritage Commerce Corp (NASDAQ:HTBK) Shares Acquired by Quest Partners LLC

Quest Partners LLC increased its position in shares of Heritage Commerce Corp (NASDAQ:HTBK) by 6.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 58,569 shares of the financial services provider’s stock after acquiring an additional 3,795 shares during the period. Quest Partners LLC owned about 0.10% of Heritage Commerce worth $510,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC increased its stake in Heritage Commerce by 185.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 4,856 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 3,155 shares during the period. CWM LLC increased its stake in Heritage Commerce by 148.0% during the 2nd quarter. CWM LLC now owns 9,936 shares of the financial services provider’s stock worth $86,000 after buying an additional 5,929 shares during the period. ProShare Advisors LLC acquired a new stake in Heritage Commerce during the 1st quarter worth approximately $91,000. Norden Group LLC purchased a new position in Heritage Commerce in the 1st quarter valued at approximately $111,000. Finally, Hennion & Walsh Asset Management Inc. acquired a new position in shares of Heritage Commerce in the first quarter worth $122,000. 75.55% of the stock is currently owned by hedge funds and other institutional investors.

Heritage Commerce Price Performance

Heritage Commerce stock opened at $9.66 on Friday. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.06. The company has a fifty day simple moving average of $9.79 and a 200-day simple moving average of $8.75. The stock has a market cap of $591.73 million, a P/E ratio of 10.50 and a beta of 0.93. Heritage Commerce Corp has a 12-month low of $7.66 and a 12-month high of $10.99.

Heritage Commerce (NASDAQ:HTBK) last announced its quarterly earnings results on Friday, July 26th. The financial services provider reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.04). Heritage Commerce had a return on equity of 7.21% and a net margin of 19.82%. The business had revenue of $61.35 million for the quarter, compared to analysts’ expectations of $43.35 million. Equities analysts expect that Heritage Commerce Corp will post 0.66 EPS for the current fiscal year.

Heritage Commerce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 8th were paid a $0.13 dividend. The ex-dividend date was Thursday, August 8th. This represents a $0.52 annualized dividend and a yield of 5.38%. Heritage Commerce’s dividend payout ratio is currently 56.52%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Keefe, Bruyette & Woods lifted their target price on Heritage Commerce from $10.50 to $11.50 and gave the company an “outperform” rating in a report on Friday, July 26th. StockNews.com lowered Heritage Commerce from a “hold” rating to a “sell” rating in a research report on Wednesday, July 10th. Finally, Piper Sandler boosted their price objective on Heritage Commerce from $10.00 to $12.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th.

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.