Bank of Montreal Can Has $154,000 Stake in Heritage Commerce Corp (NASDAQ:HTBK)

Bank of Montreal Can maintained its stake in Heritage Commerce Corp (NASDAQ:HTBK) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,178 shares of the financial services provider’s stock at the close of the second quarter. Bank of Montreal Can’s holdings in Heritage Commerce Corp were worth $154,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in HTBK. Goldman Sachs Group Inc. raised its stake in shares of Heritage Commerce Corp by 1.7% during the first quarter. Goldman Sachs Group Inc. now owns 16,613 shares of the financial services provider’s stock worth $234,000 after buying an additional 278 shares during the last quarter. Globeflex Capital L P raised its stake in shares of Heritage Commerce Corp by 57.7% during the first quarter. Globeflex Capital L P now owns 50,837 shares of the financial services provider’s stock worth $717,000 after buying an additional 18,600 shares during the last quarter. American International Group Inc. raised its stake in shares of Heritage Commerce Corp by 6.9% during the first quarter. American International Group Inc. now owns 16,039 shares of the financial services provider’s stock worth $226,000 after buying an additional 1,038 shares during the last quarter. Menta Capital LLC raised its stake in shares of Heritage Commerce Corp by 391.7% during the first quarter. Menta Capital LLC now owns 68,573 shares of the financial services provider’s stock worth $967,000 after buying an additional 54,627 shares during the last quarter. Finally, John W. Rosenthal Capital Management Inc. raised its stake in shares of Heritage Commerce Corp by 41.3% during the first quarter. John W. Rosenthal Capital Management Inc. now owns 155,400 shares of the financial services provider’s stock worth $2,191,000 after buying an additional 45,400 shares during the last quarter. 69.47% of the stock is owned by institutional investors.

Shares of Heritage Commerce Corp (NASDAQ:HTBK) traded up 0.36% during midday trading on Friday, reaching $13.80. 83,976 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $13.54 and a 200-day moving average price of $13.79. The stock has a market cap of $526.19 million, a P/E ratio of 18.93 and a beta of 0.51. Heritage Commerce Corp has a 52-week low of $10.23 and a 52-week high of $14.87.

Heritage Commerce Corp (NASDAQ:HTBK) last released its quarterly earnings results on Thursday, July 27th. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.19. Heritage Commerce Corp had a net margin of 25.75% and a return on equity of 10.61%. The firm had revenue of $27.23 million during the quarter, compared to analyst estimates of $27.90 million. Analysts forecast that Heritage Commerce Corp will post $0.78 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 24th. Stockholders of record on Thursday, August 10th were paid a $0.10 dividend. The ex-dividend date was Tuesday, August 8th. This represents a $0.40 annualized dividend and a dividend yield of 2.91%. Heritage Commerce Corp’s dividend payout ratio is currently 54.79%.

A number of research firms recently weighed in on HTBK. Zacks Investment Research downgraded shares of Heritage Commerce Corp from a “hold” rating to a “sell” rating in a research note on Monday, July 3rd. ValuEngine raised shares of Heritage Commerce Corp from a “hold” rating to a “buy” rating in a research note on Tuesday, July 11th. Brean Capital reissued a “buy” rating on shares of Heritage Commerce Corp in a research note on Thursday, August 3rd. Finally, BidaskClub downgraded shares of Heritage Commerce Corp from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. Heritage Commerce Corp has a consensus rating of “Hold” and a consensus price target of $15.50.

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In other news, Director Komas Julianne M. Biagini sold 3,650 shares of the company’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $13.65, for a total transaction of $49,822.50. Following the sale, the director now directly owns 25,696 shares in the company, valued at $350,750.40. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director J Philip Dinapoli acquired 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The stock was bought at an average price of $13.53 per share, for a total transaction of $67,650.00. Following the completion of the transaction, the director now owns 163,376 shares of the company’s stock, valued at approximately $2,210,477.28. The disclosure for this purchase can be found here. Insiders own 5.69% of the company’s stock.

About Heritage Commerce Corp

Heritage Commerce Corp is a bank holding company. The Company, through its subsidiary Heritage Bank of Commerce (the Bank), provides a range of banking services. The Bank is a California state-chartered multi-community independent bank that offers a range of commercial banking services to small and medium-sized businesses and their owners, managers and employees.

Institutional Ownership by Quarter for Heritage Commerce Corp (NASDAQ:HTBK)

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