Dimensional Fund Advisors LP Sells 102,317 Shares of Heritage Commerce Corp (NASDAQ:HTBK)

Dimensional Fund Advisors LP lowered its stake in Heritage Commerce Corp (NASDAQ:HTBK) by 3.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,051,126 shares of the financial services provider’s stock after selling 102,317 shares during the quarter. Dimensional Fund Advisors LP owned approximately 4.98% of Heritage Commerce worth $26,544,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Banc Funds Co. LLC increased its position in Heritage Commerce by 8.2% during 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 purchasing an additional 51,515 shares during the period. Wellington Management Group LLP lifted its stake in Heritage Commerce by 6.1% during the 4th quarter. Wellington Management Group LLP now owns 508,796 shares of the financial services provider’s stock valued at $5,047,000 after acquiring an additional 29,291 shares in the last quarter. Hennion & Walsh Asset Management Inc. bought a new position in Heritage Commerce during the 1st quarter valued at $122,000. Allspring Global Investments Holdings LLC increased its position 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 valued at $42,000 after purchasing an additional 3,155 shares during the last quarter. Finally, Norden Group LLC purchased a new stake in shares of Heritage Commerce during the 1st quarter valued at $111,000. Institutional investors own 75.55% of the company’s stock.

Analyst Ratings Changes

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

Heritage Commerce Price Performance

Shares of HTBK stock opened at $9.61 on Thursday. The stock has a market cap of $588.67 million, a price-to-earnings ratio of 10.45 and a beta of 0.93. The business’s fifty day moving average is $9.93 and its 200 day moving average is $8.91. Heritage Commerce Corp has a twelve month low of $7.66 and a twelve month high of $10.99. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.06.

Heritage Commerce (NASDAQ:HTBK) last issued its quarterly earnings results on Friday, July 26th. The financial services provider reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.04). Heritage Commerce had a return on equity of 7.21% and a net margin of 19.82%. The firm had revenue of $61.35 million during the quarter, compared to analysts’ expectations of $43.35 million. Research analysts expect that Heritage Commerce Corp will post 0.66 EPS for the current fiscal year.

Heritage Commerce Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders 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 5.41%. The ex-dividend date of this dividend was Thursday, August 8th. Heritage Commerce’s payout ratio is currently 56.52%.

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.