Susquehanna Fundamental Investments LLC Takes Position in Heritage Commerce Corp (NASDAQ:HTBK)

Susquehanna Fundamental Investments LLC purchased a new stake in shares of Heritage Commerce Corp (NASDAQ:HTBK) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 13,118 shares of the financial services provider’s stock, valued at approximately $114,000.

Several other hedge funds have also added to or reduced their stakes in HTBK. Assenagon Asset Management S.A. lifted its position in Heritage Commerce by 830.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,024,377 shares of the financial services provider’s stock valued at $8,912,000 after purchasing an additional 914,249 shares during the period. Vanguard Group Inc. lifted its holdings in Heritage Commerce by 3.9% in the first quarter. Vanguard Group Inc. now owns 3,309,141 shares of the financial services provider’s stock valued at $28,392,000 after buying an additional 123,973 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in Heritage Commerce by 185.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 4,856 shares of the financial services provider’s stock valued at $42,000 after acquiring an additional 3,155 shares during the last quarter. Empowered Funds LLC grew its holdings in Heritage Commerce by 8.1% during the 1st quarter. Empowered Funds LLC now owns 132,835 shares of the financial services provider’s stock worth $1,140,000 after acquiring an additional 9,975 shares during the period. Finally, BNP Paribas Financial Markets raised its position in shares of Heritage Commerce by 10.7% during the 1st quarter. BNP Paribas Financial Markets now owns 71,033 shares of the financial services provider’s stock valued at $609,000 after acquiring an additional 6,866 shares during the last quarter. Institutional investors own 75.55% of the company’s stock.

Heritage Commerce Price Performance

HTBK opened at $9.54 on Friday. The stock has a market cap of $584.38 million, a P/E ratio of 10.37 and a beta of 0.93. Heritage Commerce Corp has a 12 month low of $7.66 and a 12 month high of $10.99. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.06. The company has a fifty day simple moving average of $9.87 and a 200 day simple moving average of $8.93.

Heritage Commerce (NASDAQ:HTBK) last announced its quarterly earnings results on Friday, July 26th. The financial services provider reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.04). Heritage Commerce had a return on equity of 7.21% and a net margin of 19.82%. The business had revenue of $61.35 million during the quarter, compared to the consensus estimate of $43.35 million. On average, research analysts expect that Heritage Commerce Corp will post 0.66 EPS for the current year.

Heritage Commerce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 8th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 5.45%. The ex-dividend date of this dividend was Thursday, August 8th. Heritage Commerce’s payout ratio is currently 56.52%.

Analysts Set New Price Targets

Several research firms have recently issued reports on HTBK. Keefe, Bruyette & Woods raised their price target on Heritage Commerce from $10.50 to $11.50 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Piper Sandler boosted their target price on Heritage Commerce from $10.00 to $12.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Finally, StockNews.com downgraded shares of Heritage Commerce from a “hold” rating to a “sell” rating in a research report on Wednesday, July 10th.

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.