Hennion & Walsh Asset Management Inc. Increases Position in Heritage Commerce Corp (NASDAQ:HTBK)

Hennion & Walsh Asset Management Inc. increased its stake in shares of Heritage Commerce Corp (NASDAQ:HTBK) by 29.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 36,840 shares of the financial services provider’s stock after buying an additional 8,472 shares during the quarter. Hennion & Walsh Asset Management Inc. owned about 0.06% of Heritage Commerce worth $346,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. lifted its position in Heritage Commerce by 58.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 463,774 shares of the financial services provider’s stock worth $4,350,000 after acquiring an additional 170,989 shares during the period. Franklin Resources Inc. lifted its holdings in shares of Heritage Commerce by 2.9% during the third quarter. Franklin Resources Inc. now owns 46,089 shares of the financial services provider’s stock worth $449,000 after purchasing an additional 1,302 shares during the period. Barclays PLC grew its position in Heritage Commerce by 7.2% in the 3rd quarter. Barclays PLC now owns 216,439 shares of the financial services provider’s stock valued at $2,139,000 after buying an additional 14,466 shares during the last quarter. Jane Street Group LLC increased its stake in Heritage Commerce by 55.6% in the 3rd quarter. Jane Street Group LLC now owns 103,596 shares of the financial services provider’s stock valued at $1,024,000 after buying an additional 36,997 shares during the period. Finally, Wellington Management Group LLP purchased a new position in Heritage Commerce during the 3rd quarter worth $20,093,000. Institutional investors and hedge funds own 75.55% of the company’s stock.

Analyst Ratings Changes

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

Heritage Commerce Stock Up 0.7 %

Heritage Commerce stock opened at $9.28 on Wednesday. The stock’s 50 day moving average price is $9.92 and its 200 day moving average price is $9.88. Heritage Commerce Corp has a 1-year low of $7.66 and a 1-year high of $11.27. The company has a market cap of $568.86 million, a PE ratio of 13.07 and a beta of 0.96. 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 earnings results on Thursday, October 24th. The financial services provider reported $0.17 EPS for the quarter, hitting the consensus estimate of $0.17. The company had revenue of $63.68 million for the quarter, compared to analyst estimates of $43.14 million. Heritage Commerce had a net margin of 17.61% and a return on equity of 6.37%. On average, sell-side analysts predict that Heritage Commerce Corp will post 0.66 EPS for the current fiscal year.

Heritage Commerce Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th were issued a $0.13 dividend. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $0.52 dividend on an annualized basis and a yield of 5.60%. Heritage Commerce’s dividend payout ratio (DPR) is presently 73.24%.

About Heritage Commerce

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.