Quest Partners LLC Reduces Holdings in Heritage Commerce Corp (NASDAQ:HTBK)

Quest Partners LLC lowered its holdings in shares of Heritage Commerce Corp (NASDAQ:HTBK) by 52.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 27,802 shares of the financial services provider’s stock after selling 30,767 shares during the period. Quest Partners LLC’s holdings in Heritage Commerce were worth $275,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of HTBK. nVerses Capital LLC acquired a new stake in shares of Heritage Commerce during the 3rd quarter worth about $73,000. CWM LLC boosted its position in Heritage Commerce by 148.0% during the second quarter. CWM LLC now owns 9,936 shares of the financial services provider’s stock worth $86,000 after acquiring an additional 5,929 shares during the last quarter. One Wealth Advisors LLC purchased a new stake in Heritage Commerce in the 3rd quarter worth approximately $99,000. NorthCrest Asset Manangement LLC acquired a new position in Heritage Commerce in the 3rd quarter valued at $100,000. Finally, ProShare Advisors LLC purchased a new position in shares of Heritage Commerce during the 1st quarter worth $91,000. 75.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded Heritage Commerce from a “hold” rating to a “sell” rating in a research report on Tuesday.

Heritage Commerce Price Performance

Heritage Commerce stock opened at $10.73 on Wednesday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.73 and a current ratio of 0.73. The company has a market cap of $657.78 million, a price-to-earnings ratio of 15.11 and a beta of 0.93. Heritage Commerce Corp has a 1 year low of $7.66 and a 1 year high of $11.27. The firm has a 50 day moving average price of $10.03 and a 200 day moving average price of $9.42.

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

Heritage Commerce Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th were paid a dividend of $0.13 per share. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $0.52 annualized dividend and a yield of 4.85%. Heritage Commerce’s dividend payout ratio is presently 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.