Banc Funds Co. LLC Sells 155,800 Shares of Heritage Commerce Corp (NASDAQ:HTBK)

Banc Funds Co. LLC reduced its position in Heritage Commerce Corp (NASDAQ:HTBK) by 36.3% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 272,839 shares of the financial services provider’s stock after selling 155,800 shares during the period. Banc Funds Co. LLC’s holdings in Heritage Commerce were worth $2,696,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in HTBK. Assenagon Asset Management S.A. grew its position in shares of Heritage Commerce by 830.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,024,377 shares of the financial services provider’s stock worth $8,912,000 after buying an additional 914,249 shares during the period. Vanguard Group Inc. boosted its stake in Heritage Commerce by 3.9% in the first quarter. Vanguard Group Inc. now owns 3,309,141 shares of the financial services provider’s stock valued at $28,392,000 after acquiring an additional 123,973 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Heritage Commerce by 27.7% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 16,262 shares of the financial services provider’s stock valued at $161,000 after acquiring an additional 3,529 shares during the last quarter. Hennion & Walsh Asset Management Inc. grew its holdings in Heritage Commerce by 106.9% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 29,300 shares of the financial services provider’s stock worth $255,000 after acquiring an additional 15,136 shares during the period. Finally, CWM LLC raised its position in shares of 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 acquiring an additional 5,929 shares during the last quarter. Institutional investors own 75.55% of the company’s stock.

Heritage Commerce Stock Performance

Shares of HTBK stock opened at $10.62 on Monday. The stock has a 50-day moving average of $10.07 and a 200-day moving average of $9.47. Heritage Commerce Corp has a one year low of $7.66 and a one year high of $11.27. The stock has a market cap of $651.01 million, a PE ratio of 14.96 and a beta of 0.93. 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 (NASDAQ:HTBK) last released its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.17 EPS for the quarter, meeting analysts’ consensus estimates of $0.17. The business had revenue of $63.68 million during the quarter, compared to analysts’ expectations of $43.14 million. Heritage Commerce had a net margin of 17.61% and a return on equity of 6.37%. As a group, sell-side analysts expect that Heritage Commerce Corp will post 0.66 earnings per share for the current year.

Heritage Commerce Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Shareholders 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 annualized dividend and a dividend yield of 4.90%. Heritage Commerce’s dividend payout ratio (DPR) is currently 73.24%.

Analyst Ratings Changes

Separately, StockNews.com lowered Heritage Commerce from a “hold” rating to a “sell” rating in a research report on Tuesday, November 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.