California State Teachers Retirement System Has $898,000 Stake in Heritage Commerce Corp (NASDAQ:HTBK)

California State Teachers Retirement System decreased its position in shares of Heritage Commerce Corp (NASDAQ:HTBK) by 8.0% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 80,680 shares of the financial services provider’s stock after selling 7,012 shares during the period. California State Teachers Retirement System’s holdings in Heritage Commerce were worth $898,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of HTBK. Nisa Investment Advisors LLC increased its holdings in shares of Heritage Commerce by 17.5% in the second quarter. Nisa Investment Advisors LLC now owns 11,870 shares of the financial services provider’s stock valued at $132,000 after purchasing an additional 1,770 shares in the last quarter. First Trust Advisors LP increased its holdings in shares of Heritage Commerce by 6.9% in the second quarter. First Trust Advisors LP now owns 31,168 shares of the financial services provider’s stock valued at $347,000 after purchasing an additional 2,012 shares in the last quarter. Royal Bank of Canada increased its holdings in shares of Heritage Commerce by 17.2% in the first quarter. Royal Bank of Canada now owns 13,818 shares of the financial services provider’s stock valued at $169,000 after purchasing an additional 2,031 shares in the last quarter. Tiedemann Advisors LLC increased its holdings in shares of Heritage Commerce by 0.5% in the second quarter. Tiedemann Advisors LLC now owns 619,348 shares of the financial services provider’s stock valued at $6,893,000 after purchasing an additional 3,086 shares in the last quarter. Finally, Marshall Wace North America L.P. acquired a new stake in shares of Heritage Commerce in the first quarter valued at approximately $56,000. 70.89% of the stock is owned by institutional investors.

In other Heritage Commerce news, Director Jason Philip Dinapoli purchased 5,000 shares of the stock in a transaction on Thursday, November 11th. The stock was bought at an average cost of $12.14 per share, for a total transaction of $60,700.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Stephen G. Heitel sold 27,350 shares of the stock in a transaction dated Monday, November 8th. The stock was sold at an average price of $12.15, for a total value of $332,302.50. The disclosure for this sale can be found here. Corporate insiders own 4.43% of the company’s stock.

Separately, Zacks Investment Research lowered shares of Heritage Commerce from a “buy” rating to a “hold” rating in a report on Wednesday, November 3rd.

HTBK opened at $11.79 on Thursday. The company has a fifty day moving average price of $11.77 and a two-hundred day moving average price of $11.51. The firm has a market capitalization of $710.58 million, a PE ratio of 15.51 and a beta of 1.18. Heritage Commerce Corp has a 52 week low of $8.40 and a 52 week high of $12.65. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.60 and a current ratio of 0.60.

Heritage Commerce (NASDAQ:HTBK) last announced its quarterly earnings data on Thursday, October 28th. The financial services provider reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.02. The business had revenue of $40.59 million during the quarter, compared to analysts’ expectations of $39.58 million. Heritage Commerce had a return on equity of 7.81% and a net margin of 28.64%. Equities analysts forecast that Heritage Commerce Corp will post 0.79 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 23rd. Shareholders of record on Tuesday, November 9th were paid a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 4.41%. The ex-dividend date of this dividend was Monday, November 8th. Heritage Commerce’s payout ratio is 68.42%.

Heritage Commerce Profile

Heritage Commerce Corp. is a holding company, which engages in the provision of banking. It operates through the following Banking and Factoring segments. The Banking segment includes holding company’s results of operations. The Factoring segment focuses on factoring originated by bay view funding. The company was founded in 1997 and is headquartered in San Jose, CA.

Further Reading: Cash Flow Analysis in Stock Selection

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Institutional Ownership by Quarter for Heritage Commerce (NASDAQ:HTBK)

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