GSA Capital Partners LLP Raises Position in Heritage Commerce Corp (NASDAQ:HTBK)

GSA Capital Partners LLP grew its stake in Heritage Commerce Corp (NASDAQ:HTBK) by 49.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 127,528 shares of the financial services provider’s stock after purchasing an additional 42,167 shares during the period. GSA Capital Partners LLP owned approximately 0.21% of Heritage Commerce worth $1,260,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of HTBK. Allspring Global Investments Holdings LLC boosted its stake in Heritage Commerce by 185.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 4,856 shares of the financial services provider’s stock worth $42,000 after buying an additional 3,155 shares during the period. nVerses Capital LLC purchased a new position in shares of Heritage Commerce during the 3rd quarter worth about $73,000. CWM LLC grew its holdings in Heritage Commerce by 148.0% during the 2nd quarter. CWM LLC now owns 9,936 shares of the financial services provider’s stock valued at $86,000 after purchasing an additional 5,929 shares during the last quarter. ProShare Advisors LLC purchased a new stake in Heritage Commerce in the 1st quarter worth about $91,000. Finally, One Wealth Advisors LLC bought a new stake in Heritage Commerce in the third quarter worth about $99,000. Institutional investors own 75.55% of the company’s stock.

Heritage Commerce Stock Down 1.6 %

Shares of NASDAQ HTBK opened at $10.67 on Friday. The stock has a 50 day moving average price of $9.91 and a 200 day moving average price of $9.28. The firm has a market capitalization of $654.07 million, a price-to-earnings ratio of 15.03 and a beta of 0.93. Heritage Commerce Corp has a 52-week low of $7.66 and a 52-week high of $11.01. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.76 and a current ratio of 0.73.

Heritage Commerce (NASDAQ:HTBK) last issued its earnings results on Thursday, October 24th. The financial services provider reported $0.17 earnings per share for the quarter, hitting the consensus estimate of $0.17. The business had revenue of $63.68 million during the quarter, compared to analysts’ expectations of $43.14 million. Heritage Commerce had a return on equity of 6.37% and a net margin of 17.61%. Sell-side analysts expect that Heritage Commerce Corp will post 0.66 earnings per share for the current year.

Heritage Commerce Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 4.87%. The ex-dividend date is Thursday, November 7th. Heritage Commerce’s dividend payout ratio (DPR) is 73.24%.

Analyst Upgrades and Downgrades

HTBK has been the topic of several recent analyst reports. Keefe, Bruyette & Woods increased their price target on Heritage Commerce from $10.50 to $11.50 and gave the stock an “outperform” rating in a report on Friday, July 26th. StockNews.com upgraded Heritage Commerce from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. Finally, Piper Sandler boosted their target price on shares of Heritage Commerce from $10.00 to $12.00 and gave the company an “overweight” rating in a research note on Friday, July 26th.

About Heritage Commerce

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.