Heritage Commerce Corp (NASDAQ:HTBK) Stock Holdings Boosted by AlphaQuest LLC

AlphaQuest LLC raised its position in shares of Heritage Commerce Corp (NASDAQ:HTBK - Free Report) by 124.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 62,426 shares of the financial services provider's stock after purchasing an additional 34,624 shares during the quarter. AlphaQuest LLC owned about 0.10% of Heritage Commerce worth $586,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in HTBK. Wealth Enhancement Advisory Services LLC boosted its stake in Heritage Commerce by 27.7% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 16,262 shares of the financial services provider's stock valued at $161,000 after purchasing an additional 3,529 shares in the last quarter. GSA Capital Partners LLP boosted its stake in Heritage Commerce by 49.4% during the 3rd quarter. GSA Capital Partners LLP now owns 127,528 shares of the financial services provider's stock valued at $1,260,000 after purchasing an additional 42,167 shares in the last quarter. Empowered Funds LLC boosted its stake in Heritage Commerce by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 150,733 shares of the financial services provider's stock valued at $1,489,000 after purchasing an additional 7,638 shares in the last quarter. Intech Investment Management LLC bought a new stake in shares of Heritage Commerce during the 3rd quarter worth $116,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Heritage Commerce by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 496,190 shares of the financial services provider's stock worth $4,902,000 after acquiring an additional 6,884 shares in the last quarter. 75.55% of the stock is owned by institutional investors.

Heritage Commerce Price Performance

HTBK opened at $9.45 on Wednesday. The stock has a fifty day moving average of $9.83 and a 200-day moving average of $9.97. The firm has a market capitalization of $579.31 million, a P/E ratio of 14.32 and a beta of 0.92. Heritage Commerce Corp has a 12-month low of $7.66 and a 12-month 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.

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

Heritage Commerce Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 6th were issued a $0.13 dividend. The ex-dividend date of this dividend was Thursday, February 6th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 5.50%. Heritage Commerce's payout ratio is currently 78.79%.

Insider Activity

In related news, CEO Robertson Clay Jones, Jr. sold 5,145 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $9.73, for a total transaction of $50,060.85. Following the completion of the sale, the chief executive officer now directly owns 254,227 shares in the company, valued at approximately $2,473,628.71. This trade represents a 1.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jack W. Conner sold 4,000 shares of the stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $10.52, for a total value of $42,080.00. Following the sale, the director now owns 108,512 shares of the company's stock, valued at approximately $1,141,546.24. This represents a 3.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 10,747 shares of company stock worth $107,728 over the last quarter. Corporate insiders own 3.99% of the company's stock.

Wall Street Analysts Forecast Growth

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

Heritage Commerce Company 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.

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