Empowered Funds LLC Acquires 7,638 Shares of Heritage Commerce Corp (NASDAQ:HTBK)

Empowered Funds LLC grew its position in Heritage Commerce Corp (NASDAQ:HTBK) by 5.3% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 150,733 shares of the financial services provider’s stock after purchasing an additional 7,638 shares during the period. Empowered Funds LLC owned about 0.25% of Heritage Commerce worth $1,489,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in HTBK. nVerses Capital LLC bought a new stake in shares of Heritage Commerce during the third quarter worth $73,000. CWM LLC boosted its stake in shares of Heritage Commerce by 148.0% in the 2nd quarter. CWM LLC now owns 9,936 shares of the financial services provider’s stock valued at $86,000 after purchasing an additional 5,929 shares during the last quarter. ProShare Advisors LLC acquired a new position in Heritage Commerce in the first quarter valued at approximately $91,000. One Wealth Advisors LLC bought a new stake in shares of Heritage Commerce during the 3rd quarter valued at $99,000. Finally, NorthCrest Asset Manangement LLC acquired a new position in shares of Heritage Commerce in the 3rd quarter valued at $100,000. 75.55% of the stock is currently owned by institutional investors and hedge funds.

Heritage Commerce Trading Up 1.8 %

HTBK opened at $10.71 on Friday. The stock has a market capitalization of $656.52 million, a P/E ratio of 15.08 and a beta of 0.93. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.06. Heritage Commerce Corp has a 12 month low of $7.66 and a 12 month high of $11.01. The firm’s fifty day simple moving average is $9.99 and its 200 day simple moving average is $9.37.

Heritage Commerce (NASDAQ:HTBK) last posted its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.17 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.17. The business had revenue of $63.68 million during the quarter, compared to the consensus estimate of $43.14 million. Heritage Commerce had a return on equity of 6.37% and a net margin of 17.61%. As a group, research analysts anticipate that Heritage Commerce Corp will post 0.66 EPS for the current fiscal year.

Heritage Commerce Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th were given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 4.86%. The ex-dividend date was Thursday, November 7th. Heritage Commerce’s dividend payout ratio is presently 73.24%.

Wall Street Analyst Weigh In

HTBK has been the subject of a number of recent analyst reports. StockNews.com upgraded Heritage Commerce from a “sell” rating to a “hold” rating in a report on Monday. Keefe, Bruyette & Woods raised 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. Finally, Piper Sandler increased their price target on Heritage Commerce from $10.00 to $12.00 and gave the stock an “overweight” rating in a report on Friday, July 26th.

Heritage Commerce 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.