Stevens Capital Management LP Sells 45 Shares of Heritage Commerce Corp (HTBK)
Stevens Capital Management LP lessened its stake in Heritage Commerce Corp (NASDAQ:HTBK) by 0.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 13,929 shares of the financial services provider’s stock after selling 45 shares during the quarter. Stevens Capital Management LP’s holdings in Heritage Commerce Corp were worth $192,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of HTBK. Teachers Advisors LLC grew its holdings in shares of Heritage Commerce Corp by 25.1% during the 4th quarter. Teachers Advisors LLC now owns 51,628 shares of the financial services provider’s stock worth $745,000 after purchasing an additional 10,362 shares during the period. State Board of Administration of Florida Retirement System acquired a new position in Heritage Commerce Corp in the first quarter valued at about $618,000. American Century Companies Inc. boosted its stake in Heritage Commerce Corp by 17.6% during the first quarter. American Century Companies Inc. now owns 72,790 shares of the financial services provider’s stock worth $1,026,000 after buying an additional 10,882 shares during the period. Oxford Asset Management purchased a new position in Heritage Commerce Corp during the first quarter worth about $212,000. Finally, Stifel Financial Corp boosted its stake 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 buying an additional 5,436 shares during the period. 69.47% of the stock is owned by hedge funds and other institutional investors.
Shares of Heritage Commerce Corp (NASDAQ:HTBK) opened at 14.34 on Tuesday. Heritage Commerce Corp has a 52 week low of $10.23 and a 52 week high of $14.87. The firm has a market capitalization of $546.78 million, a PE ratio of 19.67 and a beta of 0.51. The stock has a 50 day moving average price of $13.60 and a 200 day moving average price of $13.77.
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 Thomson Reuters’ consensus estimate of $0.19. Heritage Commerce Corp had a net margin of 25.75% and a return on equity of 10.61%. The business had revenue of $27.23 million for the quarter, compared to analyst estimates of $27.90 million. Equities analysts forecast that Heritage Commerce Corp will post $0.78 earnings per share for the current fiscal year.
A number of brokerages have weighed in on HTBK. Zacks Investment Research upgraded shares of Heritage Commerce Corp from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a research report on Wednesday, September 27th. BidaskClub cut shares of Heritage Commerce Corp from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 22nd. ValuEngine cut shares of Heritage Commerce Corp from a “buy” rating to a “hold” rating in a research report on Tuesday, August 22nd. Finally, Brean Capital reiterated a “buy” rating on shares of Heritage Commerce Corp in a report on Thursday, August 3rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $15.67.
In other Heritage Commerce Corp news, Director J Philip Dinapoli bought 5,000 shares of the stock in a transaction dated Thursday, August 10th. The stock was bought at an average cost of $13.53 per share, for a total transaction of $67,650.00. Following the completion of the purchase, the director now directly owns 163,376 shares of the company’s stock, valued at $2,210,477.28. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Komas Julianne M. Biagini sold 3,650 shares of Heritage Commerce Corp 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 sale, the director now directly owns 25,696 shares in the company, valued at $350,750.40. The disclosure for this sale can be found here. Insiders own 5.69% of the company’s stock.
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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