JPMorgan Chase & Co. Decreases Stock Position in Heritage Commerce Corp (NASDAQ:HTBK)

JPMorgan Chase & Co. decreased its stake in shares of Heritage Commerce Corp (NASDAQ:HTBK) by 1.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,313,035 shares of the financial services provider’s stock after selling 32,023 shares during the quarter. JPMorgan Chase & Co.’s holdings in Heritage Commerce were worth $22,853,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. State Street Corp lifted its position in shares of Heritage Commerce by 3.2% during the 3rd quarter. State Street Corp now owns 1,965,643 shares of the financial services provider’s stock worth $19,421,000 after purchasing an additional 61,630 shares during the last quarter. Barclays PLC lifted its holdings in Heritage Commerce by 7.2% during the 3rd quarter. Barclays PLC now owns 216,439 shares of the financial services provider’s stock worth $2,139,000 after buying an additional 14,466 shares during the last quarter. Jane Street Group LLC boosted its position in shares of Heritage Commerce by 55.6% during the 3rd quarter. Jane Street Group LLC now owns 103,596 shares of the financial services provider’s stock worth $1,024,000 after acquiring an additional 36,997 shares in the last quarter. FMR LLC boosted its position in shares of Heritage Commerce by 103.7% during the 3rd quarter. FMR LLC now owns 7,832 shares of the financial services provider’s stock worth $77,000 after acquiring an additional 3,987 shares in the last quarter. Finally, Franklin Resources Inc. increased its holdings in shares of Heritage Commerce by 2.9% in the 3rd quarter. Franklin Resources Inc. now owns 46,089 shares of the financial services provider’s stock valued at $449,000 after acquiring an additional 1,302 shares during the last quarter. Institutional investors and hedge funds own 75.55% of the company’s stock.

Heritage Commerce Stock Down 0.8 %

Shares of NASDAQ:HTBK opened at $9.01 on Thursday. Heritage Commerce Corp has a fifty-two week low of $7.66 and a fifty-two week high of $11.27. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.06. The firm’s 50-day simple moving average is $10.13 and its 200-day simple moving average is $9.82. The company has a market cap of $552.34 million, a price-to-earnings ratio of 12.69 and a beta of 0.96.

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

Heritage Commerce Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 5.77%. The ex-dividend date of this dividend was Thursday, November 7th. Heritage Commerce’s dividend payout ratio (DPR) is presently 73.24%.

Analyst Ratings Changes

Separately, StockNews.com raised shares of Heritage Commerce from a “sell” rating to a “hold” rating in a report on Wednesday, December 4th.

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.