Context BH Capital Management LP Increases Stake in Heritage Commerce Corp (HTBK)
Context BH Capital Management LP grew its position in Heritage Commerce Corp (NASDAQ:HTBK) by 6.3% in the second quarter, according to its most recent filing with the SEC. The fund owned 117,529 shares of the financial services provider’s stock after acquiring an additional 6,964 shares during the period. Context BH Capital Management LP owned 0.31% of Heritage Commerce Corp worth $1,620,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also recently made changes to their positions in HTBK. Legal & General Group Plc lifted its stake in shares of Heritage Commerce Corp by 20.4% in the 2nd quarter. Legal & General Group Plc now owns 7,903 shares of the financial services provider’s stock valued at $109,000 after acquiring an additional 1,339 shares during the last quarter. IFP Advisors Inc bought a new position in shares of Heritage Commerce Corp in the 2nd quarter valued at $132,000. Two Sigma Securities LLC bought a new position in shares of Heritage Commerce Corp in the 1st quarter valued at $150,000. Principal Financial Group Inc. bought a new position in shares of Heritage Commerce Corp in the 2nd quarter valued at $175,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Heritage Commerce Corp in the 1st quarter valued at $196,000. Institutional investors own 69.47% of the company’s stock.
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Heritage Commerce Corp (NASDAQ:HTBK) traded up 0.82% during mid-day trading on Tuesday, reaching $13.60. The company had a trading volume of 20,254 shares. Heritage Commerce Corp has a 12-month low of $10.23 and a 12-month high of $14.87. The firm has a market capitalization of $518.57 million, a price-to-earnings ratio of 18.66 and a beta of 0.51. The firm has a 50-day moving average price of $13.52 and a 200 day moving average price of $13.77.
Heritage Commerce Corp (NASDAQ:HTBK) last posted its quarterly earnings results on Thursday, July 27th. The financial services provider reported $0.19 earnings per share for the quarter, hitting the consensus estimate of $0.19. The business had revenue of $27.23 million during the quarter, compared to the consensus estimate of $27.90 million. Heritage Commerce Corp had a net margin of 25.75% and a return on equity of 10.61%. Analysts expect that Heritage Commerce Corp will post $0.78 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, August 24th. Shareholders of record on Thursday, August 10th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 2.97%. The ex-dividend date of this dividend was Tuesday, August 8th. Heritage Commerce Corp’s dividend payout ratio is presently 54.79%.
In other news, Director J Philip Dinapoli acquired 5,000 shares of the stock in a transaction dated Thursday, August 10th. The stock was purchased at an average cost of $13.53 per share, with a total value of $67,650.00. Following the completion of the purchase, the director now owns 163,376 shares in the company, valued at approximately $2,210,477.28. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Komas Julianne M. Biagini sold 3,650 shares of the company’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $13.65, for a total transaction of $49,822.50. Following the transaction, the director now directly owns 25,696 shares of the company’s stock, valued at $350,750.40. The disclosure for this sale can be found here. Insiders own 5.69% of the company’s stock.
A number of research analysts have recently commented on HTBK shares. ValuEngine upgraded Heritage Commerce Corp from a “hold” rating to a “buy” rating in a research note on Tuesday, July 11th. BidaskClub cut Heritage Commerce Corp from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 22nd. Zacks Investment Research upgraded Heritage Commerce Corp from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Finally, Brean Capital reiterated a “buy” rating on shares of Heritage Commerce Corp in a research note on Thursday, August 3rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. Heritage Commerce Corp has a consensus rating of “Hold” and an average price target of $15.50.
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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