Cerity Partners LLC Boosts Stake in Heritage Commerce Corp (NASDAQ:HTBK)

Cerity Partners LLC grew its holdings in shares of Heritage Commerce Corp (NASDAQ:HTBK) by 17.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 146,349 shares of the financial services provider’s stock after purchasing an additional 21,288 shares during the quarter. Cerity Partners LLC owned approximately 0.24% of Heritage Commerce worth $1,446,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. raised its position in Heritage Commerce by 3.9% in 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. Price T Rowe Associates Inc. MD raised its stake in Heritage Commerce by 14.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 16,966 shares of the financial services provider’s stock valued at $146,000 after buying an additional 2,159 shares in the last quarter. CWM LLC boosted its holdings in shares of Heritage Commerce by 148.0% in the 2nd quarter. CWM LLC now owns 9,936 shares of the financial services provider’s stock valued at $86,000 after buying an additional 5,929 shares in the last quarter. Diversified Trust Co boosted its stake in Heritage Commerce by 13.7% in the second quarter. Diversified Trust Co now owns 18,752 shares of the financial services provider’s stock valued at $163,000 after acquiring an additional 2,262 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its position in 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 worth $8,912,000 after buying an additional 914,249 shares during the period. 75.55% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Heritage Commerce from a “sell” rating to a “hold” rating in a report on Wednesday.

Heritage Commerce Stock Performance

Shares of NASDAQ HTBK opened at $10.47 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 50-day simple moving average of $10.08 and a 200-day simple moving average of $9.50. 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 company has a market cap of $641.81 million, a PE ratio of 14.75 and a beta of 0.94.

Heritage Commerce (NASDAQ:HTBK) last issued its earnings results on Thursday, October 24th. The financial services provider reported $0.17 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.17. Heritage Commerce had a return on equity of 6.37% and a net margin of 17.61%. The firm had revenue of $63.68 million for the quarter, compared to analysts’ expectations of $43.14 million. On average, equities analysts anticipate that Heritage Commerce Corp will post 0.66 earnings per share for the current year.

Heritage Commerce Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th were paid a dividend of $0.13 per share. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $0.52 dividend on an annualized basis and a yield of 4.97%. Heritage Commerce’s dividend payout ratio (DPR) is presently 73.24%.

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.