California State Teachers Retirement System Boosts Stake in Heritage Commerce Corp. (HTBK)
California State Teachers Retirement System raised its position in Heritage Commerce Corp. (NASDAQ:HTBK) by 6.2% during the second quarter, Holdings Channel reports. The fund owned 54,701 shares of the financial services provider’s stock after buying an additional 3,202 shares during the period. California State Teachers Retirement System owned 0.17% of Heritage Commerce Corp. worth $576,000 at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. Spark Investment Management LLC boosted its position in shares of Heritage Commerce Corp. by 30.0% in the first quarter. Spark Investment Management LLC now owns 41,500 shares of the financial services provider’s stock worth $415,000 after buying an additional 9,580 shares during the last quarter. State Street Corp raised its position in Heritage Commerce Corp. by 2.2% in the first quarter. State Street Corp now owns 328,865 shares of the financial services provider’s stock worth $3,293,000 after buying an additional 6,932 shares in the last quarter. Consector Capital LP purchased a new position in Heritage Commerce Corp. during the first quarter worth $512,000. Geode Capital Management LLC raised its position in Heritage Commerce Corp. by 3.7% in the first quarter. Geode Capital Management LLC now owns 148,458 shares of the financial services provider’s stock worth $1,486,000 after buying an additional 5,298 shares in the last quarter. Finally, Bank of Montreal Can purchased a new position in Heritage Commerce Corp. during the second quarter worth $130,000. Institutional investors own 52.13% of the company’s stock.
Heritage Commerce Corp. (NASDAQ:HTBK) traded down 1.19% during trading on Friday, hitting $10.81. 22,109 shares of the stock were exchanged. The firm has a market cap of $349.11 million, a PE ratio of 19.07 and a beta of 0.91. The stock’s 50-day moving average price is $11.34 and its 200-day moving average price is $10.70. Heritage Commerce Corp. has a 12-month low of $8.84 and a 12-month high of $12.38.
Heritage Commerce Corp. (NASDAQ:HTBK) last announced its earnings results on Friday, July 29th. The financial services provider reported $0.19 earnings per share (EPS) for the quarter. Heritage Commerce Corp. had a net margin of 21.08% and a return on equity of 9.21%. On average, equities analysts expect that Heritage Commerce Corp. will post $0.74 EPS for the current year.
Separately, Zacks Investment Research lowered shares of Heritage Commerce Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, July 5th.
In related news, Director J Philip Dinapoli bought 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 2nd. The stock was purchased at an average price of $10.43 per share, for a total transaction of $52,150.00. Following the transaction, the director now directly owns 496,125 shares of the company’s stock, valued at approximately $5,174,583.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director W Kirk Wycoff sold 6,968 shares of the stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $11.50, for a total transaction of $80,132.00. The disclosure for this sale can be found here. 19.72% of the stock is currently owned by corporate insiders.
About Heritage Commerce Corp.
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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