Geode Capital Management LLC Purchases 2,582 Shares of Heritage Commerce Corp (NASDAQ:HTBK)

Geode Capital Management LLC increased its position in shares of Heritage Commerce Corp (NASDAQ:HTBK) by 0.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,422,060 shares of the financial services provider’s stock after buying an additional 2,582 shares during the period. Geode Capital Management LLC owned 2.32% of Heritage Commerce worth $14,052,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. nVerses Capital LLC bought a new position in Heritage Commerce during the third quarter worth $73,000. FMR LLC grew its holdings in Heritage Commerce by 103.7% in the third quarter. FMR LLC now owns 7,832 shares of the financial services provider’s stock worth $77,000 after purchasing an additional 3,987 shares during the period. One Wealth Advisors LLC acquired a new stake in Heritage Commerce in the third quarter worth $99,000. NorthCrest Asset Manangement LLC acquired a new stake in Heritage Commerce in the third quarter worth $100,000. Finally, Point72 Asset Management L.P. acquired a new stake in Heritage Commerce in the third quarter worth $107,000. Institutional investors own 75.55% of the company’s stock.

Wall Street Analyst Weigh In

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

Heritage Commerce Stock Down 0.6 %

Shares of NASDAQ HTBK opened at $9.37 on Tuesday. The stock has a market capitalization of $574.41 million, a P/E ratio of 13.20 and a beta of 0.94. The company has a 50-day moving average price of $10.21 and a 200-day moving average price of $9.76. Heritage Commerce Corp has a 1 year low of $7.66 and a 1 year 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.

Heritage Commerce (NASDAQ:HTBK) last issued its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.17 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.17. The firm 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%. On average, equities research analysts forecast that Heritage Commerce Corp will post 0.66 EPS for the current fiscal year.

Heritage Commerce Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Stockholders 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 dividend yield of 5.55%. The ex-dividend date was Thursday, November 7th. Heritage Commerce’s dividend payout ratio is currently 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.