Heritage Commerce Corp (NASDAQ:HTBK) Shares Bought by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. increased its stake in shares of Heritage Commerce Corp (NASDAQ:HTBK) by 0.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 500,637 shares of the financial services provider’s stock after buying an additional 4,447 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.82% of Heritage Commerce worth $4,696,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in HTBK. Wellington Management Group LLP purchased a new position in shares of Heritage Commerce in the 3rd quarter valued at approximately $20,093,000. Assenagon Asset Management S.A. grew its position in Heritage Commerce by 58.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 463,774 shares of the financial services provider’s stock valued at $4,350,000 after buying an additional 170,989 shares during the last quarter. State Street Corp increased its stake in Heritage Commerce by 3.2% in the 3rd quarter. State Street Corp now owns 1,965,643 shares of the financial services provider’s stock valued at $19,421,000 after buying an additional 61,630 shares during the period. State of New Jersey Common Pension Fund D raised its position in Heritage Commerce by 16.9% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 310,915 shares of the financial services provider’s stock worth $2,916,000 after buying an additional 45,010 shares during the last quarter. Finally, Jane Street Group LLC lifted its stake in shares of 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 worth $1,024,000 after acquiring an additional 36,997 shares during the period. Institutional investors and hedge funds own 75.55% of the company’s stock.

Heritage Commerce Stock Performance

Shares of HTBK opened at $9.62 on Wednesday. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.06. Heritage Commerce Corp has a 52-week low of $7.66 and a 52-week high of $11.27. The company has a 50-day simple moving average of $9.94 and a 200-day simple moving average of $9.94. The company has a market capitalization of $591.08 million, a PE ratio of 14.58 and a beta of 0.92.

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 analysts’ consensus estimates of $0.17. Heritage Commerce had a net margin of 16.12% and a return on equity of 5.96%. Equities research analysts predict that Heritage Commerce Corp will post 0.8 earnings per share for the current fiscal year.

Heritage Commerce Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Thursday, February 6th were issued a dividend of $0.13 per share. The ex-dividend date of this dividend was Thursday, February 6th. This represents a $0.52 annualized dividend and a yield of 5.41%. Heritage Commerce’s dividend payout ratio is presently 78.79%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Stephens upgraded shares of Heritage Commerce from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 3rd. StockNews.com upgraded Heritage Commerce from a “sell” rating to a “hold” rating in a research report on Wednesday, December 4th. Finally, Keefe, Bruyette & Woods cut their target price 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.

Insiders Place Their Bets

In other Heritage Commerce news, CEO Robertson Clay Jones, Jr. sold 5,145 shares of Heritage Commerce stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $9.73, for a total transaction of $50,060.85. Following the completion of the transaction, the chief executive officer now owns 254,227 shares in the company, valued at approximately $2,473,628.71. The trade was a 1.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jack W. Conner sold 4,000 shares of Heritage Commerce stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $10.52, for a total value of $42,080.00. Following the transaction, the director now owns 108,512 shares of the company’s stock, valued at $1,141,546.24. This represents a 3.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 10,747 shares of company stock worth $107,728. 3.99% of the stock is owned by corporate 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.