State Street Corp Has $7.69 Million Holdings in Heritage Commerce Corp (HTBK)
State Street Corp boosted its holdings in shares of Heritage Commerce Corp (NASDAQ:HTBK) by 36.1% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 558,166 shares of the financial services provider’s stock after purchasing an additional 148,073 shares during the quarter. State Street Corp owned approximately 1.46% of Heritage Commerce worth $7,693,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of HTBK. Goldman Sachs Group Inc. raised its stake in shares of Heritage Commerce by 1.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 16,613 shares of the financial services provider’s stock valued at $234,000 after purchasing an additional 278 shares during the period. Legal & General Group Plc boosted its position in Heritage Commerce by 20.4% during the second quarter. Legal & General Group Plc now owns 7,903 shares of the financial services provider’s stock valued at $109,000 after acquiring an additional 1,339 shares during the last quarter. Bank of America Corp DE raised its holdings in shares of Heritage Commerce by 11.1% in the 1st quarter. Bank of America Corp DE now owns 19,692 shares of the financial services provider’s stock worth $277,000 after acquiring an additional 1,974 shares during the last quarter. John W. Rosenthal Capital Management Inc. raised its holdings in shares of Heritage Commerce by 3.0% in the 2nd quarter. John W. Rosenthal Capital Management Inc. now owns 160,100 shares of the financial services provider’s stock worth $2,206,000 after acquiring an additional 4,700 shares during the last quarter. Finally, TD Asset Management Inc. raised its holdings in shares of Heritage Commerce by 12.2% in the 2nd quarter. TD Asset Management Inc. now owns 44,169 shares of the financial services provider’s stock worth $609,000 after acquiring an additional 4,816 shares during the last quarter. Institutional investors own 69.81% of the company’s stock.
Heritage Commerce Corp (NASDAQ:HTBK) opened at $16.23 on Friday. Heritage Commerce Corp has a 12-month low of $12.20 and a 12-month high of $16.41. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.76 and a current ratio of 0.77. The firm has a market cap of $601.65, a price-to-earnings ratio of 20.45, a P/E/G ratio of 1.96 and a beta of 0.49.
Heritage Commerce (NASDAQ:HTBK) last posted its earnings results on Thursday, October 26th. The financial services provider reported $0.22 EPS for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $28.70 million. analysts expect that Heritage Commerce Corp will post 0.8 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, November 21st. Investors of record on Tuesday, November 7th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date of this dividend was Monday, November 6th. Heritage Commerce’s dividend payout ratio (DPR) is presently 51.95%.
A number of analysts have recently issued reports on the stock. Zacks Investment Research raised shares of Heritage Commerce from a “hold” rating to a “buy” rating and set a $17.00 price objective for the company in a report on Tuesday, October 31st. Brean Capital reissued a “buy” rating on shares of Heritage Commerce in a research note on Thursday, August 3rd. ValuEngine cut shares of Heritage Commerce from a “buy” rating to a “hold” rating in a research note on Tuesday, August 22nd. Finally, BidaskClub cut shares of Heritage Commerce from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 22nd. 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. The company presently has an average rating of “Hold” and an average price target of $16.00.
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Heritage Commerce 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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