Ategra Capital Management LLC Sells 478,480 Shares of Heritage Commerce Corp (NASDAQ:HTBK)

Ategra Capital Management LLC trimmed its position in shares of Heritage Commerce Corp (NASDAQ:HTBK) by 56.4% during the 4th quarter, HoldingsChannel.com reports. The fund owned 369,321 shares of the financial services provider’s stock after selling 478,480 shares during the period. Heritage Commerce makes up approximately 2.3% of Ategra Capital Management LLC’s holdings, making the stock its 14th largest holding. Ategra Capital Management LLC’s holdings in Heritage Commerce were worth $3,464,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. Quarry LP lifted its position in Heritage Commerce by 562.4% during the fourth quarter. Quarry LP now owns 3,153 shares of the financial services provider’s stock valued at $30,000 after buying an additional 2,677 shares during the period. US Bancorp DE lifted its holdings in shares of Heritage Commerce by 64.8% during the fourth quarter. US Bancorp DE now owns 3,473 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 1,365 shares during the last quarter. Two Sigma Securities LLC bought a new stake in shares of Heritage Commerce in the 4th quarter worth approximately $97,000. Y Intercept Hong Kong Ltd bought a new position in Heritage Commerce during the 4th quarter valued at approximately $99,000. Finally, Oxford Asset Management LLP purchased a new position in Heritage Commerce during the fourth quarter valued at $101,000. Institutional investors own 75.55% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on HTBK. Keefe, Bruyette & Woods reduced their price target on Heritage Commerce from $11.50 to $11.00 and set an “outperform” rating for the company in a report on Friday, April 25th. Raymond James set a $10.00 target price on shares of Heritage Commerce in a research note on Monday. Finally, Stephens reissued an “overweight” rating and set a $11.00 price target on shares of Heritage Commerce in a research report on Monday, April 28th.

Heritage Commerce Price Performance

Shares of NASDAQ:HTBK opened at $9.30 on Friday. The business has a 50-day simple moving average of $9.29 and a two-hundred day simple moving average of $9.75. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.73 and a current ratio of 0.73. The firm has a market cap of $572.98 million, a price-to-earnings ratio of 14.09 and a beta of 0.81. Heritage Commerce Corp has a fifty-two week low of $7.74 and a fifty-two week high of $11.27.

Heritage Commerce (NASDAQ:HTBK) last issued its quarterly earnings data on Thursday, April 24th. The financial services provider reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.01. The company had revenue of $46.06 million for the quarter, compared to the consensus estimate of $45.89 million. Heritage Commerce had a net margin of 16.12% and a return on equity of 5.96%. On average, analysts expect that Heritage Commerce Corp will post 0.8 earnings per share for the current year.

Heritage Commerce Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Investors of record on Thursday, May 8th will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 5.59%. The ex-dividend date of this dividend is Thursday, May 8th. Heritage Commerce’s dividend payout ratio (DPR) is presently 76.47%.

Insider Buying and Selling at Heritage Commerce

In other news, Director Jack W. Conner sold 4,000 shares of the company’s stock in a transaction dated Thursday, February 27th. The shares were 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 of the company’s stock, valued at $1,141,546.24. This represents a 3.56 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Robertson Clay Jones, Jr. sold 5,145 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $9.73, for a total transaction of $50,060.85. Following the completion of the transaction, the chief executive officer now directly owns 254,227 shares in the company, valued at approximately $2,473,628.71. The trade was a 1.98 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,747 shares of company stock valued at $107,728. 2.71% of the stock is owned by company insiders.

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.