Evergreen Capital Management LLC Has $237,000 Position in Heritage Commerce Corp (NASDAQ:HTBK)

Evergreen Capital Management LLC lessened its stake in shares of Heritage Commerce Corp (NASDAQ:HTBK) by 3.9% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 27,277 shares of the financial services provider’s stock after selling 1,102 shares during the quarter. Evergreen Capital Management LLC’s holdings in Heritage Commerce were worth $237,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of HTBK. Assenagon Asset Management S.A. lifted its position in Heritage Commerce by 830.2% during the second quarter. Assenagon Asset Management S.A. now owns 1,024,377 shares of the financial services provider’s stock worth $8,912,000 after acquiring an additional 914,249 shares during the last quarter. Banc Funds Co. LLC boosted its stake in Heritage Commerce by 8.2% in the 4th quarter. Banc Funds Co. LLC now owns 683,598 shares of the financial services provider’s stock valued at $6,781,000 after purchasing an additional 51,515 shares during the period. Vanguard Group Inc. grew its holdings in Heritage Commerce by 3.9% in the 1st quarter. Vanguard Group Inc. now owns 3,309,141 shares of the financial services provider’s stock valued at $28,392,000 after buying an additional 123,973 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position 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 worth $42,000 after buying an additional 3,155 shares during the period. Finally, Empowered Funds LLC lifted its holdings in shares of Heritage Commerce by 8.1% during the first quarter. Empowered Funds LLC now owns 132,835 shares of the financial services provider’s stock worth $1,140,000 after buying an additional 9,975 shares in the last quarter. Institutional investors own 75.55% of the company’s stock.

Heritage Commerce Stock Performance

Shares of NASDAQ:HTBK opened at $9.67 on Friday. Heritage Commerce Corp has a 1 year low of $7.66 and a 1 year high of $10.99. The stock has a market capitalization of $592.35 million, a price-to-earnings ratio of 10.51 and a beta of 0.93. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.76 and a quick ratio of 0.76. The company’s 50 day simple moving average is $9.95 and its 200 day simple moving average is $8.88.

Heritage Commerce (NASDAQ:HTBK) last released its quarterly earnings data 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 during the quarter, compared to analyst estimates of $43.35 million. Heritage Commerce had a net margin of 19.82% and a return on equity of 7.21%. As a group, research analysts predict that Heritage Commerce Corp will post 0.66 EPS for the current fiscal year.

Heritage Commerce Announces Dividend

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

Wall Street Analyst Weigh In

Several research firms recently commented on HTBK. StockNews.com downgraded 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 report on Friday, July 26th. Finally, Keefe, Bruyette & Woods lifted their price objective on Heritage Commerce from $10.50 to $11.50 and gave the company an “outperform” rating in a report 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.