Heritage Commerce Corp (NASDAQ:HTBK) Shares Sold by Atom Investors LP

Atom Investors LP lessened its stake in shares of Heritage Commerce Corp (NASDAQ:HTBK) by 44.5% during the third quarter, HoldingsChannel reports. The firm owned 159,535 shares of the financial services provider’s stock after selling 127,675 shares during the period. Atom Investors LP’s holdings in Heritage Commerce were worth $1,576,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Heritage Commerce by 3.9% during the 1st quarter. Vanguard Group Inc. now owns 3,309,141 shares of the financial services provider’s stock valued at $28,392,000 after buying an additional 123,973 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of Heritage Commerce by 14.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 16,966 shares of the financial services provider’s stock valued at $146,000 after purchasing an additional 2,159 shares during the period. CWM LLC lifted its position in shares of Heritage Commerce by 148.0% during the second quarter. CWM LLC now owns 9,936 shares of the financial services provider’s stock worth $86,000 after purchasing an additional 5,929 shares in the last quarter. Diversified Trust Co lifted its position in shares of Heritage Commerce by 13.7% during the second quarter. Diversified Trust Co now owns 18,752 shares of the financial services provider’s stock worth $163,000 after purchasing an additional 2,262 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in shares of Heritage Commerce by 830.2% in the second quarter. Assenagon Asset Management S.A. now owns 1,024,377 shares of the financial services provider’s stock valued at $8,912,000 after purchasing an additional 914,249 shares during the period. Hedge funds and other institutional investors own 75.55% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of Heritage Commerce from a “hold” rating to a “sell” rating in a research note on Tuesday, November 26th.

Heritage Commerce Price Performance

Shares of NASDAQ HTBK opened at $10.59 on Tuesday. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.06. Heritage Commerce Corp has a fifty-two week low of $7.66 and a fifty-two week high of $11.27. The business has a 50 day moving average price of $10.07 and a two-hundred day moving average price of $9.48. The firm has a market cap of $649.20 million, a PE ratio of 14.92 and a beta of 0.93.

Heritage Commerce (NASDAQ:HTBK) last released its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.17 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.17. The business had revenue of $63.68 million during the quarter, compared to the consensus estimate of $43.14 million. Heritage Commerce had a net margin of 17.61% and a return on equity of 6.37%. Sell-side analysts expect that Heritage Commerce Corp will post 0.66 earnings per share 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 given a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 4.91%. The ex-dividend date was Thursday, November 7th. Heritage Commerce’s payout ratio is currently 73.24%.

Heritage Commerce Company 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.