Jacobs Levy Equity Management Inc. Makes New Investment in Heritage Commerce Corp $HTBK

Jacobs Levy Equity Management Inc. purchased a new position in Heritage Commerce Corp (NASDAQ:HTBK – Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 52,955 shares of the financial services provider’s stock, valued at approximately $504,000.
A number of other hedge funds have also modified their holdings of HTBK. Stifel Financial Corp bought a new position in shares of Heritage Commerce during the fourth quarter worth about $131,000. Price T Rowe Associates Inc. MD grew its holdings in shares of Heritage Commerce by 16.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 22,600 shares of the financial services provider’s stock worth $212,000 after buying an additional 3,234 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Heritage Commerce by 1.0% during the fourth quarter. Northern Trust Corp now owns 589,814 shares of the financial services provider’s stock worth $5,532,000 after buying an additional 5,773 shares in the last quarter. Balyasny Asset Management L.P. bought a new position in shares of Heritage Commerce during the fourth quarter worth about $209,000. Finally, Cubist Systematic Strategies LLC bought a new position in shares of Heritage Commerce during the fourth quarter worth about $592,000. 75.55% of the stock is currently owned by institutional investors.
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Insider Buying and Selling
In related news, COO Thomas A. Sa purchased 20,000 shares of Heritage Commerce stock in a transaction that occurred on Friday, August 1st. The stock was purchased at an average cost of $9.25 per share, with a total value of $185,000.00. Following the completion of the transaction, the chief operating officer owned 20,000 shares of the company’s stock, valued at approximately $185,000. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.71% of the company’s stock.
Analyst Upgrades and Downgrades
Separately, Wall Street Zen downgraded Heritage Commerce from a “hold” rating to a “sell” rating in a report on Saturday, July 26th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat, Heritage Commerce presently has an average rating of “Buy” and a consensus target price of $10.67.
Get Our Latest Analysis on Heritage Commerce
Heritage Commerce Stock Performance
Shares of NASDAQ HTBK opened at $10.16 on Friday. The stock has a 50 day moving average price of $10.01 and a 200 day moving average price of $9.59. Heritage Commerce Corp has a 52 week low of $8.09 and a 52 week high of $11.27. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.77 and a current ratio of 0.77. The stock has a market capitalization of $624.33 million, a PE ratio of 16.13 and a beta of 0.87.
Heritage Commerce (NASDAQ:HTBK – Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The financial services provider reported $0.21 EPS for the quarter, beating the consensus estimate of $0.19 by $0.02. Heritage Commerce had a return on equity of 6.61% and a net margin of 15.00%.The firm had revenue of $47.78 million during the quarter, compared to analysts’ expectations of $47.17 million. Analysts predict that Heritage Commerce Corp will post 0.8 earnings per share for the current fiscal year.
Heritage Commerce Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, August 7th were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Thursday, August 7th. This represents a $0.52 annualized dividend and a yield of 5.1%. Heritage Commerce’s dividend payout ratio is 82.54%.
Heritage Commerce Profile
(Free Report)
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.
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