Heritage Commerce Corp $HTBK Position Cut by GSA Capital Partners LLP

GSA Capital Partners LLP decreased its position in shares of Heritage Commerce Corp (NASDAQ:HTBK) by 83.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 20,147 shares of the financial services provider’s stock after selling 100,726 shares during the quarter. GSA Capital Partners LLP’s holdings in Heritage Commerce were worth $200,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of HTBK. Parkside Financial Bank & Trust lifted its position in Heritage Commerce by 56.5% in the 3rd quarter. Parkside Financial Bank & Trust now owns 5,026 shares of the financial services provider’s stock valued at $50,000 after purchasing an additional 1,815 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Heritage Commerce by 16,272.7% in the second quarter. EverSource Wealth Advisors LLC now owns 5,403 shares of the financial services provider’s stock valued at $54,000 after purchasing an additional 5,370 shares during the period. D.A. Davidson & CO. bought a new stake in shares of Heritage Commerce during the third quarter valued at approximately $101,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Heritage Commerce during the second quarter worth approximately $107,000. Finally, Tower Research Capital LLC TRC boosted its position in shares of Heritage Commerce by 50.4% during the second quarter. Tower Research Capital LLC TRC now owns 10,749 shares of the financial services provider’s stock worth $107,000 after buying an additional 3,604 shares during the period. Institutional investors and hedge funds own 75.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Stephens restated an “equal weight” rating on shares of Heritage Commerce in a research report on Monday, January 5th. Wall Street Zen lowered Heritage Commerce from a “hold” rating to a “sell” rating in a report on Saturday, December 20th. Janney Montgomery Scott downgraded shares of Heritage Commerce from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $12.00 to $14.00 in a report on Monday, December 22nd. Weiss Ratings reiterated a “hold (c+)” rating on shares of Heritage Commerce in a research report on Monday, December 29th. Finally, Raymond James Financial downgraded shares of Heritage Commerce from an “outperform” rating to a “market perform” rating in a research report on Wednesday, January 7th. Two analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $12.25.

Heritage Commerce Trading Down 4.1%

Shares of HTBK stock opened at $12.43 on Monday. The stock has a 50-day simple moving average of $12.81 and a 200 day simple moving average of $11.29. Heritage Commerce Corp has a fifty-two week low of $8.09 and a fifty-two week high of $13.82. The stock has a market capitalization of $765.19 million, a P/E ratio of 15.94 and a beta of 0.79. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.06.

Heritage Commerce (NASDAQ:HTBK) last issued its quarterly earnings results on Thursday, January 22nd. The financial services provider reported $0.28 EPS for the quarter, topping the consensus estimate of $0.23 by $0.05. Heritage Commerce had a net margin of 17.77% and a return on equity of 8.10%. The firm had revenue of $53.62 million for the quarter, compared to analysts’ expectations of $50.78 million. On average, sell-side analysts expect that Heritage Commerce Corp will post 0.8 earnings per share for the current fiscal year.

Heritage Commerce Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 19th. Investors of record on Thursday, February 5th were paid a dividend of $0.13 per share. The ex-dividend date of this dividend was Thursday, February 5th. This represents a $0.52 annualized dividend and a yield of 4.2%. Heritage Commerce’s dividend payout ratio is currently 66.67%.

Heritage Commerce Profile

Heritage Commerce Corporation, headquartered in Farmington Hills, Michigan, is the bank holding company for Heritage Bank, N.A., a community-oriented financial institution. Traded on NASDAQ under the symbol HTBK, the company focuses on delivering tailored banking services to businesses, professionals and individuals throughout Southeastern Michigan.

Heritage Bank, N.A. offers a comprehensive portfolio of deposit and lending products designed to meet the needs of commercial and consumer clients.