Meeder Asset Management Inc. raised its position in Heritage Commerce Corp. (NASDAQ:HTBK) by 471.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,100 shares of the financial services provider’s stock after purchasing an additional 6,683 shares during the period. Meeder Asset Management Inc.’s holdings in Heritage Commerce were worth $123,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in HTBK. Vanguard Group Inc. lifted its holdings in Heritage Commerce by 11.2% in the 2nd quarter. Vanguard Group Inc. now owns 1,550,961 shares of the financial services provider’s stock valued at $21,373,000 after purchasing an additional 155,957 shares in the last quarter. State Street Corp lifted its holdings in Heritage Commerce by 36.1% in the 2nd quarter. State Street Corp now owns 558,166 shares of the financial services provider’s stock valued at $7,693,000 after purchasing an additional 148,073 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Heritage Commerce by 7.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,569,841 shares of the financial services provider’s stock valued at $21,633,000 after purchasing an additional 109,558 shares in the last quarter. Northern Trust Corp lifted its holdings in Heritage Commerce by 27.2% in the 2nd quarter. Northern Trust Corp now owns 383,857 shares of the financial services provider’s stock valued at $5,289,000 after purchasing an additional 82,186 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its holdings in Heritage Commerce by 147.3% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 129,836 shares of the financial services provider’s stock valued at $1,848,000 after purchasing an additional 77,336 shares in the last quarter. Institutional investors own 70.20% of the company’s stock.

In other news, Director Jack W. Conner sold 24,500 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $15.47, for a total transaction of $379,015.00. Following the completion of the transaction, the director now owns 83,324 shares of the company’s stock, valued at approximately $1,289,022.28. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 5.69% of the company’s stock.

Heritage Commerce Corp. (NASDAQ:HTBK) opened at $15.70 on Wednesday. Heritage Commerce Corp. has a one year low of $12.76 and a one year high of $16.80. The company has a current ratio of 0.77, a quick ratio of 0.76 and a debt-to-equity ratio of 0.14. The company has a market cap of $600.14, a PE ratio of 19.64, a PEG ratio of 1.54 and a beta of 0.61.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 22nd. Stockholders of record on Thursday, February 8th will be paid a dividend of $0.11 per share. The ex-dividend date of this dividend is Wednesday, February 7th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.80%. This is an increase from Heritage Commerce’s previous quarterly dividend of $0.10. Heritage Commerce’s dividend payout ratio is currently 70.97%.

A number of research analysts have issued reports on the stock. Brean Capital restated a “buy” rating on shares of Heritage Commerce in a report on Monday, February 5th. DA Davidson upgraded shares of Heritage Commerce from a “neutral” rating to a “buy” rating in a report on Monday. BidaskClub upgraded shares of Heritage Commerce from a “sell” rating to a “hold” rating in a report on Thursday, January 11th. Zacks Investment Research lowered shares of Heritage Commerce from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 17th. Finally, ValuEngine lowered shares of Heritage Commerce from a “buy” rating to a “hold” rating in a report on Saturday, December 9th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $17.25.

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About Heritage Commerce

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.

Institutional Ownership by Quarter for Heritage Commerce (NASDAQ:HTBK)

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