State Street Corp Grows Stock Holdings in Heritage Commerce Corp (NASDAQ:HTBK)

State Street Corp lifted its holdings in shares of Heritage Commerce Corp (NASDAQ:HTBK) by 3.2% during the 3rd quarter, Holdings Channel.com reports. The firm owned 1,965,643 shares of the financial services provider’s stock after acquiring an additional 61,630 shares during the period. State Street Corp’s holdings in Heritage Commerce were worth $19,421,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. nVerses Capital LLC purchased a new position in Heritage Commerce during the third quarter worth about $73,000. FMR LLC lifted its holdings 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 during the period. One Wealth Advisors LLC acquired a new stake in shares of Heritage Commerce in the third quarter worth approximately $99,000. NorthCrest Asset Manangement LLC purchased a new stake in Heritage Commerce in the third quarter valued at approximately $100,000. Finally, Point72 Asset Management L.P. acquired a new position in Heritage Commerce during the third quarter worth approximately $107,000. Hedge funds and other institutional investors own 75.55% of the company’s stock.

Heritage Commerce Stock Down 0.7 %

Shares of NASDAQ:HTBK opened at $9.52 on Tuesday. The stock has a 50-day simple moving average of $10.24 and a 200-day simple moving average of $9.71. The stock has a market capitalization of $583.60 million, a P/E ratio of 13.41 and a beta of 0.94. Heritage Commerce Corp has a 1 year low of $7.66 and a 1 year high of $11.27. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.73 and a current ratio of 0.73.

Heritage Commerce (NASDAQ:HTBK) last released its quarterly earnings data on Thursday, October 24th. 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 net margin of 17.61% and a return on equity of 6.37%. The company had revenue of $63.68 million during the quarter, compared to the consensus estimate of $43.14 million. Equities analysts forecast that Heritage Commerce Corp will post 0.66 earnings per share for the current year.

Heritage Commerce Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th were given a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 5.46%. The ex-dividend date of this dividend was Thursday, November 7th. Heritage Commerce’s dividend payout ratio (DPR) is presently 73.24%.

Analysts Set New Price Targets

Separately, StockNews.com upgraded 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.