State of New Jersey Common Pension Fund D Reduces Stake in Heritage Commerce Corp (NASDAQ:HTBK)

State of New Jersey Common Pension Fund D lessened its holdings in Heritage Commerce Corp (NASDAQ:HTBK) by 3.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 265,905 shares of the financial services provider’s stock after selling 10,382 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Heritage Commerce were worth $2,627,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Rosenthal Henry Capital Advisors Inc. increased its stake in shares of Heritage Commerce by 2.1% in the third quarter. Rosenthal Henry Capital Advisors Inc. now owns 203,837 shares of the financial services provider’s stock worth $2,014,000 after acquiring an additional 4,250 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in Heritage Commerce by 27.7% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 16,262 shares of the financial services provider’s stock valued at $161,000 after purchasing an additional 3,529 shares during the last quarter. NorthCrest Asset Manangement LLC acquired a new stake in Heritage Commerce during the 3rd quarter worth about $100,000. nVerses Capital LLC purchased a new position in shares of Heritage Commerce during the 3rd quarter valued at about $73,000. Finally, One Wealth Advisors LLC purchased a new position in shares of Heritage Commerce during the 3rd quarter valued at about $99,000. 75.55% of the stock is owned by hedge funds and other institutional investors.

Heritage Commerce Price Performance

NASDAQ:HTBK opened at $10.84 on Thursday. The stock has a market capitalization of $664.49 million, a PE ratio of 15.27 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 quick ratio of 0.76, a current ratio of 0.73 and a debt-to-equity ratio of 0.06. The stock’s 50-day moving average price is $9.89 and its 200-day moving average price is $9.27.

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

Heritage Commerce Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Thursday, November 7th will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 4.80%. The ex-dividend date is Thursday, November 7th. Heritage Commerce’s payout ratio is presently 73.24%.

Analyst Upgrades and Downgrades

Several analysts recently commented on HTBK shares. StockNews.com raised Heritage Commerce from a “sell” rating to a “hold” rating in a report on Friday, November 8th. Piper Sandler raised their price objective on shares of Heritage Commerce from $10.00 to $12.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Heritage Commerce from $10.50 to $11.50 and gave the company an “outperform” rating in a report on Friday, July 26th.

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. 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.