63,154 Shares in Heritage Commerce Corp (NASDAQ:HTBK) Purchased by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC purchased a new position in Heritage Commerce Corp (NASDAQ:HTBK) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 63,154 shares of the financial services provider’s stock, valued at approximately $592,000. Cubist Systematic Strategies LLC owned approximately 0.10% of Heritage Commerce at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Quarry LP grew its holdings in Heritage Commerce by 562.4% in the fourth quarter. Quarry LP now owns 3,153 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 2,677 shares during the period. US Bancorp DE grew 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 buying an additional 1,365 shares during the last quarter. Two Sigma Securities LLC purchased a new stake in shares of Heritage Commerce during the fourth quarter valued at approximately $97,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of Heritage Commerce during the fourth quarter valued at approximately $99,000. Finally, Oxford Asset Management LLP purchased a new stake in shares of Heritage Commerce during the fourth quarter valued at approximately $101,000. 75.55% of the stock is owned by institutional investors.

Insider Buying and Selling at Heritage Commerce

In other news, CEO Robertson Clay Jones, Jr. sold 5,145 shares of the business’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $9.73, for a total transaction of $50,060.85. Following the completion of the sale, the chief executive officer now owns 254,227 shares of the company’s stock, valued at $2,473,628.71. The trade was a 1.98% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jack W. Conner sold 4,000 shares of the business’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $10.52, for a total transaction of $42,080.00. Following the sale, the director now directly owns 108,512 shares of the company’s stock, valued at approximately $1,141,546.24. The trade was a 3.56% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,747 shares of company stock worth $107,728. Insiders own 2.71% of the company’s stock.

Heritage Commerce Price Performance

Shares of HTBK opened at $9.52 on Friday. The firm has a market cap of $586.39 million, a PE ratio of 14.42 and a beta of 0.77. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.06. The firm has a fifty day simple moving average of $9.13 and a two-hundred day simple moving average of $9.72. Heritage Commerce Corp has a 1-year low of $7.74 and a 1-year high of $11.27.

Heritage Commerce (NASDAQ:HTBK) last announced its earnings results 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 business had revenue of $46.06 million during the quarter, compared to analyst estimates of $45.89 million. Heritage Commerce had a net margin of 16.12% and a return on equity of 5.96%. On average, equities analysts anticipate that Heritage Commerce Corp will post 0.8 EPS for the current year.

Heritage Commerce Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Thursday, May 8th will be paid a dividend of $0.13 per share. The ex-dividend date of this dividend is Thursday, May 8th. This represents a $0.52 dividend on an annualized basis and a yield of 5.46%. Heritage Commerce’s dividend payout ratio is presently 76.47%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on HTBK shares. Raymond James set a $10.00 price target on shares of Heritage Commerce in a report on Monday, April 28th. Stephens reiterated an “overweight” rating and set a $11.00 price target on shares of Heritage Commerce in a report on Monday, April 28th. Finally, Keefe, Bruyette & Woods cut their price target on shares of Heritage Commerce from $11.50 to $11.00 and set an “outperform” rating on the stock in a report on Friday, April 25th.

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.