State Street Corp Has $19.42 Million Stake in Heritage Commerce Corp (NASDAQ:HTBK)

State Street Corp lifted its position in Heritage Commerce Corp (NASDAQ:HTBK - Free Report) by 3.2% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,965,643 shares of the financial services provider's stock after buying an additional 61,630 shares during the period. State Street Corp owned about 3.21% of Heritage Commerce worth $19,421,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. nVerses Capital LLC acquired a new stake in shares of Heritage Commerce during the third quarter worth $73,000. FMR LLC increased its position in shares of Heritage Commerce by 103.7% in the third quarter. FMR LLC now owns 7,832 shares of the financial services provider's stock valued at $77,000 after acquiring an additional 3,987 shares during the last quarter. One Wealth Advisors LLC bought a new stake in Heritage Commerce during the third quarter worth about $99,000. NorthCrest Asset Manangement LLC acquired a new position in Heritage Commerce during the third quarter valued at approximately $100,000. Finally, Point72 Asset Management L.P. bought a new position in Heritage Commerce in the third quarter valued at approximately $107,000. Institutional investors and hedge funds own 75.55% of the company's stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Heritage Commerce from a "sell" rating to a "hold" rating in a research note on Wednesday, December 4th.

Heritage Commerce Stock Performance

NASDAQ HTBK traded up $0.04 during trading on Tuesday, reaching $9.56. The company's stock had a trading volume of 139,637 shares, compared to its average volume of 383,294. Heritage Commerce Corp has a 12 month low of $7.66 and a 12 month high of $11.27. The firm has a 50 day moving average price of $10.23 and a 200 day moving average price of $9.72. The firm has a market capitalization of $586.06 million, a price-to-earnings ratio of 13.46 and a beta of 0.94. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.06.

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, meeting the consensus estimate of $0.17. Heritage Commerce had a net margin of 17.61% and a return on equity of 6.37%. The firm had revenue of $63.68 million for the quarter, compared to analyst estimates of $43.14 million. As a group, equities analysts anticipate that Heritage Commerce Corp will post 0.66 EPS for the current fiscal year.

Heritage Commerce Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th were issued a $0.13 dividend. The ex-dividend date was Thursday, November 7th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 5.44%. Heritage Commerce's dividend payout ratio (DPR) is currently 73.24%.

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.