Y Intercept Hong Kong Ltd Purchases New Shares in Heritage Commerce Corp (NASDAQ:HTBK)

Y Intercept Hong Kong Ltd acquired a new stake in shares of Heritage Commerce Corp (NASDAQ:HTBK) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 10,529 shares of the financial services provider’s stock, valued at approximately $99,000.

Other hedge funds have also recently bought and sold shares of the company. FMR LLC raised its holdings in shares of 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. Point72 Asset Management L.P. purchased a new stake in Heritage Commerce in the 3rd quarter valued at about $107,000. Intech Investment Management LLC purchased a new stake in Heritage Commerce in the 3rd quarter valued at about $116,000. Verition Fund Management LLC bought a new position in shares of Heritage Commerce during the 3rd quarter worth approximately $133,000. Finally, Quantbot Technologies LP boosted its stake in shares of Heritage Commerce by 212.2% in the 3rd quarter. Quantbot Technologies LP now owns 14,035 shares of the financial services provider’s stock worth $139,000 after buying an additional 9,540 shares during the last quarter. 75.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on the company. Stephens upgraded Heritage Commerce from an “equal weight” rating to an “overweight” rating in a report on Friday, February 7th. StockNews.com raised Heritage Commerce from a “sell” rating to a “hold” rating in a research report on Wednesday, December 4th. Finally, Keefe, Bruyette & Woods cut their price target on shares of Heritage Commerce from $12.50 to $11.50 and set an “outperform” rating on the stock in a report on Friday, January 24th.

Insider Transactions at Heritage Commerce

In other Heritage Commerce news, Director Jack W. Conner sold 4,000 shares of the stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $10.52, for a total transaction of $42,080.00. Following the sale, the director now owns 108,512 shares in the company, valued at $1,141,546.24. This represents a 3.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 3.99% of the company’s stock.

Heritage Commerce Price Performance

Heritage Commerce stock opened at $10.08 on Thursday. Heritage Commerce Corp has a 12 month low of $7.66 and a 12 month high of $11.27. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.06. The business’s 50 day simple moving average is $9.79 and its 200 day simple moving average is $9.96. The company has a market cap of $617.93 million, a price-to-earnings ratio of 15.27 and a beta of 0.96.

Heritage Commerce (NASDAQ:HTBK) last issued its earnings results on Thursday, January 23rd. The financial services provider reported $0.17 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.17. Heritage Commerce had a return on equity of 5.96% and a net margin of 16.12%. Sell-side analysts forecast that Heritage Commerce Corp will post 0.8 EPS for the current year.

Heritage Commerce Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, February 6th were issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 5.16%. The ex-dividend date of this dividend was Thursday, February 6th. Heritage Commerce’s dividend payout ratio (DPR) is presently 78.79%.

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.