SG Americas Securities LLC Reduces Stock Position in Heritage Commerce Corp (NASDAQ:HTBK)

SG Americas Securities LLC lowered its stake in Heritage Commerce Corp (NASDAQ:HTBK – Free Report) by 15.7% during the second quarter, HoldingsChannel reports. The institutional investor owned 30,170 shares of the financial services provider’s stock after selling 5,604 shares during the period. SG Americas Securities LLC’s holdings in Heritage Commerce were worth $262,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of HTBK. Strs Ohio grew its holdings in shares of Heritage Commerce by 37.8% during the fourth quarter. Strs Ohio now owns 64,900 shares of the financial services provider’s stock worth $643,000 after buying an additional 17,800 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Heritage Commerce by 94.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,381 shares of the financial services provider’s stock valued at $182,000 after purchasing an additional 8,905 shares during the period. Lindbrook Capital LLC raised its stake in Heritage Commerce by 47.7% during the 4th quarter. Lindbrook Capital LLC now owns 4,780 shares of the financial services provider’s stock worth $47,000 after buying an additional 1,543 shares in the last quarter. GAMMA Investing LLC purchased a new position in Heritage Commerce in the fourth quarter valued at about $49,000. Finally, Victory Capital Management Inc. boosted its stake in Heritage Commerce by 6.7% in the fourth quarter. Victory Capital Management Inc. now owns 97,600 shares of the financial services provider’s stock valued at $968,000 after buying an additional 6,100 shares in the last quarter. 75.55% of the shares are currently owned by institutional investors and hedge funds.

Analyst upgrades and downgrades

A number of equities analysts recently issued reports on the stock. Piper Sandler upped their target price on shares of Heritage Commerce from $10.00 to $12.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Keefe, Bruyette & Woods lifted their price objective on shares of Heritage Commerce from $10.50 to $11.50 and gave the company an “outperform” rating in a research note on Friday, July 26th. Finally, StockNews.com downgraded shares of Heritage Commerce from a “hold” rating to a “sell” rating in a research note on Wednesday, July 10th.

Check out our latest review on HTBK

Heritage Commerce Price Performance

Shares of Heritage Commerce opened at $10.04 on Friday. The company has a 50-day simple moving average of $9.25 and a 200-day simple moving average of $8.58. Heritage Commerce Corp has a 12-month low of $7.66 and a 12-month high of $10.99. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.75, and a quick ratio of 0.75. The stock has a market cap of $615.01 million, a PE ratio of 10.91 and a beta of 0.94.

Heritage Commerce (NASDAQ:HTBK – Get Your Free Report ) last announced its quarterly earnings data on Friday, July 26th. The financial services provider reported $0.15 EPS for the quarter, missing analysts’ consensus estimates 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 return on equity of 7.24% and a net margin of 19.82%. equities analysts forecast that Heritage Commerce Corp will post 0.68 earnings per share for the current year.

Heritage Commerce announces dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 8th were given a $0.13 dividend. This represents a dividend of $0.52 on an annualized basis and a yield of 5.18%. The ex-dividend date was Thursday, August 8. Heritage Commerce’s dividend payout ratio is currently 56.52%.

Heritage Commerce Company Profile

(Free report)

Heritage Commerce Corp operates as the bank holding company for Heritage Bank of Commerce, which provides various commercial and personal banking services to California residents and the business/professional community. 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.

See Also

Want to see what other hedge funds own HTBK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Heritage Commerce Corp (NASDAQ:HTBK – Free Report).

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