Bank of New York Mellon Corp raised its position in shares of Heritage Commerce Corp. (NASDAQ:HTBK) by 17.1% during the second quarter, Holdings Channel reports. The firm owned 160,707 shares of the financial services provider’s stock after buying an additional 23,455 shares during the period. Bank of New York Mellon Corp owned about 0.50% of Heritage Commerce Corp. worth $1,693,000 at the end of the most recent reporting period.
Several other large investors have also bought and sold shares of the stock. Emerald Mutual Fund Advisers Trust acquired a new stake in Heritage Commerce Corp. during the second quarter worth approximately $1,460,000. Bank of Montreal Can acquired a new stake in Heritage Commerce Corp. during the second quarter worth approximately $130,000. Geode Capital Management LLC boosted its stake in Heritage Commerce Corp. by 3.7% in the first quarter. Geode Capital Management LLC now owns 148,458 shares of the financial services provider’s stock worth $1,486,000 after buying an additional 5,298 shares during the period. Consector Capital LP acquired a new stake in Heritage Commerce Corp. during the first quarter worth approximately $512,000. Finally, State Street Corp boosted its stake in Heritage Commerce Corp. by 2.2% in the first quarter. State Street Corp now owns 328,865 shares of the financial services provider’s stock worth $3,293,000 after buying an additional 6,932 shares during the period. Hedge funds and other institutional investors own 52.13% of the company’s stock.
Heritage Commerce Corp. (NASDAQ:HTBK) traded down 1.19% during midday trading on Friday, reaching $10.81. The company had a trading volume of 31,989 shares. The firm’s 50 day moving average is $11.32 and its 200 day moving average is $10.71. Heritage Commerce Corp. has a 1-year low of $8.84 and a 1-year high of $12.38. The stock has a market capitalization of $349.11 million, a PE ratio of 19.07 and a beta of 0.91.
Heritage Commerce Corp. (NASDAQ:HTBK) last released its quarterly earnings data on Friday, July 29th. The financial services provider reported $0.19 earnings per share (EPS) for the quarter. Heritage Commerce Corp. had a net margin of 21.08% and a return on equity of 9.21%. On average, equities analysts anticipate that Heritage Commerce Corp. will post $0.74 EPS for the current fiscal year.
Separately, Zacks Investment Research upgraded Heritage Commerce Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday, August 30th.
In other Heritage Commerce Corp. news, Director Komas Julianne M. Biagini sold 5,086 shares of the company’s stock in a transaction on Thursday, August 18th. The shares were sold at an average price of $11.45, for a total value of $58,234.70. Following the completion of the transaction, the director now owns 30,615 shares in the company, valued at $350,541.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director J Philip Dinapoli acquired 5,000 shares of the firm’s stock in a transaction on Tuesday, August 2nd. The stock was bought at an average price of $10.43 per share, with a total value of $52,150.00. Following the purchase, the director now directly owns 496,125 shares of the company’s stock, valued at $5,174,583.75. The disclosure for this purchase can be found here. 19.72% of the stock is currently owned by company insiders.
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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