Heritage Commerce Corp (NASDAQ:HTBK) Shares Purchased by Cwm LLC

Cwm LLC increased its holdings in Heritage Commerce Corp (NASDAQ:HTBK) by 46.3% in the third quarter, HoldingsChannel.com reports. The firm owned 14,536 shares of the financial services provider’s stock after buying an additional 4,600 shares during the quarter. Cwm LLC’s holdings in Heritage Commerce were worth $144,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Wellington Management Group LLP raised its stake in shares of Heritage Commerce by 6.1% during the 4th quarter. Wellington Management Group LLP now owns 508,796 shares of the financial services provider’s stock worth $5,047,000 after buying an additional 29,291 shares during the period. Hennion & Walsh Asset Management Inc. purchased a new stake in Heritage Commerce in the 1st quarter worth $122,000. Allspring Global Investments Holdings LLC raised its position 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 acquiring an additional 3,155 shares during the period. Norden Group LLC acquired a new stake in shares of Heritage Commerce in the first quarter valued at about $111,000. Finally, BNP Paribas Financial Markets grew its position in shares of Heritage Commerce by 10.7% in the first quarter. BNP Paribas Financial Markets now owns 71,033 shares of the financial services provider’s stock valued at $609,000 after purchasing an additional 6,866 shares during the period. Hedge funds and other institutional investors own 75.55% of the company’s stock.

Heritage Commerce Stock Performance

NASDAQ:HTBK opened at $9.69 on Friday. The company has a market cap of $593.57 million, a P/E ratio of 10.53 and a beta of 0.93. Heritage Commerce Corp has a twelve month low of $7.66 and a twelve month high of $10.99. The company’s 50-day moving average price is $9.84 and its 200-day moving average price is $9.06. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.06.

Heritage Commerce (NASDAQ:HTBK) last released its quarterly earnings data on Friday, July 26th. The financial services provider reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.04). The business had revenue of $61.35 million during the quarter, compared to analyst estimates of $43.35 million. Heritage Commerce had a net margin of 19.82% and a return on equity of 7.21%. On average, sell-side analysts forecast that Heritage Commerce Corp will post 0.65 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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