Connor Clark & Lunn Investment Management Ltd. bought a new stake in Heritage Commerce Corp. (NASDAQ:HTBK) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 18,900 shares of the financial services provider’s stock, valued at approximately $232,000.
A number of other institutional investors have also added to or reduced their stakes in HTBK. Marshall Wace North America L.P. acquired a new position in Heritage Commerce in the first quarter valued at approximately $56,000. BNP Paribas Arbitrage SA lifted its stake in Heritage Commerce by 63,869.2% in the first quarter. BNP Paribas Arbitrage SA now owns 8,316 shares of the financial services provider’s stock valued at $101,000 after buying an additional 8,303 shares during the period. Campbell & CO Investment Adviser LLC acquired a new position in Heritage Commerce in the second quarter valued at approximately $128,000. Quantitative Systematic Strategies LLC acquired a new position in Heritage Commerce in the second quarter valued at approximately $141,000. Finally, Globeflex Capital L P lifted its stake in Heritage Commerce by 26.5% in the first quarter. Globeflex Capital L P now owns 13,788 shares of the financial services provider’s stock valued at $167,000 after buying an additional 2,888 shares during the period. Hedge funds and other institutional investors own 77.85% of the company’s stock.
NASDAQ HTBK traded up $0.09 on Friday, reaching $12.42. The company had a trading volume of 9,367 shares, compared to its average volume of 173,059. The stock has a market capitalization of $522.85 million, a P/E ratio of 11.73, a P/E/G ratio of 1.64 and a beta of 0.84. The company’s fifty day moving average is $11.67 and its 200 day moving average is $12.25. Heritage Commerce Corp. has a 52-week low of $10.84 and a 52-week high of $15.78. The company has a quick ratio of 0.72, a current ratio of 0.73 and a debt-to-equity ratio of 0.10.
Heritage Commerce (NASDAQ:HTBK) last released its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.02). The company had revenue of $33.68 million during the quarter, compared to analysts’ expectations of $34.80 million. Heritage Commerce had a net margin of 33.46% and a return on equity of 13.39%. On average, research analysts expect that Heritage Commerce Corp. will post 1.05 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 8th were paid a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $0.48 dividend on an annualized basis and a yield of 3.86%. Heritage Commerce’s dividend payout ratio (DPR) is presently 45.28%.
Several equities analysts have issued reports on the company. Zacks Investment Research raised Heritage Commerce from a “sell” rating to a “hold” rating in a research note on Tuesday, August 6th. BidaskClub raised Heritage Commerce from a “strong sell” rating to a “sell” rating in a research report on Thursday. Finally, ValuEngine raised Heritage Commerce from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 1st.
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. It offers a range of deposit products for business banking and retail markets, including interest and non-interest bearing demand, savings accounts, certificate of deposit, money market accounts, and time deposits.
Featured Story: What are gap-down stocks?
Receive News & Ratings for Heritage Commerce Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Heritage Commerce and related companies with MarketBeat.com's FREE daily email newsletter.