Heritage Commerce Corp $HTBK Holdings Cut by UBS Group AG

UBS Group AG decreased its stake in Heritage Commerce Corp (NASDAQ:HTBK) by 13.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 298,038 shares of the financial services provider’s stock after selling 47,587 shares during the quarter. UBS Group AG owned approximately 0.49% of Heritage Commerce worth $3,579,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Merit Financial Group LLC purchased a new stake in Heritage Commerce in the 4th quarter worth approximately $149,000. CWM LLC lifted its position in Heritage Commerce by 18.3% in the 4th quarter. CWM LLC now owns 54,109 shares of the financial services provider’s stock worth $650,000 after buying an additional 8,377 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in Heritage Commerce in the 4th quarter worth approximately $5,010,000. Diversified Trust Co. lifted its position in Heritage Commerce by 14.1% in the 4th quarter. Diversified Trust Co. now owns 23,361 shares of the financial services provider’s stock worth $281,000 after buying an additional 2,892 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its position in Heritage Commerce by 14.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 28,694 shares of the financial services provider’s stock worth $358,000 after buying an additional 3,564 shares in the last quarter. Hedge funds and other institutional investors own 75.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Zacks Research downgraded shares of Heritage Commerce from a “strong-buy” rating to a “hold” rating in a research report on Thursday, April 9th. Weiss Ratings upgraded shares of Heritage Commerce from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 9th. Finally, DA Davidson reiterated a “neutral” rating and issued a $14.50 target price on shares of Heritage Commerce in a research report on Wednesday, February 4th. Two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $13.13.

Heritage Commerce Stock Performance

Shares of HTBK opened at $13.45 on Friday. The company has a market capitalization of $828.43 million, a PE ratio of 17.24 and a beta of 0.69. Heritage Commerce Corp has a one year low of $8.73 and a one year high of $13.83. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.74 and a quick ratio of 0.74. The company’s fifty day moving average price is $13.02 and its 200 day moving average price is $12.45.

Heritage Commerce Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 8th. Investors of record on Wednesday, March 25th were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 3.9%. The ex-dividend date was Wednesday, March 25th. Heritage Commerce’s dividend payout ratio (DPR) is 66.67%.

Heritage Commerce Profile

Heritage Commerce Corporation, headquartered in Farmington Hills, Michigan, is the bank holding company for Heritage Bank, N.A., a community-oriented financial institution. Traded on NASDAQ under the symbol HTBK, the company focuses on delivering tailored banking services to businesses, professionals and individuals throughout Southeastern Michigan.

Heritage Bank, N.A. offers a comprehensive portfolio of deposit and lending products designed to meet the needs of commercial and consumer clients.