ClariVest Asset Management LLC Buys 4,613 Shares of Heritage Commerce Corp (NASDAQ:HTBK)

ClariVest Asset Management LLC lifted its stake in shares of Heritage Commerce Corp (NASDAQ:HTBK) by 2.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 165,108 shares of the financial services provider’s stock after acquiring an additional 4,613 shares during the period. ClariVest Asset Management LLC owned approximately 0.27% of Heritage Commerce worth $1,436,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Boston Partners increased its holdings in Heritage Commerce by 101.4% during the 4th quarter. Boston Partners now owns 1,893,847 shares of the financial services provider’s stock worth $18,718,000 after purchasing an additional 953,372 shares in the last quarter. Assenagon Asset Management S.A. raised its position in Heritage Commerce by 830.2% in 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 buying an additional 914,249 shares during the last quarter. Banc Funds Co. LLC lifted its stake in Heritage Commerce by 8.2% in the 4th quarter. Banc Funds Co. LLC now owns 683,598 shares of the financial services provider’s stock valued at $6,781,000 after acquiring an additional 51,515 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Heritage Commerce by 3.9% during the 1st quarter. Vanguard Group Inc. now owns 3,309,141 shares of the financial services provider’s stock worth $28,392,000 after acquiring an additional 123,973 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of Heritage Commerce by 185.5% during the 1st 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 in the last quarter. 75.55% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently commented on HTBK. Piper Sandler increased their target price on shares of Heritage Commerce from $10.00 to $12.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. StockNews.com cut Heritage Commerce from a “hold” rating to a “sell” rating in a report on Wednesday, July 10th. Finally, Keefe, Bruyette & Woods upped their target price on Heritage Commerce from $10.50 to $11.50 and gave the stock an “outperform” rating in a report on Friday, July 26th.

Heritage Commerce Stock Performance

NASDAQ HTBK opened at $9.68 on Thursday. The firm has a market capitalization of $592.96 million, a P/E ratio of 10.52 and a beta of 0.93. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.06. The firm’s fifty day moving average price is $9.76 and its two-hundred day moving average price is $8.75. Heritage Commerce Corp has a 1 year low of $7.66 and a 1 year high of $10.99.

Heritage Commerce (NASDAQ:HTBK) last issued 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 analyst estimates of $43.35 million. Heritage Commerce had a net margin of 19.82% and a return on equity of 7.21%. As a group, research analysts anticipate that Heritage Commerce Corp will post 0.66 EPS for the current year.

Heritage Commerce Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 8th were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 5.37%. The ex-dividend date of this dividend was Thursday, August 8th. Heritage Commerce’s payout ratio is presently 56.52%.

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.