Intech Investment Management LLC Buys 20,068 Shares of Heritage Commerce Corp (NASDAQ:HTBK)

Intech Investment Management LLC increased its position in shares of Heritage Commerce Corp (NASDAQ:HTBK) by 170.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 31,859 shares of the financial services provider’s stock after acquiring an additional 20,068 shares during the quarter. Intech Investment Management LLC’s holdings in Heritage Commerce were worth $299,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. US Bancorp DE boosted its position in shares of Heritage Commerce by 64.8% during the fourth quarter. US Bancorp DE now owns 3,473 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 1,365 shares in the last quarter. FMR LLC raised its stake in Heritage Commerce by 103.7% during the 3rd quarter. FMR LLC now owns 7,832 shares of the financial services provider’s stock worth $77,000 after buying an additional 3,987 shares during the period. Y Intercept Hong Kong Ltd bought a new position in Heritage Commerce during the fourth quarter worth about $99,000. Point72 Asset Management L.P. acquired a new position in Heritage Commerce in the third quarter valued at about $107,000. Finally, Verition Fund Management LLC bought a new stake in shares of Heritage Commerce in the third quarter worth about $133,000. Institutional investors and hedge funds own 75.55% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on HTBK shares. Stephens upgraded Heritage Commerce from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 3rd. Keefe, Bruyette & Woods cut their price target on shares of Heritage Commerce from $12.50 to $11.50 and set an “outperform” rating on the stock in a research note on Friday, January 24th. Finally, StockNews.com raised shares of Heritage Commerce from a “sell” rating to a “hold” rating in a research report on Wednesday, December 4th.

Heritage Commerce Stock Down 1.0 %

NASDAQ:HTBK opened at $9.62 on Wednesday. The stock has a 50-day simple moving average of $9.94 and a 200 day simple moving average of $9.94. Heritage Commerce Corp has a 52-week low of $7.66 and a 52-week high of $11.27. The company has a market cap of $591.08 million, a PE ratio of 14.58 and a beta of 0.92. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.73 and a current ratio of 0.73.

Heritage Commerce (NASDAQ:HTBK) last issued its quarterly earnings results on Thursday, January 23rd. The financial services provider reported $0.17 earnings per share for the quarter, hitting the consensus estimate of $0.17. Heritage Commerce had a net margin of 16.12% and a return on equity of 5.96%. On average, sell-side analysts expect that Heritage Commerce Corp will post 0.8 EPS for the current fiscal year.

Heritage Commerce Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, February 6th were paid a $0.13 dividend. The ex-dividend date was Thursday, February 6th. This represents a $0.52 annualized dividend and a yield of 5.41%. Heritage Commerce’s payout ratio is currently 78.79%.

Insiders Place Their Bets

In other Heritage Commerce news, CEO Robertson Clay Jones, Jr. sold 5,145 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $9.73, for a total transaction of $50,060.85. Following the transaction, the chief executive officer now owns 254,227 shares of the company’s stock, valued at $2,473,628.71. The trade was a 1.98 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jack W. Conner sold 4,000 shares of the firm’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $10.52, for a total transaction of $42,080.00. Following the completion of the transaction, the director now directly owns 108,512 shares of the company’s stock, valued at $1,141,546.24. This represents a 3.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 10,747 shares of company stock valued at $107,728 in the last three months. 3.99% of the stock is currently owned by corporate insiders.

About Heritage Commerce

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.