Point72 Asset Management L.P. Invests $107,000 in Heritage Commerce Corp (NASDAQ:HTBK)

Point72 Asset Management L.P. acquired a new position in shares of Heritage Commerce Corp (NASDAQ:HTBK) in the third quarter, HoldingsChannel reports. The fund acquired 10,837 shares of the financial services provider’s stock, valued at approximately $107,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Assenagon Asset Management S.A. boosted its holdings in Heritage Commerce by 830.2% during the second quarter. Assenagon Asset Management S.A. now owns 1,024,377 shares of the financial services provider’s stock worth $8,912,000 after buying an additional 914,249 shares during the last quarter. American Century Companies Inc. boosted its stake in Heritage Commerce by 21.2% during the 2nd quarter. American Century Companies Inc. now owns 921,389 shares of the financial services provider’s stock worth $8,016,000 after acquiring an additional 160,977 shares during the last quarter. AlTi Global Inc. grew its holdings in Heritage Commerce by 1.1% during the second quarter. AlTi Global Inc. now owns 648,286 shares of the financial services provider’s stock valued at $5,640,000 after purchasing an additional 6,747 shares during the period. AQR Capital Management LLC increased its stake in Heritage Commerce by 32.5% in the second quarter. AQR Capital Management LLC now owns 544,471 shares of the financial services provider’s stock valued at $4,737,000 after purchasing an additional 133,514 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Heritage Commerce by 2.8% in the second quarter. Bank of New York Mellon Corp now owns 501,917 shares of the financial services provider’s stock worth $4,367,000 after purchasing an additional 13,744 shares during the period. Institutional investors own 75.55% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Heritage Commerce from a “sell” rating to a “hold” rating in a report on Wednesday, December 4th.

Heritage Commerce Trading Up 0.7 %

NASDAQ:HTBK opened at $10.43 on Friday. The business’s 50-day simple moving average is $10.22 and its 200-day simple moving average is $9.62. Heritage Commerce Corp has a fifty-two week low of $7.66 and a fifty-two week high of $11.27. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.73 and a quick ratio of 0.73. The stock has a market capitalization of $639.36 million, a PE ratio of 14.69 and a beta of 0.94.

Heritage Commerce (NASDAQ:HTBK) last announced its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.17 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.17. Heritage Commerce had a net margin of 17.61% and a return on equity of 6.37%. The firm had revenue of $63.68 million for the quarter, compared to analyst estimates of $43.14 million. Sell-side analysts expect that Heritage Commerce Corp will post 0.66 earnings per share for the current fiscal year.

Heritage Commerce Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th were issued a $0.13 dividend. The ex-dividend date was Thursday, November 7th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 4.99%. Heritage Commerce’s dividend payout ratio (DPR) is 73.24%.

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.