Banc Funds Co. LLC Sells 155,800 Shares of Heritage Commerce Corp (NASDAQ:HTBK)

Banc Funds Co. LLC trimmed its position in shares of Heritage Commerce Corp (NASDAQ:HTBK) by 36.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 272,839 shares of the financial services provider’s stock after selling 155,800 shares during the period. Banc Funds Co. LLC owned approximately 0.45% of Heritage Commerce worth $2,696,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in HTBK. Assenagon Asset Management S.A. boosted its stake in Heritage Commerce by 830.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,024,377 shares of the financial services provider’s stock valued at $8,912,000 after purchasing an additional 914,249 shares during the period. American Century Companies Inc. boosted its position in shares of Heritage Commerce by 21.2% in the second quarter. American Century Companies Inc. now owns 921,389 shares of the financial services provider’s stock valued at $8,016,000 after acquiring an additional 160,977 shares during the period. AQR Capital Management LLC boosted its position in shares of Heritage Commerce by 32.5% in the second quarter. AQR Capital Management LLC now owns 544,471 shares of the financial services provider’s stock valued at $4,737,000 after acquiring an additional 133,514 shares during the period. Vanguard Group Inc. increased its position in Heritage Commerce by 3.9% during the first quarter. Vanguard Group Inc. now owns 3,309,141 shares of the financial services provider’s stock worth $28,392,000 after acquiring an additional 123,973 shares during the period. Finally, GSA Capital Partners LLP increased its position in Heritage Commerce by 49.4% during the third quarter. GSA Capital Partners LLP now owns 127,528 shares of the financial services provider’s stock worth $1,260,000 after acquiring an additional 42,167 shares during the period. 75.55% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered shares of Heritage Commerce from a “hold” rating to a “sell” rating in a research report on Tuesday, November 26th.

Heritage Commerce Price Performance

Shares of HTBK stock opened at $10.62 on Monday. The company has a market capitalization of $651.01 million, a P/E ratio of 14.96 and a beta of 0.93. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.06. Heritage Commerce Corp has a 12 month low of $7.66 and a 12 month high of $11.27. The stock has a 50 day moving average of $10.07 and a two-hundred day moving average of $9.47.

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

Heritage Commerce Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 7th were paid a $0.13 dividend. The ex-dividend date was Thursday, November 7th. This represents a $0.52 dividend on an annualized basis and a yield of 4.90%. Heritage Commerce’s payout ratio is currently 73.24%.

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.