Heritage Commerce Corp (NASDAQ:HTBK) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. trimmed its stake in shares of Heritage Commerce Corp (NASDAQ:HTBK) by 1.2% in the fourth quarter, Holdings Channel reports. The fund owned 3,387,072 shares of the financial services provider’s stock after selling 40,143 shares during the period. Vanguard Group Inc. owned 0.06% of Heritage Commerce worth $31,771,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of HTBK. Franklin Resources Inc. boosted its position in shares of 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 purchasing an additional 1,302 shares in the last quarter. US Bancorp DE raised its holdings 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 valued at $33,000 after acquiring an additional 1,365 shares during the last quarter. SG Americas Securities LLC boosted its stake in Heritage Commerce by 5.9% in 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 during the last quarter. Aigen Investment Management LP grew its holdings in Heritage Commerce by 21.1% in the fourth quarter. Aigen Investment Management LP now owns 15,866 shares of the financial services provider’s stock valued at $149,000 after purchasing an additional 2,764 shares during the period. Finally, FMR LLC increased its holdings in shares of Heritage Commerce by 103.7% during the 3rd quarter. FMR LLC now owns 7,832 shares of the financial services provider’s stock worth $77,000 after buying an additional 3,987 shares during the last quarter. Hedge funds and other institutional investors own 75.55% of the company’s stock.

Heritage Commerce Trading Up 0.1 %

Shares of NASDAQ:HTBK opened at $8.26 on Monday. Heritage Commerce Corp has a fifty-two week low of $7.66 and a fifty-two week high of $11.27. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.06. The company has a market cap of $508.91 million, a PE ratio of 12.52 and a beta of 0.81. The company’s 50-day moving average price is $9.78 and its 200 day moving average price is $9.83.

Heritage Commerce (NASDAQ:HTBK) last posted 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%. Sell-side analysts anticipate that Heritage Commerce Corp will post 0.8 earnings per share for the current year.

Heritage Commerce Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 6th were paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 6.30%. The ex-dividend date of this dividend was Thursday, February 6th. Heritage Commerce’s dividend payout ratio is presently 78.79%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on HTBK shares. Stephens upgraded shares of Heritage Commerce from a “hold” rating to a “strong-buy” rating in a report on Monday, March 3rd. Keefe, Bruyette & Woods decreased their target price on Heritage Commerce from $12.50 to $11.50 and set an “outperform” rating for the company in a research report on Friday, January 24th.

Insider Buying and Selling

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

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.