Wellington Management Group LLP Buys New Position in Heritage Commerce Corp (NASDAQ:HTBK)

Wellington Management Group LLP bought a new position in shares of Heritage Commerce Corp (NASDAQ:HTBK - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,033,715 shares of the financial services provider's stock, valued at approximately $20,093,000. Wellington Management Group LLP owned about 3.32% of Heritage Commerce as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of HTBK. State Street Corp boosted its holdings in shares of Heritage Commerce by 3.2% in the 3rd quarter. State Street Corp now owns 1,965,643 shares of the financial services provider's stock worth $19,421,000 after purchasing an additional 61,630 shares during the period. Assenagon Asset Management S.A. boosted its stake in shares of Heritage Commerce by 830.2% during the second quarter. Assenagon Asset Management S.A. now owns 1,024,377 shares of the financial services provider's stock valued at $8,912,000 after purchasing an additional 914,249 shares during the period. American Century Companies Inc. increased its holdings in Heritage Commerce by 21.2% during the 2nd quarter. American Century Companies Inc. now owns 921,389 shares of the financial services provider's stock worth $8,016,000 after purchasing an additional 160,977 shares during the period. AlTi Global Inc. lifted its holdings in Heritage Commerce by 1.1% during the second quarter. AlTi Global Inc. now owns 648,286 shares of the financial services provider's stock worth $5,640,000 after buying an additional 6,747 shares during the period. Finally, AQR Capital Management LLC lifted its holdings in shares of Heritage Commerce by 32.5% during the 2nd quarter. AQR Capital Management LLC now owns 544,471 shares of the financial services provider's stock valued at $4,737,000 after purchasing an additional 133,514 shares during the last quarter. 75.55% of the stock is owned by hedge funds and other institutional investors.

Heritage Commerce Price Performance

Shares of Heritage Commerce stock traded up $0.07 on Friday, hitting $10.43. The company's stock had a trading volume of 221,515 shares, compared to its average volume of 383,308. The company has a market capitalization of $639.36 million, a price-to-earnings ratio of 14.69 and a beta of 0.94. The firm has a fifty day moving average price of $10.22 and a 200-day moving average price of $9.62. 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 Corp has a 1 year low of $7.66 and a 1 year high of $11.27.

Heritage Commerce (NASDAQ:HTBK - Get Free Report) last issued its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.17 earnings per share for the quarter, meeting analysts' consensus estimates of $0.17. The firm had revenue of $63.68 million for the quarter, compared to analyst estimates of $43.14 million. Heritage Commerce had a net margin of 17.61% and a return on equity of 6.37%. As a group, sell-side analysts anticipate that Heritage Commerce Corp will post 0.66 earnings per share for the current fiscal year.

Heritage Commerce Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th were issued a $0.13 dividend. The ex-dividend date was Thursday, November 7th. This represents a $0.52 dividend on an annualized basis and a yield of 4.99%. Heritage Commerce's payout ratio is 73.24%.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of Heritage Commerce from a "sell" rating to a "hold" rating in a research note on Wednesday, December 4th.

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.