Boston Partners Raises Holdings in Heritage Commerce Corp (NASDAQ:HTBK)

Boston Partners increased its position in Heritage Commerce Corp (NASDAQ:HTBK) by 1.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,564,741 shares of the financial services provider’s stock after buying an additional 26,442 shares during the period. Boston Partners owned 2.55% of Heritage Commerce worth $14,620,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wellington Management Group LLP bought a new stake in Heritage Commerce in the 3rd quarter worth approximately $20,093,000. Raymond James Financial Inc. bought a new stake in Heritage Commerce in the fourth quarter worth $2,181,000. Assenagon Asset Management S.A. raised its stake in Heritage Commerce by 58.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 463,774 shares of the financial services provider’s stock valued at $4,350,000 after purchasing an additional 170,989 shares in the last quarter. State Street Corp lifted its position in Heritage Commerce by 3.2% during the third quarter. State Street Corp now owns 1,965,643 shares of the financial services provider’s stock valued at $19,421,000 after purchasing an additional 61,630 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D grew its stake in shares of Heritage Commerce by 16.9% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 310,915 shares of the financial services provider’s stock worth $2,916,000 after buying an additional 45,010 shares in the last quarter. 75.55% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Jack W. Conner sold 4,000 shares of the firm’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $10.52, for a total transaction of $42,080.00. Following the transaction, the director now owns 108,512 shares in the company, valued at approximately $1,141,546.24. This trade represents a 3.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Robertson Clay Jones, Jr. sold 5,145 shares of Heritage Commerce stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $9.73, for a total value of $50,060.85. Following the completion of the sale, the chief executive officer now owns 254,227 shares of the company’s stock, valued at $2,473,628.71. The trade was a 1.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 10,747 shares of company stock valued at $107,728 in the last 90 days. Company insiders own 3.99% of the company’s stock.

Heritage Commerce Stock Performance

Heritage Commerce stock opened at $9.57 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.73 and a quick ratio of 0.73. The firm has a market capitalization of $588.01 million, a P/E ratio of 14.50 and a beta of 0.92. Heritage Commerce Corp has a 1-year low of $7.66 and a 1-year high of $11.27. The company’s 50-day moving average is $9.89 and its 200 day moving average is $9.94.

Heritage Commerce (NASDAQ:HTBK) last issued its quarterly earnings results on Thursday, January 23rd. The financial services provider reported $0.17 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.17. Heritage Commerce had a return on equity of 5.96% and a net margin of 16.12%. Research analysts forecast that Heritage Commerce Corp will post 0.8 EPS for the current 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 issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 5.43%. The ex-dividend date was Thursday, February 6th. Heritage Commerce’s payout ratio is presently 78.79%.

Wall Street Analysts Forecast Growth

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

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.