State of New Jersey Common Pension Fund D Raises Stock Position in Heritage Commerce Corp (NASDAQ:HTBK)

State of New Jersey Common Pension Fund D increased its holdings in shares of Heritage Commerce Corp (NASDAQ:HTBK - Free Report) by 16.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 310,915 shares of the financial services provider's stock after purchasing an additional 45,010 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.51% of Heritage Commerce worth $2,916,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Wellington Management Group LLP acquired a new stake in shares of Heritage Commerce during the 3rd quarter worth approximately $20,093,000. Assenagon Asset Management S.A. grew its holdings in Heritage Commerce by 58.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 463,774 shares of the financial services provider's stock valued at $4,350,000 after purchasing an additional 170,989 shares during the period. State Street Corp increased its position in shares of Heritage Commerce by 3.2% in the third quarter. State Street Corp now owns 1,965,643 shares of the financial services provider's stock valued at $19,421,000 after buying an additional 61,630 shares in the last quarter. GSA Capital Partners LLP raised its stake in shares of 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 worth $1,260,000 after buying an additional 42,167 shares during the period. Finally, Jane Street Group LLC grew its stake in Heritage Commerce by 55.6% in the 3rd quarter. Jane Street Group LLC now owns 103,596 shares of the financial services provider's stock valued at $1,024,000 after acquiring an additional 36,997 shares during the period. 75.55% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on HTBK. StockNews.com upgraded Heritage Commerce from a "sell" rating to a "hold" rating in a research report on Wednesday, December 4th. Keefe, Bruyette & Woods cut their price target on Heritage Commerce from $12.50 to $11.50 and set an "outperform" rating for the company in a report on Friday, January 24th. Finally, Stephens raised Heritage Commerce from an "equal weight" rating to an "overweight" rating in a research note on Friday, February 7th.

Heritage Commerce Trading Down 2.3 %

Shares of NASDAQ:HTBK traded down $0.25 during midday trading on Friday, reaching $10.50. 570,206 shares of the company's stock were exchanged, compared to its average volume of 406,971. The firm's 50 day simple moving average is $9.69 and its two-hundred day simple moving average is $9.91. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.73 and a quick ratio of 0.73. Heritage Commerce Corp has a fifty-two week low of $7.66 and a fifty-two week high of $11.27. The stock has a market cap of $643.65 million, a price-to-earnings ratio of 15.91 and a beta of 0.96.

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

Heritage Commerce Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, February 6th were given a $0.13 dividend. The ex-dividend date was Thursday, February 6th. This represents a $0.52 annualized dividend and a yield of 4.95%. Heritage Commerce's dividend payout ratio is presently 78.79%.

About Heritage Commerce

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.