Heritage Commerce Corp (NASDAQ:HTBK) Shares Sold by Quest Partners LLC

Quest Partners LLC lessened its holdings in Heritage Commerce Corp (NASDAQ:HTBK) by 52.5% during the third quarter, HoldingsChannel.com reports. The fund owned 27,802 shares of the financial services provider’s stock after selling 30,767 shares during the quarter. Quest Partners LLC’s holdings in Heritage Commerce were worth $275,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in HTBK. Vanguard Group Inc. boosted 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 worth $28,392,000 after acquiring an additional 123,973 shares during the period. Assenagon Asset Management S.A. boosted its stake in shares of Heritage Commerce by 830.2% in the second quarter. Assenagon Asset Management S.A. now owns 1,024,377 shares of the financial services provider’s stock valued at $8,912,000 after purchasing an additional 914,249 shares during the period. American Century Companies Inc. boosted its stake in shares of Heritage Commerce by 21.2% in the second quarter. American Century Companies Inc. now owns 921,389 shares of the financial services provider’s stock valued at $8,016,000 after purchasing an additional 160,977 shares during the period. AlTi Global Inc. grew its holdings in Heritage Commerce by 1.1% during the 2nd quarter. AlTi Global Inc. now owns 648,286 shares of the financial services provider’s stock valued at $5,640,000 after purchasing an additional 6,747 shares in the last quarter. Finally, AQR Capital Management LLC increased its stake in Heritage Commerce by 32.5% during the 2nd quarter. AQR Capital Management LLC now owns 544,471 shares of the financial services provider’s stock worth $4,737,000 after buying an additional 133,514 shares during the period. Institutional investors and hedge funds own 75.55% of the company’s stock.

Analyst Ratings Changes

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

Heritage Commerce Stock Performance

Heritage Commerce stock opened at $10.73 on Wednesday. Heritage Commerce Corp has a 52 week low of $7.66 and a 52 week high of $11.27. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.06. The stock has a market cap of $657.78 million, a P/E ratio of 15.11 and a beta of 0.93. The stock has a 50 day moving average of $10.03 and a 200-day moving average of $9.42.

Heritage Commerce (NASDAQ:HTBK) last posted its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.17 EPS for the quarter, meeting analysts’ consensus estimates of $0.17. The firm had revenue of $63.68 million for the quarter, compared to the consensus estimate of $43.14 million. Heritage Commerce had a net margin of 17.61% and a return on equity of 6.37%. On average, analysts expect that Heritage Commerce Corp will post 0.66 EPS for the current fiscal year.

Heritage Commerce Announces Dividend

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

About Heritage Commerce

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.