Price T Rowe Associates Inc. MD decreased its position in shares of Heritage Commerce Corp (NASDAQ:HTBK) by 2.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,767,181 shares of the financial services provider’s stock after selling 178,232 shares during the period. Price T Rowe Associates Inc. MD owned about 0.11% of Heritage Commerce worth $82,695,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Benjamin Edwards Inc. lifted its stake in Heritage Commerce by 161.9% during the 1st quarter. Benjamin Edwards Inc. now owns 3,926 shares of the financial services provider’s stock worth $48,000 after acquiring an additional 2,427 shares in the last quarter. Marshall Wace North America L.P. acquired a new position in Heritage Commerce during the 1st quarter worth about $56,000. Russell Investments Group Ltd. acquired a new stake in Heritage Commerce in the 1st quarter valued at about $174,000. Citigroup Inc. raised its position in Heritage Commerce by 35.1% in the 4th quarter. Citigroup Inc. now owns 15,079 shares of the financial services provider’s stock valued at $134,000 after purchasing an additional 3,921 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Heritage Commerce in the 1st quarter valued at about $196,000. 70.92% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have issued reports on HTBK shares. Raymond James increased their price target on Heritage Commerce from $10.00 to $13.00 and gave the company an “outperform” rating in a research report on Monday, April 26th. Zacks Investment Research downgraded Heritage Commerce from a “hold” rating to a “sell” rating in a report on Tuesday, July 13th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $11.13.
Heritage Commerce (NASDAQ:HTBK) last released its quarterly earnings results on Thursday, April 22nd. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.01. The firm had revenue of $37.26 million for the quarter, compared to the consensus estimate of $37.99 million. Heritage Commerce had a return on equity of 7.76% and a net margin of 28.74%. Equities research analysts predict that Heritage Commerce Corp will post 0.73 EPS for the current fiscal year.
In related news, Director Robert Moles sold 4,500 shares of the firm’s stock in a transaction that occurred on Thursday, June 10th. The stock was sold at an average price of $11.70, for a total transaction of $52,650.00. Following the transaction, the director now owns 44,984 shares in the company, valued at approximately $526,312.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 4.43% of the company’s stock.
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.
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