Heritage Commerce Corp (NASDAQ:HTBK) Position Increased by Cerity Partners LLC

Cerity Partners LLC boosted its position in Heritage Commerce Corp (NASDAQ:HTBK) by 17.0% in the third quarter, HoldingsChannel.com reports. The firm owned 146,349 shares of the financial services provider’s stock after purchasing an additional 21,288 shares during the quarter. Cerity Partners LLC’s holdings in Heritage Commerce were worth $1,446,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in HTBK. Assenagon Asset Management S.A. increased its holdings in shares of Heritage Commerce by 830.2% in the second 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 in the last quarter. Vanguard Group Inc. boosted its position in Heritage Commerce by 3.9% during the first quarter. Vanguard Group Inc. now owns 3,309,141 shares of the financial services provider’s stock valued at $28,392,000 after purchasing an additional 123,973 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Heritage Commerce by 27.7% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 16,262 shares of the financial services provider’s stock worth $161,000 after acquiring an additional 3,529 shares in the last quarter. Hennion & Walsh Asset Management Inc. lifted its stake in shares of Heritage Commerce by 106.9% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 29,300 shares of the financial services provider’s stock valued at $255,000 after purchasing an additional 15,136 shares during the last quarter. Finally, CWM LLC increased its holdings in shares of Heritage Commerce by 148.0% during the 2nd quarter. CWM LLC now owns 9,936 shares of the financial services provider’s stock valued at $86,000 after acquiring an additional 5,929 shares during the last quarter. 75.55% of the stock is owned by institutional investors.

Heritage Commerce Stock Down 1.1 %

NASDAQ HTBK opened at $10.47 on Wednesday. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.06. The stock’s 50 day moving average is $10.08 and its two-hundred day moving average is $9.50. Heritage Commerce Corp has a 1-year low of $7.66 and a 1-year high of $11.27. The company has a market capitalization of $641.81 million, a price-to-earnings ratio of 14.75 and a beta of 0.94.

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 the consensus estimate of $0.17. Heritage Commerce had a return on equity of 6.37% and a net margin of 17.61%. The firm had revenue of $63.68 million for the quarter, compared to the consensus estimate of $43.14 million. Equities analysts forecast that Heritage Commerce Corp will post 0.66 earnings per share for the current fiscal year.

Heritage Commerce Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th were paid a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 4.97%. The ex-dividend date of this dividend was Thursday, November 7th. Heritage Commerce’s payout ratio is presently 73.24%.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Heritage Commerce from a “sell” rating to a “hold” rating in a report on Wednesday.

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.