Thrivent Financial for Lutherans decreased its holdings in Heritage Commerce Corp (NASDAQ:HTBK - Free Report) by 77.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,028 shares of the financial services provider's stock after selling 100,980 shares during the period. Thrivent Financial for Lutherans' holdings in Heritage Commerce were worth $286,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of HTBK. Vanguard Group Inc. raised its stake in Heritage Commerce by 3.9% during the 1st quarter. Vanguard Group Inc. now owns 3,309,141 shares of the financial services provider's stock valued at $28,392,000 after buying an additional 123,973 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in Heritage Commerce by 830.2% in 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 acquiring an additional 914,249 shares during the period. American Century Companies Inc. boosted its position in Heritage Commerce by 21.2% in the second 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 last quarter. AlTi Global Inc. grew its stake in shares of Heritage Commerce by 1.1% during the 2nd quarter. AlTi Global Inc. now owns 648,286 shares of the financial services provider's stock valued at $5,640,000 after purchasing an additional 6,747 shares during the period. Finally, AQR Capital Management LLC increased its position 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. Hedge funds and other institutional investors own 75.55% of the company's stock.
Heritage Commerce Price Performance
NASDAQ:HTBK remained flat at $10.52 during mid-day trading on Friday. The company's stock had a trading volume of 146,913 shares, compared to its average volume of 311,229. The company has a market cap of $644.88 million, a price-to-earnings ratio of 14.82 and a beta of 0.94. The company has a 50 day moving average of $10.14 and a two-hundred day moving average of $9.55. 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 twelve month low of $7.66 and a twelve month high of $11.27.
Heritage Commerce (NASDAQ:HTBK - Get Free Report) last released its earnings results on Thursday, October 24th. The financial services provider reported $0.17 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 business had revenue of $63.68 million during the quarter, compared to analysts' expectations of $43.14 million. Equities analysts predict that Heritage Commerce Corp will post 0.66 EPS for the current year.
Heritage Commerce Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th were given a $0.13 dividend. The ex-dividend date was Thursday, November 7th. This represents a $0.52 annualized dividend and a dividend yield of 4.94%. Heritage Commerce's dividend payout ratio (DPR) is presently 73.24%.
Wall Street Analysts Forecast Growth
Separately, StockNews.com raised shares of Heritage Commerce from a "sell" rating to a "hold" rating in a report on Wednesday.
Read Our Latest Stock Analysis on Heritage Commerce
Heritage Commerce Company Profile
(
Free Report)
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.
See Also
Before you consider Heritage Commerce, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Heritage Commerce wasn't on the list.
While Heritage Commerce currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering when you'll finally be able to invest in SpaceX, StarLink, or The Boring Company? Click the link below to learn when Elon Musk will let these companies finally IPO.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.