Heritage Commerce Corp (NASDAQ:HTBK) Position Reduced by Quantbot Technologies LP

Quantbot Technologies LP reduced its position in Heritage Commerce Corp (NASDAQ:HTBK) by 27.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,123 shares of the financial services provider’s stock after selling 3,912 shares during the period. Quantbot Technologies LP’s holdings in Heritage Commerce were worth $95,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in HTBK. Franklin Resources Inc. boosted its stake in Heritage Commerce by 2.9% in the 3rd quarter. Franklin Resources Inc. now owns 46,089 shares of the financial services provider’s stock worth $449,000 after purchasing an additional 1,302 shares during the period. US Bancorp DE lifted its holdings in shares of Heritage Commerce by 64.8% in the fourth quarter. US Bancorp DE now owns 3,473 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 1,365 shares in the last quarter. SG Americas Securities LLC boosted its position in shares of Heritage Commerce by 5.9% in the fourth quarter. SG Americas Securities LLC now owns 45,763 shares of the financial services provider’s stock worth $429,000 after buying an additional 2,558 shares during the period. Aigen Investment Management LP grew its holdings in shares of Heritage Commerce by 21.1% during the fourth quarter. Aigen Investment Management LP now owns 15,866 shares of the financial services provider’s stock valued at $149,000 after buying an additional 2,764 shares in the last quarter. Finally, FMR LLC raised its position in Heritage Commerce by 103.7% during the third quarter. FMR LLC now owns 7,832 shares of the financial services provider’s stock valued at $77,000 after buying an additional 3,987 shares during the period. Institutional investors and hedge funds own 75.55% of the company’s stock.

Insider Activity

In related news, CEO Robertson Clay Jones, Jr. sold 5,145 shares of Heritage Commerce stock in a transaction 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 owns 254,227 shares in the company, valued at $2,473,628.71. This trade represents a 1.98 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jack W. Conner sold 4,000 shares of the company’s stock in a transaction dated 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. This trade represents a 3.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 10,747 shares of company stock valued at $107,728. Insiders own 3.99% of the company’s stock.

Heritage Commerce Price Performance

Shares of HTBK opened at $9.52 on Tuesday. 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 firm has a market cap of $584.94 million, a PE ratio of 14.42 and a beta of 0.92. Heritage Commerce Corp has a twelve month low of $7.66 and a twelve month high of $11.27. The firm’s 50 day moving average price is $9.97 and its 200 day moving average price is $9.93.

Heritage Commerce (NASDAQ:HTBK) last released its quarterly earnings results on Thursday, January 23rd. The financial services provider reported $0.17 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.17. Heritage Commerce had a net margin of 16.12% and a return on equity of 5.96%. As a group, research analysts expect that Heritage Commerce Corp will post 0.8 EPS for the current fiscal year.

Heritage Commerce Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 6th were paid a dividend of $0.13 per share. The ex-dividend date of this dividend was Thursday, February 6th. This represents a $0.52 annualized dividend and a dividend yield of 5.46%. Heritage Commerce’s dividend payout ratio (DPR) is presently 78.79%.

Wall Street Analyst Weigh In

Several analysts recently commented on HTBK shares. StockNews.com upgraded shares of Heritage Commerce from a “sell” rating to a “hold” rating in a report on Wednesday, December 4th. Keefe, Bruyette & Woods dropped their price target on shares of Heritage Commerce from $12.50 to $11.50 and set an “outperform” rating on the stock in a research note on Friday, January 24th. Finally, Stephens raised Heritage Commerce from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 3rd.

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.