ExodusPoint Capital Management LP Invests $1.27 Million in Heritage Commerce Corp (NASDAQ:HTBK)

ExodusPoint Capital Management LP acquired a new position in shares of Heritage Commerce Corp (NASDAQ:HTBK) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 135,563 shares of the financial services provider’s stock, valued at approximately $1,272,000. ExodusPoint Capital Management LP owned about 0.22% of Heritage Commerce at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in HTBK. Wellington Management Group LLP increased its holdings in Heritage Commerce by 13.2% in the fourth quarter. Wellington Management Group LLP now owns 2,302,615 shares of the financial services provider’s stock worth $21,599,000 after purchasing an additional 268,900 shares in the last quarter. State Street Corp increased its holdings in Heritage Commerce by 3.2% in the third quarter. State Street Corp now owns 1,965,643 shares of the financial services provider’s stock worth $19,421,000 after purchasing an additional 61,630 shares in the last quarter. Boston Partners increased its holdings in Heritage Commerce by 1.7% in the fourth quarter. Boston Partners now owns 1,564,741 shares of the financial services provider’s stock worth $14,620,000 after purchasing an additional 26,442 shares in the last quarter. Geode Capital Management LLC increased its holdings in Heritage Commerce by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 1,426,816 shares of the financial services provider’s stock worth $13,386,000 after purchasing an additional 4,756 shares in the last quarter. Finally, American Century Companies Inc. increased its holdings in Heritage Commerce by 3.4% in the fourth quarter. American Century Companies Inc. now owns 1,129,910 shares of the financial services provider’s stock worth $10,599,000 after purchasing an additional 36,821 shares in the last quarter. 75.55% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on HTBK shares. Keefe, Bruyette & Woods reduced their price objective on Heritage Commerce from $12.50 to $11.50 and set an “outperform” rating for the company in a research note on Friday, January 24th. Stephens raised Heritage Commerce from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 3rd.

Heritage Commerce Trading Up 5.0 %

Shares of Heritage Commerce stock opened at $8.81 on Thursday. The stock has a market capitalization of $541.31 million, a PE ratio of 13.35 and a beta of 0.81. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.73 and a current ratio of 0.73. Heritage Commerce Corp has a 52 week low of $7.66 and a 52 week high of $11.27. The stock has a 50 day moving average price of $9.83 and a two-hundred day moving average price of $9.85.

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

Heritage Commerce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Thursday, February 6th were issued a dividend of $0.13 per share. The ex-dividend date was Thursday, February 6th. This represents a $0.52 annualized dividend and a yield of 5.90%. Heritage Commerce’s dividend payout ratio (DPR) is currently 78.79%.

Insider Buying and Selling

In related news, Director Jack W. Conner sold 4,000 shares of the company’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $10.52, for a total transaction of $42,080.00. Following the completion of the sale, the director now owns 108,512 shares in the company, valued at approximately $1,141,546.24. This represents a 3.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Robertson Clay Jones, Jr. sold 5,145 shares of the company’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $9.73, for a total value of $50,060.85. Following the completion of the transaction, 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,747 shares of company stock worth $107,728. 3.99% of the stock is owned by corporate insiders.

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.