nVerses Capital LLC Takes Position in Heritage Commerce Corp (NASDAQ:HTBK)

nVerses Capital LLC acquired a new position in shares of Heritage Commerce Corp (NASDAQ:HTBK) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 7,400 shares of the financial services provider’s stock, valued at approximately $73,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in HTBK. One Wealth Advisors LLC acquired a new stake in shares of Heritage Commerce during the third quarter worth about $99,000. Creative Planning increased its stake in Heritage Commerce by 26.2% during the 3rd quarter. Creative Planning now owns 95,262 shares of the financial services provider’s stock worth $941,000 after purchasing an additional 19,800 shares in the last quarter. CWM LLC raised its holdings in Heritage Commerce by 46.3% during the 3rd quarter. CWM LLC now owns 14,536 shares of the financial services provider’s stock worth $144,000 after buying an additional 4,600 shares during the period. SG Americas Securities LLC lifted its stake in Heritage Commerce by 43.2% in the third quarter. SG Americas Securities LLC now owns 43,205 shares of the financial services provider’s stock valued at $427,000 after buying an additional 13,035 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of Heritage Commerce in the second quarter valued at approximately $114,000. 75.55% of the stock is currently owned by institutional investors.

Heritage Commerce Trading Down 3.6 %

Shares of NASDAQ:HTBK opened at $9.47 on Tuesday. The company’s 50-day moving average price is $9.83 and its two-hundred day moving average price is $9.03. Heritage Commerce Corp has a one year low of $7.66 and a one year high of $10.99. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.76 and a quick ratio of 0.76. The stock has a market capitalization of $580.09 million, a PE ratio of 10.29 and a beta of 0.93.

Heritage Commerce (NASDAQ:HTBK) last released its earnings results on Friday, July 26th. The financial services provider reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.04). Heritage Commerce had a return on equity of 7.21% and a net margin of 19.82%. The company had revenue of $61.35 million for the quarter, compared to the consensus estimate of $43.35 million. On average, equities analysts forecast that Heritage Commerce Corp will post 0.65 EPS for the current fiscal year.

Heritage Commerce Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 8th were paid a $0.13 dividend. The ex-dividend date was Thursday, August 8th. This represents a $0.52 annualized dividend and a dividend yield of 5.49%. Heritage Commerce’s dividend payout ratio is presently 56.52%.

Wall Street Analysts Forecast Growth

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

About Heritage Commerce

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.