According to Zacks, “Heritage Commerce Corp. is the holding company of Heritage Bank of Commerce, Heritage Bank East Bay, Heritage Bank South Valley and Bank of Los Altos. The company offers a range of loans, primarily commercial, including real estate, construction, Small Business Administration), inventory and accounts receivable, and equipment loans. The company also accepts checking, savings, and time deposits; NOW and money market deposit accounts; and provides travelers’ checks, safe deposit, and other customary non-deposit banking services. “
Shares of Heritage Commerce Corp. (NASDAQ:HTBK) opened at 10.94 on Monday. The firm’s 50-day moving average price is $11.34 and its 200-day moving average price is $10.70. Heritage Commerce Corp. has a 12-month low of $8.84 and a 12-month high of $12.38. The firm has a market capitalization of $353.31 million, a P/E ratio of 19.29 and a beta of 0.91.
Heritage Commerce Corp. (NASDAQ:HTBK) last announced its earnings results on Friday, July 29th. The financial services provider reported $0.19 earnings per share (EPS) for the quarter. Heritage Commerce Corp. had a net margin of 21.08% and a return on equity of 9.21%. Equities analysts predict that Heritage Commerce Corp. will post $0.74 earnings per share for the current fiscal year.
In related news, Director W Kirk Wycoff sold 80,000 shares of the stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $11.86, for a total transaction of $948,800.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director J Philip Dinapoli purchased 5,000 shares of Heritage Commerce Corp. stock in a transaction that occurred on Tuesday, August 2nd. The shares were purchased at an average price of $10.43 per share, for a total transaction of $52,150.00. Following the transaction, the director now directly owns 496,125 shares in the company, valued at approximately $5,174,583.75. The disclosure for this purchase can be found here. Company insiders own 19.72% of the company’s stock.
Several hedge funds have recently bought and sold shares of HTBK. Victory Capital Management Inc. raised its stake in Heritage Commerce Corp. by 0.3% in the second quarter. Victory Capital Management Inc. now owns 63,430 shares of the financial services provider’s stock valued at $668,000 after buying an additional 205 shares in the last quarter. GSA Capital Partners LLP raised its stake in Heritage Commerce Corp. by 59.2% in the second quarter. GSA Capital Partners LLP now owns 20,169 shares of the financial services provider’s stock valued at $212,000 after buying an additional 7,500 shares in the last quarter. Emerald Acquisition Ltd. purchased a new stake in Heritage Commerce Corp. during the second quarter valued at about $258,000. RMB Capital Management LLC raised its stake in Heritage Commerce Corp. by 11.7% in the second quarter. RMB Capital Management LLC now owns 158,448 shares of the financial services provider’s stock valued at $1,668,000 after buying an additional 16,600 shares in the last quarter. Finally, Context BH Capital Management LP raised its stake in Heritage Commerce Corp. by 91.1% in the second quarter. Context BH Capital Management LP now owns 94,329 shares of the financial services provider’s stock valued at $993,000 after buying an additional 44,957 shares in the last quarter. Institutional investors and hedge funds own 52.13% of the company’s stock.
Heritage Commerce Corp. Company 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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