UBS Group AG Has $3.58 Million Stake in Heritage Commerce Corp $HTBK

UBS Group AG trimmed its stake in Heritage Commerce Corp (NASDAQ:HTBK) by 13.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 298,038 shares of the financial services provider’s stock after selling 47,587 shares during the period. UBS Group AG’s holdings in Heritage Commerce were worth $3,579,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of HTBK. Parkside Financial Bank & Trust grew 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 worth $50,000 after purchasing an additional 1,815 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in Heritage Commerce by 16,272.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,403 shares of the financial services provider’s stock worth $54,000 after purchasing an additional 5,370 shares during the last quarter. Larson Financial Group LLC grew its position in Heritage Commerce by 495.3% in the 3rd quarter. Larson Financial Group LLC now owns 5,620 shares of the financial services provider’s stock worth $56,000 after purchasing an additional 4,676 shares during the last quarter. Russell Investments Group Ltd. grew its position in Heritage Commerce by 368.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 6,433 shares of the financial services provider’s stock worth $64,000 after purchasing an additional 5,061 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its position in Heritage Commerce by 50.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 10,749 shares of the financial services provider’s stock worth $107,000 after purchasing an additional 3,604 shares during the last quarter. 75.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

HTBK has been the topic of several research analyst reports. DA Davidson restated a “neutral” rating and issued a $14.50 price target on shares of Heritage Commerce in a research report on Wednesday, February 4th. Zacks Research lowered shares of Heritage Commerce from a “strong-buy” rating to a “hold” rating in a research report on Thursday, April 9th. Finally, Weiss Ratings upgraded shares of Heritage Commerce from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 9th. Two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Heritage Commerce has a consensus rating of “Hold” and an average price target of $13.13.

Heritage Commerce Price Performance

Shares of Heritage Commerce stock opened at $13.45 on Friday. The firm has a market cap of $828.43 million, a P/E ratio of 17.24 and a beta of 0.69. Heritage Commerce Corp has a twelve month low of $8.73 and a twelve month high of $13.83. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.74 and a current ratio of 0.74. The firm’s 50-day simple moving average is $13.02 and its 200-day simple moving average is $12.45.

Heritage Commerce Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 8th. Shareholders of record on Wednesday, March 25th were given a $0.13 dividend. The ex-dividend date was Wednesday, March 25th. This represents a $0.52 dividend on an annualized basis and a yield of 3.9%. Heritage Commerce’s payout ratio is 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.