Victory Capital Management Inc. boosted its position in Heritage Commerce Corp. (NASDAQ:HTBK) by 0.3% during the second quarter, Holdings Channel reports. The firm owned 63,430 shares of the financial services provider’s stock after buying an additional 205 shares during the period. Victory Capital Management Inc. owned 0.20% of Heritage Commerce Corp. worth $668,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in HTBK. Emerald Mutual Fund Advisers Trust purchased a new stake in Heritage Commerce Corp. during the second quarter worth $1,460,000. Consector Capital LP bought a new stake in Heritage Commerce Corp. during the first quarter worth $512,000. Context BH Capital Management LP increased 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 worth $993,000 after buying an additional 44,957 shares during the last quarter. Emerald Acquisition Ltd. bought a new stake in Heritage Commerce Corp. during the second quarter worth $258,000. Finally, Bank of New York Mellon Corp increased its stake in Heritage Commerce Corp. by 17.1% in the second quarter. Bank of New York Mellon Corp now owns 160,707 shares of the financial services provider’s stock worth $1,693,000 after buying an additional 23,455 shares during the last quarter. 52.13% of the stock is currently owned by institutional investors and hedge funds.
Heritage Commerce Corp. (NASDAQ:HTBK) traded down 0.27% during midday trading on Wednesday, reaching $11.05. The company’s stock had a trading volume of 10,800 shares. The firm has a market cap of $356.86 million, a P/E ratio of 19.49 and a beta of 0.95. Heritage Commerce Corp. has a 52 week low of $8.84 and a 52 week high of $12.38. The firm has a 50 day moving average price of $11.39 and a 200-day moving average price of $10.66.
Heritage Commerce Corp. (NASDAQ:HTBK) last posted its quarterly earnings data on Friday, July 29th. The financial services provider reported $0.19 EPS for the quarter. Heritage Commerce Corp. had a net margin of 21.08% and a return on equity of 9.21%. On average, analysts forecast that Heritage Commerce Corp. will post $0.74 earnings per share for the current fiscal year.
Separately, Zacks Investment Research downgraded Heritage Commerce Corp. from a “hold” rating to a “sell” rating in a report on Wednesday, August 3rd.
In other news, Director W Kirk Wycoff sold 80,000 shares of the company’s stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $11.86, for a total value of $948,800.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director J Philip Dinapoli bought 5,000 shares of the company’s stock in a transaction dated Tuesday, August 2nd. The stock was purchased at an average cost of $10.43 per share, for a total transaction of $52,150.00. Following the completion of the acquisition, the director now owns 496,125 shares in the company, valued at approximately $5,174,583.75. The disclosure for this purchase can be found here. 19.72% of the stock is currently owned by insiders.
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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