Atom Investors LP Sells 127,675 Shares of Heritage Commerce Corp (NASDAQ:HTBK)

Atom Investors LP lowered its stake in shares of Heritage Commerce Corp (NASDAQ:HTBK - Free Report) by 44.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 159,535 shares of the financial services provider's stock after selling 127,675 shares during the quarter. Atom Investors LP owned about 0.26% of Heritage Commerce worth $1,576,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. nVerses Capital LLC purchased a new stake in Heritage Commerce in the third quarter worth about $73,000. FMR LLC increased its position in Heritage Commerce by 103.7% during the 3rd quarter. FMR LLC now owns 7,832 shares of the financial services provider's stock valued at $77,000 after buying an additional 3,987 shares in the last quarter. CWM LLC raised its stake in Heritage Commerce by 148.0% during the second 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 last quarter. One Wealth Advisors LLC bought a new stake in Heritage Commerce in the third quarter worth $99,000. Finally, NorthCrest Asset Manangement LLC bought a new position in shares of Heritage Commerce during the third quarter valued at $100,000. 75.55% of the stock is currently owned by hedge funds and other institutional investors.

Heritage Commerce Stock Performance

Shares of HTBK stock traded down $0.07 during trading hours on Tuesday, reaching $10.52. The company had a trading volume of 54,010 shares, compared to its average volume of 386,797. The firm has a market cap of $644.88 million, a PE ratio of 14.92 and a beta of 0.94. Heritage Commerce Corp has a one year low of $7.66 and a one year high of $11.27. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.73 and a current ratio of 0.73. The business has a fifty day moving average price of $10.08 and a 200-day moving average price of $9.50.

Heritage Commerce (NASDAQ:HTBK - Get Free Report) last posted 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 company had revenue of $63.68 million for the quarter, compared to the consensus estimate of $43.14 million. Sell-side analysts predict that Heritage Commerce Corp will post 0.66 earnings per share for the current fiscal year.

Heritage Commerce Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th were given a $0.13 dividend. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 4.94%. Heritage Commerce's payout ratio is currently 73.24%.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of Heritage Commerce from a "hold" rating to a "sell" rating in a research note on Tuesday, November 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.