Heritage Commerce Corp (NASDAQ:HTBK) Shares Acquired by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. grew its holdings in Heritage Commerce Corp (NASDAQ:HTBK) by 58.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 463,774 shares of the financial services provider’s stock after purchasing an additional 170,989 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.76% of Heritage Commerce worth $4,350,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of HTBK. Wellington Management Group LLP purchased a new position in shares of Heritage Commerce during the third quarter valued at approximately $20,093,000. American Century Companies Inc. lifted its stake in shares of Heritage Commerce by 21.2% during the second quarter. American Century Companies Inc. now owns 921,389 shares of the financial services provider’s stock valued at $8,016,000 after buying an additional 160,977 shares during the period. AQR Capital Management LLC lifted its stake in shares of Heritage Commerce by 32.5% during the second quarter. AQR Capital Management LLC now owns 544,471 shares of the financial services provider’s stock valued at $4,737,000 after buying an additional 133,514 shares during the period. State Street Corp lifted its stake in shares of Heritage Commerce by 3.2% during the third quarter. State Street Corp now owns 1,965,643 shares of the financial services provider’s stock valued at $19,421,000 after buying an additional 61,630 shares during the period. Finally, GSA Capital Partners LLP lifted its stake in shares of Heritage Commerce by 49.4% during the third quarter. GSA Capital Partners LLP now owns 127,528 shares of the financial services provider’s stock valued at $1,260,000 after buying an additional 42,167 shares during the period. 75.55% of the stock is currently owned by institutional investors and hedge funds.

Heritage Commerce Stock Performance

NASDAQ:HTBK opened at $9.22 on Tuesday. 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 cap of $565.19 million, a P/E ratio of 12.99 and a beta of 0.96. Heritage Commerce Corp has a fifty-two week low of $7.66 and a fifty-two week high of $11.27. The firm’s 50 day moving average is $9.95 and its two-hundred day moving average is $9.87.

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

Heritage Commerce Announces Dividend

The business 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. This represents a $0.52 dividend on an annualized basis and a yield of 5.64%. The ex-dividend date of this dividend was Thursday, November 7th. Heritage Commerce’s dividend payout ratio is currently 73.24%.

Analyst Ratings Changes

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

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.