Y Intercept Hong Kong Ltd Invests $99,000 in Heritage Commerce Corp (NASDAQ:HTBK)

Y Intercept Hong Kong Ltd acquired a new stake in Heritage Commerce Corp (NASDAQ:HTBK) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 10,529 shares of the financial services provider’s stock, valued at approximately $99,000.

Other hedge funds also recently bought and sold shares of the company. Wellington Management Group LLP bought a new position in Heritage Commerce in the 3rd quarter valued at $20,093,000. State Street Corp increased its holdings in shares of Heritage Commerce by 3.2% in the third quarter. State Street Corp now owns 1,965,643 shares of the financial services provider’s stock worth $19,421,000 after purchasing an additional 61,630 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Heritage Commerce by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 496,190 shares of the financial services provider’s stock worth $4,902,000 after buying an additional 6,884 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in Heritage Commerce by 58.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 463,774 shares of the financial services provider’s stock valued at $4,350,000 after buying an additional 170,989 shares during the period. Finally, State of New Jersey Common Pension Fund D grew its position in Heritage Commerce by 16.9% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 310,915 shares of the financial services provider’s stock worth $2,916,000 after buying an additional 45,010 shares in the last quarter. Hedge funds and other institutional investors own 75.55% of the company’s stock.

Heritage Commerce Trading Down 0.4 %

NASDAQ HTBK opened at $10.08 on Thursday. 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 stock’s 50-day simple moving average is $9.79 and its two-hundred day simple moving average is $9.96. Heritage Commerce Corp has a twelve month low of $7.66 and a twelve month high of $11.27. The company has a market capitalization of $617.93 million, a price-to-earnings ratio of 15.27 and a beta of 0.96.

Heritage Commerce (NASDAQ:HTBK) last announced its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $0.17 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.17. Heritage Commerce had a return on equity of 5.96% and a net margin of 16.12%. Research analysts forecast that Heritage Commerce Corp will post 0.8 EPS for the current fiscal year.

Heritage Commerce Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 6th were issued a $0.13 dividend. The ex-dividend date of this dividend was Thursday, February 6th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 5.16%. Heritage Commerce’s payout ratio is 78.79%.

Insider Activity

In other news, Director Jack W. Conner sold 4,000 shares of the business’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $10.52, for a total value of $42,080.00. Following the completion of the sale, the director now owns 108,512 shares of the company’s stock, valued at approximately $1,141,546.24. The trade was a 3.56 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 3.99% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Keefe, Bruyette & Woods lowered their price target on Heritage Commerce from $12.50 to $11.50 and set an “outperform” rating on the stock in a report on Friday, January 24th. StockNews.com raised shares of Heritage Commerce from a “sell” rating to a “hold” rating in a research note on Wednesday, December 4th. Finally, Stephens raised shares of Heritage Commerce from an “equal weight” rating to an “overweight” rating in a research note on Friday, February 7th.

About Heritage Commerce

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.