Cornerstone Capital Management Holdings LLC. lessened its holdings in shares of Heritage Commerce Corp (NASDAQ:HTBK) by 60.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 11,707 shares of the financial services provider’s stock after selling 17,900 shares during the quarter. Cornerstone Capital Management Holdings LLC.’s holdings in Heritage Commerce Corp were worth $160,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Goldman Sachs Group Inc. lifted its stake in shares of Heritage Commerce Corp by 1.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 16,613 shares of the financial services provider’s stock worth $234,000 after purchasing an additional 278 shares during the period. American International Group Inc. lifted its stake in shares of Heritage Commerce Corp by 6.9% during the 1st quarter. American International Group Inc. now owns 16,039 shares of the financial services provider’s stock worth $226,000 after purchasing an additional 1,038 shares during the period. Legal & General Group Plc lifted its stake in shares of Heritage Commerce Corp by 20.4% during the 2nd quarter. Legal & General Group Plc now owns 7,903 shares of the financial services provider’s stock worth $109,000 after purchasing an additional 1,339 shares during the period. Bank of America Corp DE lifted its stake in shares of Heritage Commerce Corp by 11.1% during the 1st quarter. Bank of America Corp DE now owns 19,692 shares of the financial services provider’s stock worth $277,000 after purchasing an additional 1,974 shares during the period. Finally, John W. Rosenthal Capital Management Inc. lifted its stake in shares of Heritage Commerce Corp by 3.0% during the 2nd quarter. John W. Rosenthal Capital Management Inc. now owns 160,100 shares of the financial services provider’s stock worth $2,206,000 after purchasing an additional 4,700 shares during the period. 69.47% of the stock is currently owned by institutional investors.

In other Heritage Commerce Corp news, Director J Philip Dinapoli acquired 5,000 shares of Heritage Commerce Corp stock in a transaction that occurred on Thursday, August 10th. The stock was acquired at an average price of $13.53 per share, with a total value of $67,650.00. Following the purchase, the director now owns 163,376 shares in the company, valued at $2,210,477.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Komas Julianne M. Biagini sold 3,650 shares of Heritage Commerce Corp stock in a transaction on Monday, August 28th. The shares were sold at an average price of $13.65, for a total transaction of $49,822.50. Following the completion of the sale, the director now directly owns 25,696 shares of the company’s stock, valued at approximately $350,750.40. The disclosure for this sale can be found here. Insiders own 5.69% of the company’s stock.

A number of research analysts have weighed in on the company. Zacks Investment Research lowered Heritage Commerce Corp from a “hold” rating to a “sell” rating in a research note on Monday, July 3rd. Brean Capital reissued a “buy” rating on shares of Heritage Commerce Corp in a research note on Monday. ValuEngine raised Heritage Commerce Corp from a “hold” rating to a “buy” rating in a research note on Tuesday, July 11th. Finally, BidaskClub lowered Heritage Commerce Corp from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. Heritage Commerce Corp has an average rating of “Hold” and a consensus target price of $15.67.

Heritage Commerce Corp (NASDAQ HTBK) opened at 15.09 on Tuesday. The stock has a market cap of $575.38 million, a price-to-earnings ratio of 20.70 and a beta of 0.51. Heritage Commerce Corp has a 52 week low of $10.23 and a 52 week high of $15.30. The firm’s 50 day moving average price is $14.30 and its 200-day moving average price is $13.91.

Heritage Commerce Corp (NASDAQ:HTBK) last posted its quarterly earnings results on Thursday, October 26th. The financial services provider reported $0.22 EPS for the quarter, beating the consensus estimate of $0.21 by $0.01. Heritage Commerce Corp had a net margin of 26.40% and a return on equity of 11.27%. The business had revenue of $28.78 million for the quarter, compared to analysts’ expectations of $28.70 million. Analysts expect that Heritage Commerce Corp will post $0.81 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 21st. Stockholders of record on Tuesday, November 7th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 2.65%. The ex-dividend date of this dividend is Monday, November 6th. Heritage Commerce Corp’s dividend payout ratio is currently 51.95%.

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About Heritage Commerce Corp

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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Institutional Ownership by Quarter for Heritage Commerce Corp (NASDAQ:HTBK)

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