Heritage Commerce Corp (NASDAQ:HTBK) Position Trimmed by Victory Capital Management Inc.

Victory Capital Management Inc. reduced its holdings in Heritage Commerce Corp (NASDAQ:HTBK) by 1.1% during the third quarter, HoldingsChannel reports. The institutional investor owned 112,800 shares of the financial services provider’s stock after selling 1,200 shares during the period. Victory Capital Management Inc.’s holdings in Heritage Commerce were worth $1,114,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of HTBK. nVerses Capital LLC bought a new position in Heritage Commerce in the third quarter worth about $73,000. CWM LLC raised its position in shares of Heritage Commerce by 148.0% during the 2nd 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 period. One Wealth Advisors LLC bought a new stake in shares of Heritage Commerce in the 3rd quarter worth approximately $99,000. NorthCrest Asset Manangement LLC acquired a new position in Heritage Commerce during the 3rd quarter valued at approximately $100,000. Finally, ProShare Advisors LLC bought a new position in Heritage Commerce during the 1st quarter worth $91,000. 75.55% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, StockNews.com cut Heritage Commerce from a “hold” rating to a “sell” rating in a research note on Tuesday.

Heritage Commerce Price Performance

NASDAQ HTBK opened at $10.73 on Wednesday. The company has a 50-day moving average price of $10.03 and a two-hundred day moving average price of $9.42. The stock has a market cap of $657.78 million, a price-to-earnings ratio of 15.23 and a beta of 0.93. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.06. Heritage Commerce Corp has a 52 week low of $7.66 and a 52 week high of $11.27.

Heritage Commerce (NASDAQ:HTBK) last issued its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.17 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.17. The business had revenue of $63.68 million during the quarter, compared to analyst estimates of $43.14 million. Heritage Commerce had a return on equity of 6.37% and a net margin of 17.61%. Analysts forecast that Heritage Commerce Corp will post 0.66 EPS for the current year.

Heritage Commerce Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 4.85%. The ex-dividend date was Thursday, November 7th. Heritage Commerce’s dividend payout ratio (DPR) is 73.24%.

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.