Heritage Commerce Corp $HTBK Stock Holdings Boosted by Rhino Investment Partners Inc

Rhino Investment Partners Inc grew its position in shares of Heritage Commerce Corp (NASDAQ:HTBK) by 29.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 795,180 shares of the financial services provider’s stock after purchasing an additional 183,005 shares during the quarter. Heritage Commerce accounts for 2.5% of Rhino Investment Partners Inc’s portfolio, making the stock its 18th largest position. Rhino Investment Partners Inc owned about 1.30% of Heritage Commerce worth $7,896,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of HTBK. HoldCo Asset Management LP bought a new position in Heritage Commerce during the second quarter valued at about $16,121,000. Boston Partners grew its holdings in Heritage Commerce by 52.1% during the third quarter. Boston Partners now owns 1,676,777 shares of the financial services provider’s stock worth $16,636,000 after acquiring an additional 574,070 shares during the period. Vanguard Group Inc. raised its position in Heritage Commerce by 11.0% in the third quarter. Vanguard Group Inc. now owns 3,946,682 shares of the financial services provider’s stock worth $39,191,000 after acquiring an additional 390,978 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in Heritage Commerce by 120.3% in the third quarter. Arrowstreet Capital Limited Partnership now owns 383,035 shares of the financial services provider’s stock worth $3,804,000 after acquiring an additional 209,172 shares in the last quarter. Finally, UBS Group AG lifted its holdings in Heritage Commerce by 115.1% in the 3rd quarter. UBS Group AG now owns 345,625 shares of the financial services provider’s stock valued at $3,432,000 after acquiring an additional 184,976 shares during the last quarter. Institutional investors own 75.55% of the company’s stock.

Heritage Commerce Stock Performance

Shares of Heritage Commerce stock opened at $12.13 on Friday. Heritage Commerce Corp has a 12 month low of $8.09 and a 12 month high of $13.82. The company has a quick ratio of 0.75, a current ratio of 0.74 and a debt-to-equity ratio of 0.06. The stock has a market cap of $747.09 million, a PE ratio of 15.55 and a beta of 0.79. The business has a fifty day simple moving average of $12.83 and a 200-day simple moving average of $11.45.

Heritage Commerce (NASDAQ:HTBK) last posted its quarterly earnings results on Thursday, January 22nd. The financial services provider reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.05. The firm had revenue of $104.04 million for the quarter, compared to analyst estimates of $50.78 million. Heritage Commerce had a return on equity of 8.07% and a net margin of 17.77%. On average, sell-side analysts anticipate that Heritage Commerce Corp will post 0.8 EPS for the current fiscal year.

Heritage Commerce Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 8th. Stockholders of record on Wednesday, March 25th will be issued a $0.13 dividend. The ex-dividend date is Wednesday, March 25th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 4.3%. Heritage Commerce’s dividend payout ratio is currently 66.67%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on HTBK shares. DA Davidson reaffirmed a “neutral” rating and issued a $14.50 price objective on shares of Heritage Commerce in a research note on Wednesday, February 4th. Raymond James Financial lowered shares of Heritage Commerce from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 7th. Weiss Ratings upgraded shares of Heritage Commerce from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday. Wall Street Zen lowered shares of Heritage Commerce from a “hold” rating to a “sell” rating in a research report on Saturday, December 20th. Finally, Janney Montgomery Scott cut Heritage Commerce from a “buy” rating to a “neutral” rating and upped their price target for the company from $12.00 to $14.00 in a report on Monday, December 22nd. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $12.25.

Heritage Commerce Company Profile

Heritage Commerce Corporation, headquartered in Farmington Hills, Michigan, is the bank holding company for Heritage Bank, N.A., a community-oriented financial institution. Traded on NASDAQ under the symbol HTBK, the company focuses on delivering tailored banking services to businesses, professionals and individuals throughout Southeastern Michigan.

Heritage Bank, N.A. offers a comprehensive portfolio of deposit and lending products designed to meet the needs of commercial and consumer clients.