Dimensional Fund Advisors LP Sells 102,317 Shares of Heritage Commerce Corp (NASDAQ:HTBK)

Dimensional Fund Advisors LP trimmed its position in Heritage Commerce Corp (NASDAQ:HTBK - Free Report) by 3.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,051,126 shares of the financial services provider's stock after selling 102,317 shares during the quarter. Dimensional Fund Advisors LP owned 4.98% of Heritage Commerce worth $26,544,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of HTBK. Banc Funds Co. LLC grew its position in shares of Heritage Commerce by 8.2% during the fourth quarter. Banc Funds Co. LLC now owns 683,598 shares of the financial services provider's stock valued at $6,781,000 after purchasing an additional 51,515 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Heritage Commerce by 6.1% in the 4th quarter. Wellington Management Group LLP now owns 508,796 shares of the financial services provider's stock valued at $5,047,000 after purchasing an additional 29,291 shares during the last quarter. Hennion & Walsh Asset Management Inc. purchased a new stake in Heritage Commerce in the first quarter valued at approximately $122,000. Allspring Global Investments Holdings LLC increased its holdings in shares of Heritage Commerce by 185.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 4,856 shares of the financial services provider's stock valued at $42,000 after purchasing an additional 3,155 shares in the last quarter. Finally, Norden Group LLC purchased a new stake in shares of Heritage Commerce during the first quarter worth about $111,000. 75.55% of the stock is currently owned by hedge funds and other institutional investors.

Heritage Commerce Trading Down 2.0 %

NASDAQ HTBK traded down $0.19 on Thursday, reaching $9.42. The company had a trading volume of 283,464 shares, compared to its average volume of 399,138. Heritage Commerce Corp has a 52 week low of $7.66 and a 52 week high of $10.99. The stock's 50 day moving average is $9.91 and its 200-day moving average is $8.91. The stock has a market cap of $577.03 million, a price-to-earnings ratio of 10.29 and a beta of 0.93. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.06.

Heritage Commerce (NASDAQ:HTBK - Get Free Report) last released its earnings results on Friday, July 26th. The financial services provider reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.04). Heritage Commerce had a return on equity of 7.21% and a net margin of 19.82%. The business had revenue of $61.35 million for the quarter, compared to the consensus estimate of $43.35 million. Equities analysts predict that Heritage Commerce Corp will post 0.66 earnings per share for the current year.

Heritage Commerce Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th were paid a dividend of $0.13 per share. The ex-dividend date of this dividend was Thursday, August 8th. This represents a $0.52 annualized dividend and a dividend yield of 5.52%. Heritage Commerce's payout ratio is currently 56.52%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on HTBK shares. Keefe, Bruyette & Woods upped their price objective on Heritage Commerce from $10.50 to $11.50 and gave the stock an "outperform" rating in a research report on Friday, July 26th. StockNews.com downgraded shares of Heritage Commerce from a "hold" rating to a "sell" rating in a research report on Wednesday, July 10th. Finally, Piper Sandler upped their price target on Heritage Commerce from $10.00 to $12.00 and gave the company an "overweight" rating in a research report on Friday, July 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.