Hsbc Holdings PLC Sells 29,632 Shares of Heritage Commerce Corp (NASDAQ:HTBK)

Hsbc Holdings PLC lessened its holdings in Heritage Commerce Corp (NASDAQ:HTBK) by 60.6% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 19,279 shares of the financial services provider’s stock after selling 29,632 shares during the period. Hsbc Holdings PLC’s holdings in Heritage Commerce were worth $163,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Allspring Global Investments Holdings LLC raised its position in Heritage Commerce by 185.5% in 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 period. CWM LLC increased its position in Heritage Commerce by 148.0% in the second quarter. CWM LLC now owns 9,936 shares of the financial services provider’s stock worth $86,000 after buying an additional 5,929 shares in the last quarter. ProShare Advisors LLC bought a new position in shares of Heritage Commerce in the first quarter worth about $91,000. Norden Group LLC bought a new position in shares of Heritage Commerce during the 1st quarter valued at approximately $111,000. Finally, Hennion & Walsh Asset Management Inc. bought a new position in shares of Heritage Commerce during the 1st quarter valued at approximately $122,000. Hedge funds and other institutional investors own 75.55% of the company’s stock.

Wall Street Analyst Weigh In

HTBK has been the topic of several analyst reports. StockNews.com downgraded shares of Heritage Commerce from a “hold” rating to a “sell” rating in a report on Wednesday, July 10th. Piper Sandler raised 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, Keefe, Bruyette & Woods upped their price objective on Heritage Commerce from $10.50 to $11.50 and gave the stock an “outperform” rating in a research note on Friday, July 26th.

Heritage Commerce Stock Performance

Shares of NASDAQ HTBK opened at $9.54 on Friday. The company has a market cap of $584.38 million, a P/E ratio of 10.37 and a beta of 0.93. The firm’s fifty day moving average is $9.87 and its two-hundred day moving average is $8.93. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.76 and a current ratio of 0.76. Heritage Commerce Corp has a 52-week low of $7.66 and a 52-week high of $10.99.

Heritage Commerce (NASDAQ:HTBK) last released 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). The firm had revenue of $61.35 million for the quarter, compared to analysts’ expectations of $43.35 million. Heritage Commerce had a net margin of 19.82% and a return on equity of 7.21%. As a group, analysts anticipate that Heritage Commerce Corp will post 0.66 EPS for the current fiscal year.

Heritage Commerce Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 8th were paid a dividend of $0.13 per share. The ex-dividend date was Thursday, August 8th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 5.45%. Heritage Commerce’s dividend 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.