Dean Capital Management purchased a new position in shares of Heritage Commerce Corp (NASDAQ:HTBK) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 73,961 shares of the financial services provider’s stock, valued at approximately $1,019,000. Dean Capital Management owned approximately 0.19% of Heritage Commerce Corp at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of HTBK. State Board of Administration of Florida Retirement System bought a new stake in Heritage Commerce Corp during the first quarter worth $618,000. Oxford Asset Management bought a new stake in Heritage Commerce Corp during the first quarter worth $212,000. Stifel Financial Corp raised its position in Heritage Commerce Corp by 20.6% during the first quarter. Stifel Financial Corp now owns 31,871 shares of the financial services provider’s stock worth $447,000 after acquiring an additional 5,436 shares in the last quarter. SG Americas Securities LLC bought a new stake in Heritage Commerce Corp during the first quarter worth $264,000. Finally, American International Group Inc. raised its position in Heritage Commerce Corp by 6.9% during the first quarter. American International Group Inc. now owns 16,039 shares of the financial services provider’s stock worth $226,000 after acquiring an additional 1,038 shares in the last quarter. 69.47% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts have issued reports on HTBK shares. Brean Capital set a $16.00 price target on shares of Heritage Commerce Corp and gave the stock a “buy” rating in a research report on Friday, July 28th. ValuEngine raised shares of Heritage Commerce Corp from a “hold” rating to a “buy” rating in a research report on Tuesday, July 11th. Zacks Investment Research raised shares of Heritage Commerce Corp from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a research report on Wednesday, September 27th. Finally, BidaskClub lowered shares of Heritage Commerce Corp from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. Heritage Commerce Corp currently has an average rating of “Hold” and an average price target of $15.67.
In other Heritage Commerce Corp news, Director J Philip Dinapoli acquired 5,000 shares of the business’s stock in a transaction dated Thursday, August 10th. The stock was bought at an average price of $13.53 per share, with a total value of $67,650.00. Following the completion of the acquisition, the director now owns 163,376 shares of the company’s stock, valued at $2,210,477.28. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Komas Julianne M. Biagini sold 3,650 shares of the business’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $13.65, for a total value of $49,822.50. Following the transaction, the director now directly owns 25,696 shares of the company’s stock, valued at approximately $350,750.40. The disclosure for this sale can be found here. 5.69% of the stock is owned by insiders.
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Heritage Commerce Corp (NASDAQ HTBK) traded up 0.95% during trading on Friday, hitting $14.80. 18,110 shares of the company traded hands. Heritage Commerce Corp has a 12-month low of $10.23 and a 12-month high of $14.87. The stock has a 50 day moving average price of $13.84 and a 200 day moving average price of $13.82. The company has a market capitalization of $564.32 million, a P/E ratio of 20.30 and a beta of 0.51.
Heritage Commerce Corp (NASDAQ:HTBK) last posted its earnings results on Thursday, July 27th. The financial services provider reported $0.19 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.19. The business had revenue of $27.23 million during the quarter, compared to analyst estimates of $27.90 million. Heritage Commerce Corp had a return on equity of 10.61% and a net margin of 25.75%. On average, equities analysts anticipate that Heritage Commerce Corp will post $0.78 earnings per share for the current year.
Heritage Commerce Corp Company Profile
Heritage Commerce Corp is a bank holding company. The Company, through its subsidiary Heritage Bank of Commerce (the Bank), provides a range of banking services. The Bank is a California state-chartered multi-community independent bank that offers a range of commercial banking services to small and medium-sized businesses and their owners, managers and employees.
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