Heritage Commerce Corp (NASDAQ:HTBK) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. reduced its stake in shares of Heritage Commerce Corp (NASDAQ:HTBK) by 1.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 112,800 shares of the financial services provider’s stock after selling 1,200 shares during the quarter. Victory Capital Management Inc. owned 0.18% of Heritage Commerce worth $1,114,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of HTBK. Vanguard Group Inc. raised its stake in shares of 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 during the period. Assenagon Asset Management S.A. increased its stake in Heritage Commerce by 830.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,024,377 shares of the financial services provider’s stock worth $8,912,000 after buying an additional 914,249 shares during the period. American Century Companies Inc. lifted its holdings in Heritage Commerce by 21.2% in the 2nd quarter. American Century Companies Inc. now owns 921,389 shares of the financial services provider’s stock worth $8,016,000 after buying an additional 160,977 shares in the last quarter. AlTi Global Inc. boosted its position in Heritage Commerce by 1.1% in the 2nd quarter. AlTi Global Inc. now owns 648,286 shares of the financial services provider’s stock valued at $5,640,000 after buying an additional 6,747 shares during the last quarter. Finally, AQR Capital Management LLC grew its stake in shares of Heritage Commerce by 32.5% during the second quarter. AQR Capital Management LLC now owns 544,471 shares of the financial services provider’s stock valued at $4,737,000 after acquiring an additional 133,514 shares in the last quarter. 75.55% of the stock is owned by institutional investors and hedge funds.

Heritage Commerce Trading Down 1.7 %

HTBK opened at $10.73 on Wednesday. Heritage Commerce Corp has a 12-month low of $7.66 and a 12-month high of $11.27. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.73 and a quick ratio of 0.73. The stock has a market capitalization of $657.78 million, a PE ratio of 15.23 and a beta of 0.93. The firm’s fifty day moving average price is $10.03 and its 200 day moving average price is $9.42.

Heritage Commerce (NASDAQ:HTBK) last released its earnings results on Thursday, October 24th. The financial services provider reported $0.17 earnings per share for the quarter, hitting the consensus estimate of $0.17. Heritage Commerce had a net margin of 17.61% and a return on equity of 6.37%. The company had revenue of $63.68 million during the quarter, compared to the consensus estimate of $43.14 million. As a group, research analysts expect that Heritage Commerce Corp will post 0.66 EPS for the current fiscal year.

Heritage Commerce Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 4.85%. The ex-dividend date of this dividend was Thursday, November 7th. Heritage Commerce’s dividend payout ratio is presently 73.24%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut Heritage Commerce from a “hold” rating to a “sell” rating in a research note on Tuesday.

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.