Boston Partners Purchases 26,442 Shares of Heritage Commerce Corp (NASDAQ:HTBK)

Boston Partners lifted its stake in Heritage Commerce Corp (NASDAQ:HTBK - Free Report) by 1.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,564,741 shares of the financial services provider's stock after acquiring an additional 26,442 shares during the period. Boston Partners owned 2.55% of Heritage Commerce worth $14,620,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wellington Management Group LLP bought a new stake in Heritage Commerce during the third quarter valued at about $20,093,000. State Street Corp lifted its position in shares of Heritage Commerce by 3.2% during 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 last quarter. Charles Schwab Investment Management Inc. boosted its stake in Heritage Commerce by 0.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 500,637 shares of the financial services provider's stock valued at $4,696,000 after purchasing an additional 4,447 shares during the period. Assenagon Asset Management S.A. grew its holdings in Heritage Commerce by 58.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 463,774 shares of the financial services provider's stock valued at $4,350,000 after buying an additional 170,989 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D increased its position in Heritage Commerce by 16.9% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 310,915 shares of the financial services provider's stock worth $2,916,000 after buying an additional 45,010 shares during the period. 75.55% of the stock is currently owned by institutional investors and hedge funds.

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Insider Transactions at Heritage Commerce

In related news, Director Jack W. Conner sold 4,000 shares of Heritage Commerce stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $10.52, for a total value 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. The trade was a 3.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Robertson Clay Jones, Jr. sold 5,145 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $9.73, for a total transaction of $50,060.85. Following the sale, the chief executive officer now directly owns 254,227 shares in the company, valued at approximately $2,473,628.71. This represents a 1.98 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,747 shares of company stock valued at $107,728. Corporate insiders own 3.99% of the company's stock.

Analysts Set New Price Targets

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

Heritage Commerce Price Performance

HTBK stock traded down $0.10 during trading on Tuesday, hitting $9.62. The company had a trading volume of 219,619 shares, compared to its average volume of 357,746. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.06. The company has a fifty day moving average price of $9.92 and a two-hundred day moving average price of $9.94. Heritage Commerce Corp has a fifty-two week low of $7.66 and a fifty-two week high of $11.27. The company has a market cap of $591.08 million, a P/E ratio of 14.58 and a beta of 0.92.

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

Heritage Commerce Dividend Announcement

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

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.