GSA Capital Partners LLP Buys 42,167 Shares of Heritage Commerce Corp (NASDAQ:HTBK)

GSA Capital Partners LLP boosted its stake in shares of Heritage Commerce Corp (NASDAQ:HTBK) by 49.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 127,528 shares of the financial services provider’s stock after purchasing an additional 42,167 shares during the quarter. GSA Capital Partners LLP’s holdings in Heritage Commerce were worth $1,260,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC lifted its position in shares of Heritage Commerce by 185.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 4,856 shares of the financial services provider’s stock valued at $42,000 after buying an additional 3,155 shares during the last quarter. nVerses Capital LLC purchased a new stake in Heritage Commerce during the third quarter valued at approximately $73,000. CWM LLC boosted its stake in Heritage Commerce by 148.0% in the second quarter. CWM LLC now owns 9,936 shares of the financial services provider’s stock valued at $86,000 after acquiring an additional 5,929 shares in the last quarter. One Wealth Advisors LLC purchased a new position in Heritage Commerce in the third quarter worth $99,000. Finally, NorthCrest Asset Manangement LLC acquired a new position in shares of Heritage Commerce during the third quarter worth $100,000. Hedge funds and other institutional investors own 75.55% of the company’s stock.

Heritage Commerce Price Performance

Shares of HTBK opened at $10.67 on Friday. The firm has a market capitalization of $654.07 million, a PE ratio of 15.03 and a beta of 0.93. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.73 and a quick ratio of 0.76. The company’s fifty day moving average price is $9.91 and its 200-day moving average price is $9.28. Heritage Commerce Corp has a 1-year low of $7.66 and a 1-year high of $11.01.

Heritage Commerce (NASDAQ:HTBK) last posted its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.17 earnings per share for the quarter, meeting the consensus estimate of $0.17. Heritage Commerce had a return on equity of 6.37% and a net margin of 17.61%. The business had revenue of $63.68 million for the quarter, compared to the consensus estimate of $43.14 million. On average, equities research analysts predict that Heritage Commerce Corp will post 0.66 EPS for the current year.

Heritage Commerce Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Thursday, November 7th will be issued a $0.13 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $0.52 annualized dividend and a yield of 4.87%. Heritage Commerce’s dividend payout ratio (DPR) is presently 73.24%.

Analysts Set New Price Targets

HTBK has been the subject of a number of recent analyst reports. Piper Sandler raised their price objective on Heritage Commerce from $10.00 to $12.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. StockNews.com raised Heritage Commerce from a “sell” rating to a “hold” rating in a report on Friday, November 8th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Heritage Commerce from $10.50 to $11.50 and gave the company an “outperform” rating in a report on Friday, July 26th.

Heritage Commerce 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.