Dynamic Technology Lab Private Ltd Increases Stock Position in Heritage Commerce Corp (NASDAQ:HTBK)

Dynamic Technology Lab Private Ltd grew its position in shares of Heritage Commerce Corp (NASDAQ:HTBK) by 79.8% in the 4th quarter, HoldingsChannel reports. The firm owned 51,161 shares of the financial services provider’s stock after acquiring an additional 22,713 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Heritage Commerce were worth $480,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its position in Heritage Commerce by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 496,190 shares of the financial services provider’s stock valued at $4,902,000 after purchasing an additional 6,884 shares during the last quarter. FMR LLC lifted its holdings in Heritage Commerce by 103.7% in the 3rd quarter. FMR LLC now owns 7,832 shares of the financial services provider’s stock worth $77,000 after buying an additional 3,987 shares during the period. BNP Paribas Financial Markets boosted its holdings in Heritage Commerce by 8.2% in the third quarter. BNP Paribas Financial Markets now owns 66,678 shares of the financial services provider’s stock valued at $659,000 after acquiring an additional 5,066 shares in the last quarter. Verition Fund Management LLC purchased a new position in shares of Heritage Commerce during the third quarter valued at about $133,000. Finally, Point72 Asset Management L.P. purchased a new position in shares of Heritage Commerce during the 3rd quarter worth approximately $107,000. Hedge funds and other institutional investors own 75.55% of the company’s stock.

Insider Activity at Heritage Commerce

In other news, CEO Robertson Clay Jones, Jr. sold 5,145 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $9.73, for a total transaction of $50,060.85. Following the sale, the chief executive officer now owns 254,227 shares of the company’s stock, valued at $2,473,628.71. This trade represents a 1.98 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jack W. Conner sold 4,000 shares of the stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $10.52, for a total value of $42,080.00. Following the transaction, the director now owns 108,512 shares in the company, valued at $1,141,546.24. This represents a 3.56 % decrease in their position. 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. Corporate insiders own 3.99% of the company’s stock.

Heritage Commerce Trading Down 0.7 %

Shares of NASDAQ HTBK opened at $8.39 on Wednesday. The stock has a market capitalization of $515.51 million, a P/E ratio of 12.71 and a beta of 0.81. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.73 and a quick ratio of 0.73. The business’s 50 day moving average is $9.87 and its two-hundred day moving average is $9.87. Heritage Commerce Corp has a 1-year low of $7.66 and a 1-year high of $11.27.

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

Heritage Commerce Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, February 6th were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 6.20%. The ex-dividend date of this dividend was Thursday, February 6th. Heritage Commerce’s dividend payout ratio is currently 78.79%.

Analysts Set New Price Targets

HTBK has been the subject of a number of analyst reports. Stephens raised Heritage Commerce from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 3rd. Keefe, Bruyette & Woods decreased their target price on shares of Heritage Commerce from $12.50 to $11.50 and set an “outperform” rating for the company in a research note on Friday, January 24th.

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.