Vanguard Group Inc. Sells 40,143 Shares of Heritage Commerce Corp (NASDAQ:HTBK)

Vanguard Group Inc. lowered its holdings in Heritage Commerce Corp (NASDAQ:HTBK - Free Report) by 1.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,387,072 shares of the financial services provider's stock after selling 40,143 shares during the quarter. Vanguard Group Inc. owned about 5.53% of Heritage Commerce worth $31,771,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the business. Franklin Resources Inc. lifted its position in Heritage Commerce by 2.9% during the 3rd quarter. Franklin Resources Inc. now owns 46,089 shares of the financial services provider's stock worth $449,000 after buying an additional 1,302 shares in the last quarter. US Bancorp DE raised its position in Heritage Commerce by 64.8% in the 4th quarter. US Bancorp DE now owns 3,473 shares of the financial services provider's stock worth $33,000 after purchasing an additional 1,365 shares during the last quarter. SG Americas Securities LLC lifted its holdings in Heritage Commerce by 5.9% during the 4th quarter. SG Americas Securities LLC now owns 45,763 shares of the financial services provider's stock worth $429,000 after buying an additional 2,558 shares in the last quarter. Aigen Investment Management LP boosted its position in Heritage Commerce by 21.1% in the 4th quarter. Aigen Investment Management LP now owns 15,866 shares of the financial services provider's stock valued at $149,000 after buying an additional 2,764 shares during the last quarter. Finally, FMR LLC increased its stake in shares of Heritage Commerce by 103.7% in the 3rd quarter. FMR LLC now owns 7,832 shares of the financial services provider's stock valued at $77,000 after buying an additional 3,987 shares during the period. Institutional investors own 75.55% of the company's stock.

Heritage Commerce Trading Up 0.6 %

NASDAQ:HTBK traded up $0.05 during mid-day trading on Friday, hitting $8.66. The company had a trading volume of 580,610 shares, compared to its average volume of 377,581. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.73 and a current 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 firm has a market cap of $533.55 million, a P/E ratio of 13.12 and a beta of 0.81. The business's fifty day moving average is $9.60 and its two-hundred day moving average is $9.79.

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

Heritage Commerce Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Thursday, February 6th were given a $0.13 dividend. The ex-dividend date of this dividend was Thursday, February 6th. This represents a $0.52 annualized dividend and a dividend yield of 6.00%. Heritage Commerce's dividend payout ratio is presently 78.79%.

Insider Buying and Selling

In other news, CEO Robertson Clay Jones, Jr. sold 5,145 shares of the business's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $9.73, for a total value of $50,060.85. Following the sale, the chief executive officer now directly owns 254,227 shares in the company, valued at $2,473,628.71. The trade was a 1.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jack W. Conner sold 4,000 shares of the business's stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $10.52, for a total value of $42,080.00. Following the completion of the sale, the director now owns 108,512 shares in the company, valued at $1,141,546.24. The trade was a 3.56 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 10,747 shares of company stock valued at $107,728. 3.99% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Stephens raised Heritage Commerce from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 3rd. Keefe, Bruyette & Woods reduced their target price on shares of Heritage Commerce from $12.50 to $11.50 and set an "outperform" rating on the stock in a research note on Friday, January 24th.

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.