Heritage Commerce Corp (NASDAQ:HTBK) Shares Purchased by Wellington Management Group LLP

Wellington Management Group LLP raised its position in Heritage Commerce Corp (NASDAQ:HTBK) by 6.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 508,796 shares of the financial services provider’s stock after purchasing an additional 29,291 shares during the quarter. Wellington Management Group LLP owned about 0.83% of Heritage Commerce worth $5,047,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its position in Heritage Commerce by 2.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 463,745 shares of the financial services provider’s stock valued at $3,928,000 after acquiring an additional 12,343 shares during the period. Federated Hermes Inc. raised its stake in shares of Heritage Commerce by 5.5% during the third quarter. Federated Hermes Inc. now owns 81,122 shares of the financial services provider’s stock valued at $687,000 after purchasing an additional 4,220 shares in the last quarter. Alps Advisors Inc. acquired a new stake in Heritage Commerce in the third quarter worth about $334,000. Endeavour Capital Advisors Inc. grew its position in Heritage Commerce by 3.0% in the 3rd quarter. Endeavour Capital Advisors Inc. now owns 562,516 shares of the financial services provider’s stock valued at $4,765,000 after buying an additional 16,416 shares in the last quarter. Finally, Lido Advisors LLC increased its stake in Heritage Commerce by 87.6% during the 3rd quarter. Lido Advisors LLC now owns 119,593 shares of the financial services provider’s stock valued at $1,013,000 after buying an additional 55,855 shares during the period. Institutional investors own 75.55% of the company’s stock.

Heritage Commerce Trading Up 6.0 %

Heritage Commerce stock opened at $8.70 on Friday. The firm has a market cap of $532.93 million, a price-to-earnings ratio of 9.46 and a beta of 0.92. Heritage Commerce Corp has a 1 year low of $7.66 and a 1 year high of $10.22. The firm’s 50 day moving average price is $8.15 and its two-hundred day moving average price is $8.57. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.75 and a current ratio of 0.75.

Heritage Commerce (NASDAQ:HTBK) last announced its earnings results on Friday, April 26th. The financial services provider reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.02). Heritage Commerce had a return on equity of 8.36% and a net margin of 22.84%. The company had revenue of $59.60 million for the quarter, compared to analyst estimates of $43.83 million. On average, research analysts predict that Heritage Commerce Corp will post 0.73 EPS for the current fiscal year.

Heritage Commerce Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 23rd. Stockholders of record on Thursday, May 9th were given a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 5.98%. The ex-dividend date of this dividend was Wednesday, May 8th. Heritage Commerce’s dividend payout ratio (DPR) is currently 56.52%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Piper Sandler decreased their price objective on shares of Heritage Commerce from $11.00 to $10.00 and set an “overweight” rating for the company in a report on Friday, April 26th. StockNews.com upgraded Heritage Commerce from a “sell” rating to a “hold” rating in a research report on Monday, May 27th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Heritage Commerce presently has an average rating of “Moderate Buy” and a consensus price target of $10.50.

Heritage Commerce Profile

Heritage Commerce Corp operates as the bank holding company for Heritage Bank of Commerce that provides various commercial and personal banking services to residents and the business/professional community in California. Its deposit products for business banking and retail markets include interest and non-interest-bearing demand, savings, and money market accounts, as well as certificates of deposit and time deposits.