JPMorgan Chase & Co. Lowers Holdings in Heritage Commerce Corp (NASDAQ:HTBK)

JPMorgan Chase & Co. lowered 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 disclosure with the Securities and Exchange Commission. The firm owned 2,313,035 shares of the financial services provider’s stock after selling 32,023 shares during the period. JPMorgan Chase & Co. owned about 3.77% of Heritage Commerce worth $22,853,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in HTBK. nVerses Capital LLC purchased a new position in shares of Heritage Commerce in the 3rd quarter valued at $73,000. FMR LLC grew its stake in Heritage Commerce by 103.7% in the third quarter. FMR LLC now owns 7,832 shares of the financial services provider’s stock valued at $77,000 after purchasing an additional 3,987 shares during the last quarter. One Wealth Advisors LLC bought a new position in Heritage Commerce in the third quarter worth about $99,000. NorthCrest Asset Manangement LLC purchased a new stake in shares of Heritage Commerce during the third quarter valued at about $100,000. Finally, Point72 Asset Management L.P. bought a new stake in shares of Heritage Commerce in the 3rd quarter valued at about $107,000. 75.55% of the stock is currently owned by institutional investors.

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 Price Performance

Heritage Commerce stock opened at $9.01 on Thursday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.73 and a current ratio of 0.73. The company’s fifty day moving average price is $10.13 and its 200 day moving average price is $9.82. The stock has a market capitalization of $552.34 million, a P/E ratio of 12.69 and a beta of 0.96. Heritage Commerce Corp has a 1 year low of $7.66 and a 1 year high of $11.27.

Heritage Commerce (NASDAQ:HTBK) last posted its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.17 EPS for the quarter, meeting the consensus estimate of $0.17. The firm had revenue of $63.68 million during 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%. As a group, equities research analysts anticipate that Heritage Commerce Corp will post 0.66 earnings per share for the current fiscal year.

Heritage Commerce Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 5.77%. Heritage Commerce’s dividend payout ratio is currently 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.