Natixis Advisors LLC Buys New Position in Heritage Commerce Corp (NASDAQ:HTBK)

Natixis Advisors LLC purchased a new position in shares of Heritage Commerce Corp (NASDAQ:HTBK) during the second quarter, Holdings Channel.com reports. The fund purchased 27,070 shares of the financial services provider’s stock, valued at approximately $236,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its position in shares of Heritage Commerce by 14.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 16,966 shares of the financial services provider’s stock valued at $146,000 after acquiring an additional 2,159 shares during the last quarter. Diversified Trust Co raised its stake in Heritage Commerce by 13.7% during the 2nd quarter. Diversified Trust Co now owns 18,752 shares of the financial services provider’s stock valued at $163,000 after purchasing an additional 2,262 shares during the period. Pacific Ridge Capital Partners LLC lifted its holdings in shares of Heritage Commerce by 3.2% in the first quarter. Pacific Ridge Capital Partners LLC now owns 99,301 shares of the financial services provider’s stock valued at $852,000 after purchasing an additional 3,108 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in Heritage Commerce by 185.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 4,856 shares of the financial services provider’s stock valued at $42,000 after acquiring an additional 3,155 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Heritage Commerce by 20.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,077 shares of the financial services provider’s stock worth $192,000 after purchasing an additional 3,696 shares in the last quarter. 75.55% of the stock is currently owned by institutional investors.

Heritage Commerce Price Performance

NASDAQ HTBK opened at $9.95 on Friday. The company has a market cap of $609.84 million, a P/E ratio of 10.82 and a beta of 0.93. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.06. Heritage Commerce Corp has a 1 year low of $7.66 and a 1 year high of $10.99. The company has a fifty day simple moving average of $9.82 and a 200 day simple moving average of $8.77.

Heritage Commerce (NASDAQ:HTBK) last announced its earnings results on Friday, July 26th. The financial services provider reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.04). The business had revenue of $61.35 million for the quarter, compared to the consensus estimate of $43.35 million. Heritage Commerce had a net margin of 19.82% and a return on equity of 7.21%. On average, sell-side analysts predict that Heritage Commerce Corp will post 0.66 EPS for the current year.

Heritage Commerce Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 8th were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 5.23%. The ex-dividend date of this dividend was Thursday, August 8th. Heritage Commerce’s dividend payout ratio (DPR) is presently 56.52%.

Analyst Ratings Changes

HTBK has been the subject of a number of research reports. Piper Sandler lifted their target price on shares of Heritage Commerce from $10.00 to $12.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Keefe, Bruyette & Woods increased their price objective on Heritage Commerce from $10.50 to $11.50 and gave the stock an “outperform” rating in a report on Friday, July 26th. Finally, StockNews.com lowered shares of Heritage Commerce from a “hold” rating to a “sell” rating in a research note on Wednesday, July 10th.

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.