Intech Investment Management LLC Buys 20,068 Shares of Heritage Commerce Corp (NASDAQ:HTBK)

Intech Investment Management LLC increased its stake in shares of Heritage Commerce Corp (NASDAQ:HTBK) by 170.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,859 shares of the financial services provider’s stock after buying an additional 20,068 shares during the quarter. Intech Investment Management LLC owned 0.05% of Heritage Commerce worth $299,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of HTBK. US Bancorp DE lifted its holdings in shares of Heritage Commerce by 64.8% during the fourth quarter. US Bancorp DE now owns 3,473 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 1,365 shares during the period. FMR LLC increased 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 purchasing an additional 3,987 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in Heritage Commerce during the 4th quarter valued at about $99,000. Point72 Asset Management L.P. acquired a new position in Heritage Commerce in the third quarter valued at about $107,000. Finally, Verition Fund Management LLC bought a new stake in Heritage Commerce during the third quarter worth about $133,000. Institutional investors and hedge funds own 75.55% of the company’s stock.

Heritage Commerce Price Performance

Shares of HTBK stock opened at $9.62 on Wednesday. Heritage Commerce Corp has a 1 year low of $7.66 and a 1 year 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 firm’s 50 day moving average is $9.94 and its 200-day moving average is $9.94. The firm has a market capitalization of $591.08 million, a price-to-earnings ratio of 14.58 and a beta of 0.92.

Heritage Commerce (NASDAQ:HTBK) last posted its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $0.17 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.17. Heritage Commerce had a return on equity of 5.96% and a net margin of 16.12%. Sell-side analysts forecast that Heritage Commerce Corp will post 0.8 EPS for the current fiscal year.

Heritage Commerce Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Thursday, February 6th were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 5.41%. The ex-dividend date of this dividend was Thursday, February 6th. Heritage Commerce’s dividend payout ratio is 78.79%.

Insider Buying and Selling

In other Heritage Commerce news, CEO Robertson Clay Jones, Jr. sold 5,145 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $9.73, for a total value of $50,060.85. Following the transaction, the chief executive officer now directly owns 254,227 shares of the company’s stock, valued at approximately $2,473,628.71. This trade represents a 1.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jack W. Conner sold 4,000 shares of the company’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $10.52, for a total transaction of $42,080.00. Following the sale, the director now owns 108,512 shares of the company’s stock, valued at $1,141,546.24. The trade was a 3.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 10,747 shares of company stock worth $107,728 over the last three months. 3.99% of the stock is currently owned by company insiders.

Analyst Ratings Changes

HTBK has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods cut their target price on shares of Heritage Commerce from $12.50 to $11.50 and set an “outperform” rating for the company in a research note on Friday, January 24th. Stephens raised Heritage Commerce from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 3rd. Finally, StockNews.com upgraded Heritage Commerce from a “sell” rating to a “hold” rating in a report on Wednesday, December 4th.

Heritage Commerce Company 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.