Heritage Commerce Corp (NASDAQ:HTBK) Shares Sold by Trexquant Investment LP

Trexquant Investment LP cut its stake in shares of Heritage Commerce Corp (NASDAQ:HTBK) by 27.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 94,257 shares of the financial services provider’s stock after selling 34,917 shares during the quarter. Trexquant Investment LP owned approximately 0.15% of Heritage Commerce worth $884,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Franklin Resources Inc. grew its holdings in Heritage Commerce by 2.9% during the 3rd quarter. Franklin Resources Inc. now owns 46,089 shares of the financial services provider’s stock worth $449,000 after acquiring an additional 1,302 shares in the last quarter. US Bancorp DE lifted its position in shares of Heritage Commerce by 64.8% during the 4th quarter. US Bancorp DE now owns 3,473 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 1,365 shares during the last quarter. Princeton Capital Management LLC grew its stake in shares of Heritage Commerce by 13.3% during the fourth quarter. Princeton Capital Management LLC now owns 17,041 shares of the financial services provider’s stock worth $160,000 after purchasing an additional 2,000 shares in the last quarter. SG Americas Securities LLC increased its holdings in Heritage Commerce by 5.9% in the fourth quarter. SG Americas Securities LLC now owns 45,763 shares of the financial services provider’s stock valued at $429,000 after buying an additional 2,558 shares during the last quarter. Finally, Aigen Investment Management LP raised its stake in Heritage Commerce by 21.1% in the fourth quarter. Aigen Investment Management LP now owns 15,866 shares of the financial services provider’s stock valued at $149,000 after buying an additional 2,764 shares in the last quarter. 75.55% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on HTBK shares. Keefe, Bruyette & Woods lowered their price objective on Heritage Commerce from $12.50 to $11.50 and set an “outperform” rating for the company in a research report on Friday, January 24th. Stephens upgraded Heritage Commerce from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 3rd.

Heritage Commerce Price Performance

Shares of HTBK opened at $8.26 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.73 and a quick ratio of 0.73. Heritage Commerce Corp has a 1-year low of $7.66 and a 1-year high of $11.27. The stock has a market cap of $508.91 million, a PE ratio of 12.52 and a beta of 0.81. The firm has a fifty day moving average price of $9.78 and a 200 day moving average price of $9.83.

Heritage Commerce (NASDAQ:HTBK) last posted its earnings results on Thursday, January 23rd. The financial services provider reported $0.17 earnings per share for the quarter, meeting the consensus estimate of $0.17. Heritage Commerce had a return on equity of 5.96% and a net margin of 16.12%. As a group, sell-side analysts anticipate that Heritage Commerce Corp will post 0.8 EPS for the current year.

Heritage Commerce Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 6th were given a dividend of $0.13 per share. The ex-dividend date was Thursday, February 6th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 6.30%. Heritage Commerce’s dividend payout ratio (DPR) is presently 78.79%.

Insider Activity

In other Heritage Commerce news, CEO Robertson Clay Jones, Jr. sold 5,145 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $9.73, for a total transaction of $50,060.85. Following the completion of the sale, the chief executive officer now directly owns 254,227 shares of the company’s stock, valued at approximately $2,473,628.71. This trade represents a 1.98 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jack W. Conner sold 4,000 shares of Heritage Commerce stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $10.52, for a total value of $42,080.00. Following the completion of the transaction, the director now owns 108,512 shares in the company, valued at $1,141,546.24. This trade represents a 3.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 10,747 shares of company stock valued at $107,728 in the last ninety days. 3.99% of the stock is currently owned by company insiders.

Heritage Commerce Company 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. Its deposit products for business banking and retail markets include interest and non-interest-bearing demand, savings, and money market accounts, as well as certificates of deposit and time deposits.