Heritage Commerce Corp (NASDAQ:HTBK) Shares Purchased by AlTi Global Inc.

AlTi Global Inc. increased its position in shares of Heritage Commerce Corp (NASDAQ:HTBK) by 1.1% in the 2nd quarter, Holdings Channel.com reports. The firm owned 648,286 shares of the financial services provider’s stock after acquiring an additional 6,747 shares during the quarter. AlTi Global Inc.’s holdings in Heritage Commerce were worth $5,640,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of 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 purchasing an additional 3,155 shares during the last quarter. CWM LLC increased its position in Heritage Commerce by 148.0% during the second quarter. CWM LLC now owns 9,936 shares of the financial services provider’s stock worth $86,000 after purchasing an additional 5,929 shares during the last quarter. ProShare Advisors LLC purchased a new position in Heritage Commerce during the first quarter worth about $91,000. Norden Group LLC purchased a new position in Heritage Commerce during the first quarter worth about $111,000. Finally, Hennion & Walsh Asset Management Inc. purchased a new position in Heritage Commerce during the first quarter worth about $122,000. 75.55% of the stock is currently owned by institutional investors and hedge funds.

Heritage Commerce Trading Down 2.1 %

NASDAQ HTBK opened at $9.97 on Wednesday. The firm has a 50 day simple moving average of $9.97 and a 200-day simple moving average of $8.86. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.76 and a current ratio of 0.76. Heritage Commerce Corp has a one year low of $7.66 and a one year high of $10.99. The firm has a market cap of $611.06 million, a price-to-earnings ratio of 10.84 and a beta of 0.93.

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

Heritage Commerce Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th were paid a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 5.22%. The ex-dividend date was Thursday, August 8th. Heritage Commerce’s payout ratio is 56.52%.

Analyst Ratings Changes

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

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.