Banc Funds Co. LLC Sells 155,800 Shares of Heritage Commerce Corp (NASDAQ:HTBK)

Banc Funds Co. LLC lowered its position in shares of Heritage Commerce Corp (NASDAQ:HTBK - Free Report) by 36.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 272,839 shares of the financial services provider's stock after selling 155,800 shares during the period. Banc Funds Co. LLC owned approximately 0.45% of Heritage Commerce worth $2,696,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the company. nVerses Capital LLC purchased a new position in shares of Heritage Commerce during the third quarter valued at approximately $73,000. FMR LLC grew its position in Heritage Commerce by 103.7% in the 3rd quarter. FMR LLC now owns 7,832 shares of the financial services provider's stock worth $77,000 after purchasing an additional 3,987 shares during the period. CWM LLC lifted its holdings in shares of Heritage Commerce by 148.0% during the 2nd quarter. CWM LLC now owns 9,936 shares of the financial services provider's stock valued at $86,000 after buying an additional 5,929 shares during the period. One Wealth Advisors LLC purchased a new position in shares of Heritage Commerce in the 3rd quarter worth $99,000. Finally, NorthCrest Asset Manangement LLC bought a new stake in shares of Heritage Commerce in the third quarter worth $100,000. 75.55% of the stock is currently owned by hedge funds and other institutional investors.

Heritage Commerce Stock Performance

HTBK traded up $0.03 during trading on Monday, hitting $10.65. The company's stock had a trading volume of 94,555 shares, compared to its average volume of 387,550. The business's 50 day simple moving average is $10.07 and its 200-day simple moving average is $9.48. The firm has a market cap of $652.85 million, a PE ratio of 14.96 and a beta of 0.93. Heritage Commerce Corp has a one year low of $7.66 and a one year high of $11.27. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.06.

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

Heritage Commerce Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th were given a dividend of $0.13 per share. The ex-dividend date was Thursday, November 7th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 4.88%. Heritage Commerce's payout ratio is 73.24%.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded Heritage Commerce from a "hold" rating to a "sell" rating in a report on Tuesday, November 26th.

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.