Renaissance Technologies LLC Sells 100,800 Shares of Heritage Commerce Corp (NASDAQ:HTBK)
Renaissance Technologies LLC decreased its position in shares of Heritage Commerce Corp (NASDAQ:HTBK) by 14.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 580,200 shares of the financial services provider’s stock after selling 100,800 shares during the period. Renaissance Technologies LLC owned about 1.53% of Heritage Commerce Corp worth $8,181,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Dynamic Technology Lab Private Ltd bought a new position in Heritage Commerce Corp during the first quarter worth about $196,000. Stevens Capital Management LP raised its position in Heritage Commerce Corp by 19.8% in the first quarter. Stevens Capital Management LP now owns 13,974 shares of the financial services provider’s stock worth $197,000 after buying an additional 2,308 shares in the last quarter. Oxford Asset Management bought a new position in Heritage Commerce Corp during the first quarter worth about $212,000. American International Group Inc. raised its position in Heritage Commerce Corp by 6.9% in the first quarter. American International Group Inc. now owns 16,039 shares of the financial services provider’s stock worth $226,000 after buying an additional 1,038 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in Heritage Commerce Corp during the first quarter worth about $264,000. Institutional investors and hedge funds own 67.80% of the company’s stock.
Shares of Heritage Commerce Corp (NASDAQ:HTBK) traded down 0.60% during mid-day trading on Friday, hitting $13.29. The stock had a trading volume of 88,813 shares. The stock has a market cap of $506.75 million, a price-to-earnings ratio of 18.23 and a beta of 0.52. The firm’s 50-day moving average price is $13.79 and its 200 day moving average price is $13.87. Heritage Commerce Corp has a 12-month low of $10.23 and a 12-month high of $14.87.
Heritage Commerce Corp (NASDAQ:HTBK) last posted its earnings results on Thursday, July 27th. The financial services provider reported $0.19 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.19. The firm had revenue of $27.23 million for the quarter, compared to analyst estimates of $27.90 million. Heritage Commerce Corp had a return on equity of 10.61% and a net margin of 25.75%. Equities analysts forecast that Heritage Commerce Corp will post $0.78 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 24th. Shareholders of record on Thursday, August 10th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, August 8th. This represents a $0.40 annualized dividend and a yield of 3.01%. Heritage Commerce Corp’s dividend payout ratio is presently 54.79%.
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A number of research analysts recently issued reports on the company. Brean Capital set a $16.00 price objective on Heritage Commerce Corp and gave the company a “buy” rating in a research report on Friday, July 28th. BidaskClub lowered Heritage Commerce Corp from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Zacks Investment Research lowered Heritage Commerce Corp from a “hold” rating to a “sell” rating in a research report on Wednesday, May 3rd. Finally, ValuEngine upgraded Heritage Commerce Corp from a “hold” rating to a “buy” rating in a research report on Tuesday, July 11th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $15.50.
In other Heritage Commerce Corp news, Director J Philip Dinapoli bought 5,000 shares of Heritage Commerce Corp stock in a transaction on Thursday, August 10th. The shares were purchased at an average cost of $13.53 per share, for a total transaction of $67,650.00. Following the completion of the acquisition, the director now owns 163,376 shares in the company, valued at approximately $2,210,477.28. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 5.69% of the company’s stock.
About Heritage Commerce Corp
Heritage Commerce Corp is a bank holding company. The Company, through its subsidiary Heritage Bank of Commerce (the Bank), provides a range of banking services. The Bank is a California state-chartered multi-community independent bank that offers a range of commercial banking services to small and medium-sized businesses and their owners, managers and employees.
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