Heritage Commerce Corp (NASDAQ:HTBK) Shares Sold by Voya Investment Management LLC

Voya Investment Management LLC cut its holdings in Heritage Commerce Corp (NASDAQ:HTBK) by 6.0% in the 4th quarter, HoldingsChannel reports. The fund owned 21,500 shares of the financial services provider’s stock after selling 1,370 shares during the period. Voya Investment Management LLC’s holdings in Heritage Commerce were worth $202,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. US Bancorp DE grew 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 buying an additional 1,365 shares during the period. Y Intercept Hong Kong Ltd acquired a new position in Heritage Commerce during the fourth quarter worth approximately $99,000. Holcombe Financial Inc. purchased a new position in Heritage Commerce during the fourth quarter worth approximately $118,000. Fox Run Management L.L.C. purchased a new position in Heritage Commerce during the fourth quarter worth approximately $123,000. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of Heritage Commerce in the 4th quarter valued at $129,000. Hedge funds and other institutional investors own 75.55% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on HTBK. Stephens restated an “overweight” rating and set a $11.00 price objective on shares of Heritage Commerce in a report on Monday, April 28th. Raymond James set a $10.00 price target on Heritage Commerce in a research note on Monday, April 28th. Finally, Keefe, Bruyette & Woods cut their price objective on Heritage Commerce from $11.50 to $11.00 and set an “outperform” rating on the stock in a report on Friday, April 25th.

Heritage Commerce Stock Performance

Shares of HTBK stock opened at $9.51 on Wednesday. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.06. The company has a market cap of $585.78 million, a PE ratio of 14.41 and a beta of 0.77. The company’s fifty day simple moving average is $9.14 and its 200-day simple moving average is $9.73. Heritage Commerce Corp has a 52 week low of $7.74 and a 52 week high of $11.27.

Heritage Commerce (NASDAQ:HTBK) last released its quarterly earnings data on Thursday, April 24th. The financial services provider reported $0.19 EPS for the quarter, beating the consensus estimate of $0.18 by $0.01. The company had revenue of $46.06 million for the quarter, compared to analyst estimates of $45.89 million. Heritage Commerce had a return on equity of 5.96% and a net margin of 16.12%. As a group, equities research analysts anticipate that Heritage Commerce Corp will post 0.8 EPS for the current year.

Heritage Commerce Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Investors of record on Thursday, May 8th will be given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 5.47%. The ex-dividend date is Thursday, May 8th. Heritage Commerce’s dividend payout ratio (DPR) is presently 76.47%.

Insiders Place Their Bets

In other Heritage Commerce news, Director Jack W. Conner sold 4,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the director now owns 108,512 shares in the company, valued at $1,141,546.24. This trade represents a 3.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Robertson Clay Jones, Jr. sold 5,145 shares of Heritage Commerce 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 sale, the chief executive officer now owns 254,227 shares in the company, valued at $2,473,628.71. This represents a 1.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 10,747 shares of company stock worth $107,728 in the last 90 days. 2.71% of the stock is owned by company insiders.

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.