Patriot Financial Partners GP LP Purchases Shares of 11,994 Heritage Commerce Corp. (NASDAQ:HTBK)

Patriot Financial Partners GP LP purchased a new stake in Heritage Commerce Corp. (NASDAQ:HTBK) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 11,994 shares of the financial services provider’s stock, valued at approximately $141,000. Heritage Commerce accounts for about 0.0% of Patriot Financial Partners GP LP’s portfolio, making the stock its 18th biggest position.

A number of other institutional investors also recently added to or reduced their stakes in the business. Marshall Wace North America L.P. acquired a new position in Heritage Commerce in the 1st quarter worth $56,000. WINTON GROUP Ltd bought a new stake in Heritage Commerce in the second quarter valued at $170,000. Campbell & CO Investment Adviser LLC bought a new stake in Heritage Commerce in the second quarter valued at $128,000. Security National Bank increased its stake in Heritage Commerce by 6.7% in the second quarter. Security National Bank now owns 217,883 shares of the financial services provider’s stock valued at $2,669,000 after purchasing an additional 13,688 shares in the last quarter. Finally, Quantitative Systematic Strategies LLC bought a new stake in Heritage Commerce in the second quarter valued at $141,000. 77.72% of the stock is currently owned by hedge funds and other institutional investors.

Heritage Commerce stock traded down $0.05 during midday trading on Friday, hitting $12.33. 94,600 shares of the stock were exchanged, compared to its average volume of 181,826. The company has a quick ratio of 0.72, a current ratio of 0.73 and a debt-to-equity ratio of 0.10. Heritage Commerce Corp. has a 52-week low of $10.84 and a 52-week high of $14.76. The stock has a market capitalization of $531.99 million, a price-to-earnings ratio of 11.63 and a beta of 0.83. The business’s 50-day moving average price is $11.72 and its 200-day moving average price is $11.95.

Heritage Commerce (NASDAQ:HTBK) last released its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.26 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.26. Heritage Commerce had a net margin of 32.92% and a return on equity of 13.05%. The business had revenue of $33.24 million during the quarter, compared to analysts’ expectations of $33.99 million. On average, sell-side analysts predict that Heritage Commerce Corp. will post 1.05 earnings per share for the current fiscal year.

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The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 19th. Shareholders of record on Tuesday, November 5th will be paid a $0.12 dividend. The ex-dividend date is Monday, November 4th. This represents a $0.48 dividend on an annualized basis and a yield of 3.89%. Heritage Commerce’s dividend payout ratio is presently 45.28%.

Several research firms have weighed in on HTBK. ValuEngine raised shares of Heritage Commerce from a “sell” rating to a “hold” rating in a research note on Friday, October 4th. BidaskClub cut shares of Heritage Commerce from a “sell” rating to a “strong sell” rating in a report on Wednesday, September 25th. Finally, Zacks Investment Research upgraded shares of Heritage Commerce from a “sell” rating to a “hold” rating in a report on Tuesday, October 1st.

Heritage Commerce Profile

Heritage Commerce Corp operates as the bank holding company for Heritage Bank of Commerce that provides various commercial and personal banking services to residents and the business/professional community in California. It offers a range of deposit products for business banking and retail markets, including interest and non-interest bearing demand, savings accounts, certificate of deposit, money market accounts, and time deposits.

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

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