Raymond James & Associates Lowers Stock Holdings in Heritage Commerce Corp (NASDAQ:HTBK)

Raymond James & Associates reduced its stake in Heritage Commerce Corp (NASDAQ:HTBKFree Report) by 39.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,654 shares of the financial services provider’s stock after selling 8,076 shares during the period. Raymond James & Associates’ holdings in Heritage Commerce were worth $107,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Captrust Financial Advisors boosted its holdings in Heritage Commerce by 132.4% in the 2nd quarter. Captrust Financial Advisors now owns 3,596 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 2,049 shares during the period. Signaturefd LLC boosted its stake in Heritage Commerce by 279.6% during the 2nd quarter. Signaturefd LLC now owns 5,140 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 3,786 shares during the last quarter. Great West Life Assurance Co. Can raised its holdings in shares of Heritage Commerce by 35.7% during the first quarter. Great West Life Assurance Co. Can now owns 6,253 shares of the financial services provider’s stock worth $73,000 after acquiring an additional 1,646 shares during the period. Quarry LP increased its stake in Heritage Commerce by 1,193.6% in the 1st quarter. Quarry LP now owns 8,835 shares of the financial services provider’s stock valued at $74,000 after buying an additional 8,152 shares during the last quarter. Finally, Alberta Investment Management Corp bought a new position in shares of Heritage Commerce in the 1st quarter valued at about $90,000. 72.80% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Heritage Commerce news, Director Jack W. Conner sold 6,944 shares of the business’s stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $8.92, for a total value of $61,940.48. Following the completion of the transaction, the director now directly owns 102,501 shares of the company’s stock, valued at $914,308.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 4.05% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on HTBK. Keefe, Bruyette & Woods lowered their price objective on shares of Heritage Commerce from $12.00 to $11.00 and set an “outperform” rating for the company in a research report on Friday, January 26th. StockNews.com downgraded shares of Heritage Commerce from a “hold” rating to a “sell” rating in a report on Tuesday. Piper Sandler increased their target price on shares of Heritage Commerce from $10.00 to $11.00 and gave the stock an “overweight” rating in a research report on Friday, January 26th. Finally, Raymond James lifted their target price on shares of Heritage Commerce from $9.50 to $11.00 and gave the company an “outperform” rating in a research report on Friday, January 5th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Heritage Commerce presently has an average rating of “Hold” and a consensus target price of $10.75.

Read Our Latest Research Report on Heritage Commerce

Heritage Commerce Stock Performance

HTBK stock opened at $8.14 on Thursday. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.06. The business’s fifty day simple moving average is $9.39 and its two-hundred day simple moving average is $8.95. Heritage Commerce Corp has a twelve month low of $6.69 and a twelve month high of $12.48. The firm has a market cap of $497.27 million, a price-to-earnings ratio of 7.68 and a beta of 0.92.

Heritage Commerce Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 22nd. Shareholders of record on Thursday, February 8th will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 6.39%. The ex-dividend date is Wednesday, February 7th. Heritage Commerce’s dividend payout ratio is presently 49.06%.

Heritage Commerce Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Heritage Commerce (NASDAQ:HTBK)

Receive News & Ratings for Heritage Commerce Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Heritage Commerce and related companies with MarketBeat.com's FREE daily email newsletter.