Dimensional Fund Advisors LP raised its position in shares of Heritage Commerce Corp. (NASDAQ:HTBK) by 5.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,652,384 shares of the financial services provider’s stock after purchasing an additional 82,543 shares during the quarter. Dimensional Fund Advisors LP owned 4.33% of Heritage Commerce worth $23,513,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in HTBK. Legal & General Group Plc raised its stake in Heritage Commerce by 20.4% during the 2nd quarter. Legal & General Group Plc now owns 7,903 shares of the financial services provider’s stock valued at $109,000 after purchasing an additional 1,339 shares during the period. Trexquant Investment LP acquired a new stake in Heritage Commerce during the 3rd quarter valued at $146,000. Principal Financial Group Inc. purchased a new position in shares of Heritage Commerce during the 2nd quarter valued at $175,000. Voya Investment Management LLC purchased a new position in shares of Heritage Commerce during the 2nd quarter valued at $189,000. Finally, Dynamic Technology Lab Private Ltd grew its holdings in shares of Heritage Commerce by 27.8% during the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 17,737 shares of the financial services provider’s stock valued at $245,000 after acquiring an additional 3,856 shares in the last quarter. 69.98% of the stock is currently owned by institutional investors.
Several research firms have recently commented on HTBK. BidaskClub upgraded shares of Heritage Commerce from a “sell” rating to a “hold” rating in a report on Thursday, January 11th. Zacks Investment Research upgraded shares of Heritage Commerce from a “hold” rating to a “buy” rating and set a $17.00 price target on the stock in a report on Tuesday, October 31st. ValuEngine cut shares of Heritage Commerce from a “buy” rating to a “hold” rating in a report on Saturday, December 9th. Finally, Brean Capital set a $18.00 price target on shares of Heritage Commerce and gave the company a “buy” rating in a report on Friday, December 22nd. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $16.67.
Heritage Commerce Corp. (HTBK) opened at $16.57 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.76 and a current ratio of 0.77. Heritage Commerce Corp. has a fifty-two week low of $12.76 and a fifty-two week high of $16.80. The company has a market cap of $629.55, a price-to-earnings ratio of 21.52, a PEG ratio of 1.80 and a beta of 0.51.
Heritage Commerce (NASDAQ:HTBK) last posted its quarterly earnings results on Thursday, October 26th. The financial services provider reported $0.22 EPS for the quarter, beating the consensus estimate of $0.21 by $0.01. Heritage Commerce had a net margin of 26.40% and a return on equity of 11.15%. The business had revenue of $28.78 million for the quarter, compared to analysts’ expectations of $28.70 million. sell-side analysts predict that Heritage Commerce Corp. will post 0.81 earnings per share for the current year.
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About Heritage Commerce
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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