Boston Partners Has $15.66 Million Stake in Heritage Commerce Corp (NASDAQ:HTBK)

Boston Partners lowered its position in Heritage Commerce Corp (NASDAQ:HTBK) by 2.8% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 1,841,378 shares of the financial services provider’s stock after selling 52,469 shares during the quarter. Boston Partners owned about 3.01% of Heritage Commerce worth $15,659,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the business. Lindbrook Capital LLC increased its holdings in shares of Heritage Commerce by 47.7% during the fourth quarter. Lindbrook Capital LLC now owns 4,780 shares of the financial services provider’s stock valued at $47,000 after acquiring an additional 1,543 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in Heritage Commerce by 14.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 16,966 shares of the financial services provider’s stock worth $146,000 after purchasing an additional 2,159 shares in the last quarter. Pacific Ridge Capital Partners LLC increased its holdings in shares of Heritage Commerce by 3.2% in the first quarter. Pacific Ridge Capital Partners LLC now owns 99,301 shares of the financial services provider’s stock valued at $852,000 after purchasing an additional 3,108 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in Heritage Commerce by 185.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 4,856 shares of the financial services provider’s stock worth $42,000 after acquiring an additional 3,155 shares during the last quarter. Finally, GAMMA Investing LLC purchased a new position in shares of Heritage Commerce during the fourth quarter worth $49,000. Institutional investors own 75.55% of the company’s stock.

Heritage Commerce Price Performance

Shares of Heritage Commerce stock traded down $0.26 during midday trading on Friday, hitting $9.85. 1,454,226 shares of the company traded hands, compared to its average volume of 493,911. The stock has a market cap of $603.41 million, a price-to-earnings ratio of 10.71 and a beta of 0.94. Heritage Commerce Corp has a 12 month low of $7.66 and a 12 month high of $10.99. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.75 and a current ratio of 0.75. The firm’s fifty day moving average price is $8.80 and its 200-day moving average price is $8.55.

Heritage Commerce (NASDAQ:HTBK) last posted its 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). The firm had revenue of $61.35 million during the quarter, compared to the consensus estimate of $43.35 million. Heritage Commerce had a return on equity of 7.24% and a net margin of 19.82%. As a group, sell-side analysts forecast that Heritage Commerce Corp will post 0.68 earnings per share for the current year.

Heritage Commerce Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 22nd. Investors of record on Thursday, August 8th will be paid a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 5.28%. The ex-dividend date of this dividend is Thursday, August 8th. Heritage Commerce’s payout ratio is 56.52%.

Analyst Upgrades and Downgrades

HTBK has been the subject of a number of recent research reports. Keefe, Bruyette & Woods lifted their target price on Heritage Commerce from $10.50 to $11.50 and gave the company an “outperform” rating in a report on Friday, July 26th. Piper Sandler increased their price target on Heritage Commerce from $10.00 to $12.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Finally, StockNews.com downgraded Heritage Commerce from a “hold” rating to a “sell” rating in a research note on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $11.13.

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.