Heritage Commerce Corp (NASDAQ:HTBK) Shares Purchased by AQR Capital Management LLC

AQR Capital Management LLC grew its stake in shares of Heritage Commerce Corp (NASDAQ:HTBK - Free Report) by 32.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 544,471 shares of the financial services provider's stock after acquiring an additional 133,514 shares during the quarter. AQR Capital Management LLC owned about 0.89% of Heritage Commerce worth $4,737,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC lifted its stake in shares of Heritage Commerce by 185.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 4,856 shares of the financial services provider's stock worth $42,000 after buying an additional 3,155 shares during the period. CWM LLC grew its stake in Heritage Commerce by 148.0% during the 2nd quarter. CWM LLC now owns 9,936 shares of the financial services provider's stock valued at $86,000 after purchasing an additional 5,929 shares during the last quarter. ProShare Advisors LLC purchased a new stake in Heritage Commerce during the 1st quarter valued at about $91,000. Norden Group LLC purchased a new position in shares of Heritage Commerce in the first quarter worth about $111,000. Finally, Hennion & Walsh Asset Management Inc. acquired a new stake in shares of Heritage Commerce during the first quarter worth about $122,000. 75.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

HTBK has been the subject of several research reports. Piper Sandler lifted their price objective on shares of Heritage Commerce from $10.00 to $12.00 and gave the company an "overweight" rating in a research note on Friday, July 26th. Keefe, Bruyette & Woods upped their price target on shares of Heritage Commerce from $10.50 to $11.50 and gave the company an "outperform" rating in a report on Friday, July 26th. Finally, StockNews.com lowered Heritage Commerce from a "hold" rating to a "sell" rating in a research note on Wednesday, July 10th.

Heritage Commerce Stock Performance

Shares of HTBK traded up $0.12 during trading hours on Friday, hitting $9.54. The stock had a trading volume of 246,829 shares, compared to its average volume of 398,344. The firm has a 50-day moving average price of $9.87 and a 200 day moving average price of $8.93. Heritage Commerce Corp has a fifty-two week low of $7.66 and a fifty-two week high of $10.99. The firm has a market capitalization of $584.38 million, a price-to-earnings ratio of 10.37 and a beta of 0.93. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.76 and a current ratio of 0.76.

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

Heritage Commerce Announces Dividend

The business also recently announced 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 was Thursday, August 8th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 5.45%. Heritage Commerce's dividend payout ratio is currently 56.52%.

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.