Intech Investment Management LLC Purchases Shares of 11,791 Heritage Commerce Corp (NASDAQ:HTBK)

Intech Investment Management LLC purchased a new stake in shares of Heritage Commerce Corp (NASDAQ:HTBK) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 11,791 shares of the financial services provider’s stock, valued at approximately $116,000.

Other institutional investors have also added to or reduced their stakes in the company. Assenagon Asset Management S.A. grew its holdings in Heritage Commerce by 830.2% during the 2nd 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 buying an additional 914,249 shares in the last quarter. Vanguard Group Inc. grew its holdings in Heritage Commerce by 3.9% during 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. Wealth Enhancement Advisory Services LLC grew its holdings in Heritage Commerce by 27.7% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 16,262 shares of the financial services provider’s stock valued at $161,000 after buying an additional 3,529 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its holdings in Heritage Commerce by 106.9% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 29,300 shares of the financial services provider’s stock valued at $255,000 after buying an additional 15,136 shares in the last quarter. Finally, CWM LLC grew its holdings in Heritage Commerce by 148.0% during the 2nd quarter. CWM LLC now owns 9,936 shares of the financial services provider’s stock valued at $86,000 after buying an additional 5,929 shares in the last quarter. Hedge funds and other institutional investors own 75.55% of the company’s stock.

Heritage Commerce Price Performance

Shares of Heritage Commerce stock opened at $10.52 on Friday. The stock has a market cap of $644.88 million, a price-to-earnings ratio of 14.82 and a beta of 0.94. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.73 and a current ratio of 0.73. The stock has a 50 day moving average price of $10.14 and a 200-day moving average price of $9.55. Heritage Commerce Corp has a one year low of $7.66 and a one year high of $11.27.

Heritage Commerce (NASDAQ:HTBK) last announced its earnings results on Thursday, October 24th. The financial services provider reported $0.17 EPS for the quarter, hitting analysts’ consensus estimates of $0.17. The firm had revenue of $63.68 million during the quarter, compared to analysts’ expectations of $43.14 million. Heritage Commerce had a return on equity of 6.37% and a net margin of 17.61%. Equities analysts expect 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. Investors of record on Thursday, November 7th were paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 4.94%. The ex-dividend date was Thursday, November 7th. Heritage Commerce’s dividend payout ratio is currently 73.24%.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Heritage Commerce from a “sell” rating to a “hold” rating in a report on Wednesday.

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.