American Century Companies Inc. Purchases 160,977 Shares of Heritage Commerce Corp (NASDAQ:HTBK)

American Century Companies Inc. boosted its holdings in shares of Heritage Commerce Corp (NASDAQ:HTBK) by 21.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 921,389 shares of the financial services provider’s stock after acquiring an additional 160,977 shares during the period. American Century Companies Inc. owned about 1.50% of Heritage Commerce worth $8,016,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Assenagon Asset Management S.A. boosted its stake in shares of Heritage Commerce by 830.2% during the second quarter. Assenagon Asset Management S.A. now owns 1,024,377 shares of the financial services provider’s stock valued at $8,912,000 after purchasing an additional 914,249 shares in the last quarter. Banc Funds Co. LLC lifted its stake in shares of Heritage Commerce by 8.2% during the 4th quarter. Banc Funds Co. LLC now owns 683,598 shares of the financial services provider’s stock worth $6,781,000 after purchasing an additional 51,515 shares during the last quarter. Vanguard Group Inc. boosted its position in Heritage Commerce by 3.9% during the first quarter. Vanguard Group Inc. now owns 3,309,141 shares of the financial services provider’s stock valued at $28,392,000 after purchasing an additional 123,973 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Heritage Commerce by 185.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 4,856 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 3,155 shares in the last quarter. Finally, Empowered Funds LLC lifted its position in shares of Heritage Commerce by 8.1% during the first quarter. Empowered Funds LLC now owns 132,835 shares of the financial services provider’s stock valued at $1,140,000 after buying an additional 9,975 shares during the last quarter. Hedge funds and other institutional investors own 75.55% of the company’s stock.

Heritage Commerce Trading Up 0.5 %

Shares of Heritage Commerce stock opened at $10.18 on Tuesday. The firm’s 50 day simple moving average is $9.97 and its two-hundred day simple moving average is $8.85. The firm has a market capitalization of $623.59 million, a price-to-earnings ratio of 11.07 and a beta of 0.93. Heritage Commerce Corp has a 12-month low of $7.66 and a 12-month high of $10.99. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.06.

Heritage Commerce (NASDAQ:HTBK) last issued its earnings results on Friday, July 26th. The financial services provider reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.04). The firm had revenue of $61.35 million during the quarter, compared to analysts’ expectations of $43.35 million. Heritage Commerce had a return on equity of 7.21% and a net margin of 19.82%. Analysts predict that Heritage Commerce Corp will post 0.66 EPS for the current year.

Heritage Commerce Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 8th were given a $0.13 dividend. The ex-dividend date of this dividend was Thursday, August 8th. This represents a $0.52 dividend on an annualized basis and a yield of 5.11%. Heritage Commerce’s dividend payout ratio is currently 56.52%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. StockNews.com lowered shares of Heritage Commerce from a “hold” rating to a “sell” rating in a research note on Wednesday, July 10th. Keefe, Bruyette & Woods raised their price objective on Heritage Commerce from $10.50 to $11.50 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Finally, Piper Sandler upped their target price on Heritage Commerce from $10.00 to $12.00 and gave the company an “overweight” rating in a research report on Friday, July 26th.

Heritage Commerce Company 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.