Quest Partners LLC Raises Holdings in Heritage Commerce Corp (NASDAQ:HTBK)

Quest Partners LLC increased its position in Heritage Commerce Corp (NASDAQ:HTBK) by 6.9% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 58,569 shares of the financial services provider’s stock after purchasing an additional 3,795 shares during the period. Quest Partners LLC’s holdings in Heritage Commerce were worth $510,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC increased its position in Heritage Commerce by 185.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 4,856 shares of the financial services provider’s stock worth $42,000 after buying an additional 3,155 shares during the period. CWM LLC increased its holdings in shares of Heritage Commerce by 148.0% in the 2nd quarter. CWM LLC now owns 9,936 shares of the financial services provider’s stock valued at $86,000 after acquiring an additional 5,929 shares during the period. ProShare Advisors LLC acquired a new position in shares of Heritage Commerce in the 1st quarter valued at $91,000. Norden Group LLC purchased a new stake in Heritage Commerce in the 1st quarter valued at $111,000. Finally, Hennion & Walsh Asset Management Inc. purchased a new position in Heritage Commerce during the 1st quarter worth $122,000. 75.55% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. StockNews.com cut shares of Heritage Commerce from a “hold” rating to a “sell” rating in a report on Wednesday, July 10th. Piper Sandler upped their price objective on Heritage Commerce from $10.00 to $12.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Finally, Keefe, Bruyette & Woods lifted their target price on Heritage Commerce from $10.50 to $11.50 and gave the company an “outperform” rating in a research note on Friday, July 26th.

Heritage Commerce Price Performance

Shares of NASDAQ HTBK opened at $9.66 on Friday. The company’s fifty day moving average is $9.79 and its two-hundred day moving average is $8.75. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.76 and a current ratio of 0.76. The firm has a market capitalization of $591.73 million, a P/E ratio of 10.50 and a beta of 0.93. Heritage Commerce Corp has a one year low of $7.66 and a one year high of $10.99.

Heritage Commerce (NASDAQ:HTBK) last released its quarterly earnings data on Friday, July 26th. The financial services provider reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.04). Heritage Commerce had a return on equity of 7.21% and a net margin of 19.82%. The company had revenue of $61.35 million for the quarter, compared to analysts’ expectations of $43.35 million. Analysts forecast that Heritage Commerce Corp will post 0.66 EPS for the current fiscal year.

Heritage Commerce Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 8th were paid a $0.13 dividend. The ex-dividend date was Thursday, August 8th. This represents a $0.52 dividend on an annualized basis and a yield of 5.38%. Heritage Commerce’s payout ratio is 56.52%.

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.