Fox Run Management L.L.C. Buys Shares of 13,148 Heritage Commerce Corp (NASDAQ:HTBK)

Fox Run Management L.L.C. purchased a new position in Heritage Commerce Corp (NASDAQ:HTBK) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 13,148 shares of the financial services provider’s stock, valued at approximately $123,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. US Bancorp DE lifted its stake in Heritage Commerce by 64.8% during the 4th quarter. US Bancorp DE now owns 3,473 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 1,365 shares during the period. FMR LLC boosted its holdings in Heritage Commerce by 103.7% in the third quarter. FMR LLC now owns 7,832 shares of the financial services provider’s stock worth $77,000 after purchasing an additional 3,987 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in Heritage Commerce in the 4th quarter worth approximately $99,000. Point72 Asset Management L.P. bought a new position in shares of Heritage Commerce during the 3rd quarter valued at $107,000. Finally, Intech Investment Management LLC purchased a new position in shares of Heritage Commerce in the 3rd quarter worth $116,000. 75.55% of the stock is owned by institutional investors.

Heritage Commerce Stock Performance

Shares of HTBK opened at $9.54 on Friday. Heritage Commerce Corp has a 52 week low of $7.66 and a 52 week high of $11.27. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.06. The stock has a market cap of $586.17 million, a price-to-earnings ratio of 14.45 and a beta of 0.92. The business has a 50-day simple moving average of $9.96 and a two-hundred day simple moving average of $9.93.

Heritage Commerce (NASDAQ:HTBK) last released its earnings results on Thursday, January 23rd. The financial services provider reported $0.17 EPS for the quarter, hitting analysts’ consensus estimates of $0.17. 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 EPS for the current year.

Heritage Commerce Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, February 6th were paid a $0.13 dividend. The ex-dividend date was Thursday, February 6th. This represents a $0.52 dividend on an annualized basis and a yield of 5.45%. Heritage Commerce’s payout ratio is presently 78.79%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. StockNews.com raised Heritage Commerce from a “sell” rating to a “hold” rating in a report on Wednesday, December 4th. Stephens raised shares of Heritage Commerce from a “hold” rating to a “strong-buy” rating in a report on Monday, March 3rd. Finally, Keefe, Bruyette & Woods reduced their target price on shares of Heritage Commerce from $12.50 to $11.50 and set an “outperform” rating for the company in a report on Friday, January 24th.

Insider Buying and Selling at Heritage Commerce

In other news, CEO Robertson Clay Jones, Jr. sold 5,145 shares of Heritage Commerce stock in a transaction that occurred 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 sale, the chief executive officer now owns 254,227 shares in the company, valued at $2,473,628.71. This trade represents a 1.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jack W. Conner sold 4,000 shares of the company’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $10.52, for a total transaction of $42,080.00. Following the transaction, the director now owns 108,512 shares of the company’s stock, valued at approximately $1,141,546.24. This represents a 3.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 10,747 shares of company stock valued at $107,728 over the last ninety days. 3.99% of the stock is currently owned by company insiders.

About Heritage Commerce

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.