Heritage Commerce Corp (NASDAQ:HTBK) Short Interest Update

Heritage Commerce Corp (NASDAQ:HTBK) was the recipient of a large growth in short interest during the month of November. As of November 15th, there was short interest totalling 520,200 shares, a growth of 12.8% from the October 31st total of 461,100 shares. Currently, 0.9% of the company’s shares are short sold. Based on an average daily volume of 357,000 shares, the short-interest ratio is currently 1.5 days.

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On Heritage Commerce

Several institutional investors have recently modified their holdings of HTBK. Wellington Management Group LLP purchased a new stake in shares of Heritage Commerce during the 3rd quarter worth $20,093,000. Assenagon Asset Management S.A. lifted 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 purchasing an additional 914,249 shares during the last quarter. American Century Companies Inc. lifted its position in Heritage Commerce by 21.2% in the second quarter. American Century Companies Inc. now owns 921,389 shares of the financial services provider’s stock valued at $8,016,000 after acquiring an additional 160,977 shares during the last quarter. AQR Capital Management LLC lifted its position in Heritage Commerce by 32.5% in the second quarter. AQR Capital Management LLC now owns 544,471 shares of the financial services provider’s stock valued at $4,737,000 after acquiring an additional 133,514 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position 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. 75.55% of the stock is owned by hedge funds and other institutional investors.

Heritage Commerce Stock Down 0.3 %

Shares of NASDAQ:HTBK traded down $0.03 during trading on Monday, hitting $10.59. The company’s stock had a trading volume of 248,333 shares, compared to its average volume of 388,242. The business has a 50 day moving average price of $10.07 and a two-hundred day moving average price of $9.48. The company has a market capitalization of $649.20 million, a PE ratio of 14.92 and a beta of 0.93. 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 has a fifty-two week low of $7.66 and a fifty-two week high of $11.27.

Heritage Commerce (NASDAQ:HTBK) last posted its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.17 EPS for the quarter, hitting the consensus estimate 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%. As a group, research analysts expect that Heritage Commerce will post 0.66 EPS for the current fiscal year.

Heritage Commerce Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th were given a dividend of $0.13 per share. The ex-dividend date was Thursday, November 7th. This represents a $0.52 annualized dividend and a dividend yield of 4.91%. Heritage Commerce’s dividend payout ratio (DPR) 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.