Charles Schwab Investment Management Inc. Acquires 6,884 Shares of Heritage Commerce Corp (NASDAQ:HTBK)

Charles Schwab Investment Management Inc. lifted its position in shares of Heritage Commerce Corp (NASDAQ:HTBK) by 1.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 496,190 shares of the financial services provider’s stock after acquiring an additional 6,884 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.81% of Heritage Commerce worth $4,902,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of HTBK. nVerses Capital LLC acquired a new position in shares of Heritage Commerce in the 3rd quarter valued at about $73,000. CWM LLC grew its holdings in shares of Heritage Commerce by 148.0% in the second quarter. CWM LLC now owns 9,936 shares of the financial services provider’s stock valued at $86,000 after acquiring an additional 5,929 shares in the last quarter. One Wealth Advisors LLC bought a new position in shares of Heritage Commerce in the third quarter valued at approximately $99,000. NorthCrest Asset Manangement LLC bought a new position in Heritage Commerce during the third quarter valued at $100,000. Finally, Susquehanna Fundamental Investments LLC bought a new position in Heritage Commerce during the second quarter valued at $114,000. Institutional investors and hedge funds own 75.55% of the company’s stock.

Heritage Commerce Trading Up 0.7 %

NASDAQ HTBK opened at $10.43 on Friday. The stock’s 50-day simple moving average is $10.22 and its two-hundred day simple moving average is $9.62. Heritage Commerce Corp has a twelve month low of $7.66 and a twelve month high of $11.27. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $639.36 million, a price-to-earnings ratio of 14.69 and a beta of 0.94.

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

Heritage Commerce Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 7th were paid a $0.13 dividend. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $0.52 annualized dividend and a dividend yield of 4.99%. Heritage Commerce’s payout ratio is presently 73.24%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Heritage Commerce from a “sell” rating to a “hold” rating in a report on Wednesday, December 4th.

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.