Barclays PLC Increases Stake in Heritage Commerce Corp (NASDAQ:HTBK)

Barclays PLC increased its holdings in Heritage Commerce Corp (NASDAQ:HTBK) by 7.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 216,439 shares of the financial services provider’s stock after acquiring an additional 14,466 shares during the quarter. Barclays PLC owned approximately 0.35% of Heritage Commerce worth $2,139,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its position in shares of Heritage Commerce by 2.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 501,917 shares of the financial services provider’s stock worth $4,367,000 after acquiring an additional 13,744 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Heritage Commerce by 20.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,077 shares of the financial services provider’s stock worth $192,000 after purchasing an additional 3,696 shares in the last quarter. Natixis Advisors LLC purchased a new stake in shares of Heritage Commerce during the second quarter valued at about $236,000. Rhumbline Advisers boosted its holdings in shares of Heritage Commerce by 1.1% in the 2nd quarter. Rhumbline Advisers now owns 96,458 shares of the financial services provider’s stock valued at $839,000 after buying an additional 1,078 shares in the last quarter. Finally, Princeton Capital Management LLC purchased a new position in shares of Heritage Commerce in the 2nd quarter worth approximately $131,000. 75.55% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Heritage Commerce Stock Performance

HTBK opened at $9.55 on Friday. The firm’s 50-day moving average price is $10.22 and its 200-day moving average price is $9.72. The company has a market cap of $585.44 million, a P/E ratio of 13.45 and a beta of 0.94. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.06. Heritage Commerce Corp has a 52-week low of $7.66 and a 52-week high of $11.27.

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

Heritage Commerce Dividend Announcement

The company also recently declared 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 was Thursday, November 7th. This represents a $0.52 annualized dividend and a yield of 5.45%. Heritage Commerce’s payout ratio is presently 73.24%.

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.