Empowered Funds LLC Has $1.49 Million Position in Heritage Commerce Corp (NASDAQ:HTBK)

Empowered Funds LLC increased its holdings in shares of Heritage Commerce Corp (NASDAQ:HTBK) by 5.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 158,347 shares of the financial services provider’s stock after acquiring an additional 7,614 shares during the quarter. Empowered Funds LLC owned about 0.26% of Heritage Commerce worth $1,485,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. nVerses Capital LLC acquired a new position in shares of Heritage Commerce during the 3rd quarter worth approximately $73,000. FMR LLC boosted its stake in Heritage Commerce by 103.7% in the 3rd 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 period. NorthCrest Asset Manangement LLC bought a new stake in Heritage Commerce in the 3rd quarter valued at $100,000. Point72 Asset Management L.P. bought a new stake in Heritage Commerce in the 3rd quarter valued at $107,000. Finally, Intech Investment Management LLC bought a new stake in Heritage Commerce in the 3rd quarter valued at $116,000. 75.55% of the stock is owned by institutional investors and hedge funds.

Heritage Commerce Stock Performance

NASDAQ:HTBK opened at $10.65 on Friday. The stock has a fifty day moving average price of $9.67 and a 200-day moving average price of $9.89. The company has a market cap of $652.85 million, a price-to-earnings ratio of 16.14 and a beta of 0.96. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.73 and a current ratio of 0.73. Heritage Commerce Corp has a fifty-two week low of $7.66 and a fifty-two week high of $11.27.

Heritage Commerce (NASDAQ:HTBK) last released its earnings results on Thursday, January 23rd. The financial services provider reported $0.17 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.17. Heritage Commerce had a return on equity of 5.96% and a net margin of 16.12%. As a group, equities analysts anticipate that Heritage Commerce Corp will post 0.8 EPS for the current fiscal year.

Heritage Commerce Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Stockholders of record on Thursday, February 6th will be issued a dividend of $0.13 per share. The ex-dividend date of this dividend is Thursday, February 6th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 4.88%. Heritage Commerce’s dividend payout ratio (DPR) is currently 78.79%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on HTBK. Stephens upgraded Heritage Commerce from an “equal weight” rating to an “overweight” rating in a research note on Friday, February 7th. StockNews.com upgraded Heritage Commerce from a “sell” rating to a “hold” rating in a research note on Wednesday, December 4th. Finally, Keefe, Bruyette & Woods reduced their price target on Heritage Commerce from $12.50 to $11.50 and set an “outperform” rating for the company in a research note on Friday, January 24th.

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.