New York State Common Retirement Fund Sells 23,184 Shares of Heritage Commerce Corp. (HTBK)

New York State Common Retirement Fund trimmed its position in Heritage Commerce Corp. (NASDAQ:HTBK) by 32.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,872 shares of the financial services provider’s stock after selling 23,184 shares during the quarter. New York State Common Retirement Fund owned 0.13% of Heritage Commerce worth $681,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Legal & General Group Plc raised its stake in shares of Heritage Commerce by 20.4% in the second quarter. Legal & General Group Plc now owns 7,903 shares of the financial services provider’s stock valued at $109,000 after purchasing an additional 1,339 shares in the last quarter. Dynamic Technology Lab Private Ltd raised its stake in shares of Heritage Commerce by 27.8% in the second quarter. Dynamic Technology Lab Private Ltd now owns 17,737 shares of the financial services provider’s stock valued at $245,000 after purchasing an additional 3,856 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Heritage Commerce by 8.9% in the second quarter. JPMorgan Chase & Co. now owns 64,000 shares of the financial services provider’s stock valued at $882,000 after purchasing an additional 5,240 shares in the last quarter. Context BH Capital Management LP raised its stake in shares of Heritage Commerce by 6.3% in the second quarter. Context BH Capital Management LP now owns 117,529 shares of the financial services provider’s stock valued at $1,620,000 after purchasing an additional 6,964 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in shares of Heritage Commerce by 53.1% in the second quarter. Goldman Sachs Group Inc. now owns 25,431 shares of the financial services provider’s stock valued at $350,000 after purchasing an additional 8,818 shares in the last quarter. Institutional investors and hedge funds own 69.98% of the company’s stock.

Heritage Commerce Corp. (HTBK) opened at $15.60 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.76 and a current ratio of 0.77. Heritage Commerce Corp. has a 12 month low of $12.76 and a 12 month high of $16.63. The stock has a market capitalization of $587.53, a price-to-earnings ratio of 20.26, a price-to-earnings-growth ratio of 1.50 and a beta of 0.51.

Heritage Commerce (NASDAQ:HTBK) last released its quarterly earnings data on Thursday, October 26th. The financial services provider reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.01. Heritage Commerce had a return on equity of 11.15% and a net margin of 26.40%. The firm had revenue of $28.78 million during the quarter, compared to analyst estimates of $28.70 million. equities analysts anticipate that Heritage Commerce Corp. will post 0.82 EPS for the current fiscal year.

Several research analysts have issued reports on the company. Zacks Investment Research lowered Heritage Commerce from a “buy” rating to a “hold” rating in a research note on Monday, October 30th. BidaskClub lowered Heritage Commerce from a “hold” rating to a “sell” rating in a research note on Wednesday, December 27th. Brean Capital set a $16.00 price objective on Heritage Commerce and gave the stock a “buy” rating in a research note on Monday, October 23rd. Finally, ValuEngine lowered Heritage Commerce from a “buy” rating to a “hold” rating in a research note on Saturday, December 9th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. Heritage Commerce presently has an average rating of “Hold” and a consensus target price of $16.67.

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Heritage Commerce Profile

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.

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

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