Rhumbline Advisers Purchases 4,738 Shares of Heritage Commerce Corp (NASDAQ:HTBK)

Rhumbline Advisers boosted its holdings in shares of Heritage Commerce Corp (NASDAQ:HTBK) by 5.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 95,591 shares of the financial services provider’s stock after buying an additional 4,738 shares during the quarter. Rhumbline Advisers owned approximately 0.16% of Heritage Commerce worth $897,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC increased its position in Heritage Commerce by 27.7% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 16,262 shares of the financial services provider’s stock valued at $161,000 after buying an additional 3,529 shares in the last quarter. GSA Capital Partners LLP grew its position in Heritage Commerce by 49.4% during the 3rd quarter. GSA Capital Partners LLP now owns 127,528 shares of the financial services provider’s stock worth $1,260,000 after purchasing an additional 42,167 shares during the last quarter. Empowered Funds LLC increased its stake in Heritage Commerce by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 150,733 shares of the financial services provider’s stock valued at $1,489,000 after purchasing an additional 7,638 shares in the last quarter. Intech Investment Management LLC purchased a new stake in shares of Heritage Commerce during the third quarter valued at $116,000. Finally, Charles Schwab Investment Management Inc. raised its stake in Heritage Commerce by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 496,190 shares of the financial services provider’s stock worth $4,902,000 after acquiring an additional 6,884 shares during the last quarter. 75.55% of the stock is owned by institutional investors.

Heritage Commerce Stock Performance

NASDAQ HTBK opened at $9.99 on Friday. The firm has a market capitalization of $612.42 million, a P/E ratio of 15.14 and a beta of 0.96. The stock has a 50-day simple moving average of $9.80 and a two-hundred day simple moving average of $9.96. 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 issued its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $0.17 EPS for the quarter, hitting analysts’ consensus estimates of $0.17. Heritage Commerce had a net margin of 16.12% and a return on equity of 5.96%. On average, equities analysts forecast that Heritage Commerce Corp will post 0.8 earnings per share for the current year.

Heritage Commerce Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 6th were given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 5.21%. The ex-dividend date was Thursday, February 6th. Heritage Commerce’s dividend payout ratio (DPR) is presently 78.79%.

Analyst Ratings Changes

HTBK has been the topic of a number of research reports. Stephens raised Heritage Commerce from a “hold” rating to a “strong-buy” rating in a report on Monday. StockNews.com upgraded shares of Heritage Commerce from a “sell” rating to a “hold” rating in a report on Wednesday, December 4th. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of Heritage Commerce from $12.50 to $11.50 and set an “outperform” rating for the company in a research note on Friday, January 24th.

Insider Activity at Heritage Commerce

In other news, Director Jack W. Conner sold 4,000 shares of the stock in a transaction that occurred 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 transaction, the director now owns 108,512 shares in the company, valued at $1,141,546.24. This trade represents a 3.56 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 3.99% of the stock is owned by company insiders.

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.