Heritage Commerce Corp (HTBK) Shares Bought by Russell Investments Group Ltd.

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Russell Investments Group Ltd. boosted its holdings in Heritage Commerce Corp (NASDAQ:HTBK) by 18.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 250,333 shares of the financial services provider’s stock after acquiring an additional 39,398 shares during the quarter. Russell Investments Group Ltd. owned about 0.62% of Heritage Commerce worth $4,125,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in HTBK. BlackRock Inc. grew its holdings in Heritage Commerce by 3.6% in the first quarter. BlackRock Inc. now owns 3,002,983 shares of the financial services provider’s stock valued at $49,490,000 after purchasing an additional 104,434 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Heritage Commerce by 7.5% in the first quarter. Dimensional Fund Advisors LP now owns 1,872,521 shares of the financial services provider’s stock valued at $30,859,000 after purchasing an additional 131,054 shares during the last quarter. Thrivent Financial for Lutherans grew its holdings in Heritage Commerce by 68.5% in the first quarter. Thrivent Financial for Lutherans now owns 1,209,891 shares of the financial services provider’s stock valued at $19,939,000 after purchasing an additional 491,653 shares during the last quarter. Thrivent Financial For Lutherans grew its holdings in Heritage Commerce by 2.3% in the fourth quarter. Thrivent Financial For Lutherans now owns 718,238 shares of the financial services provider’s stock valued at $11,003,000 after purchasing an additional 16,428 shares during the last quarter. Finally, Millennium Management LLC grew its holdings in Heritage Commerce by 237.4% in the fourth quarter. Millennium Management LLC now owns 613,489 shares of the financial services provider’s stock valued at $9,399,000 after purchasing an additional 431,652 shares during the last quarter. Hedge funds and other institutional investors own 69.11% of the company’s stock.

HTBK opened at $16.99 on Friday. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.14. The firm has a market cap of $685.53 million, a P/E ratio of 19.85, a P/E/G ratio of 1.56 and a beta of 0.60. Heritage Commerce Corp has a 52 week low of $12.76 and a 52 week high of $18.10.

Heritage Commerce (NASDAQ:HTBK) last posted its quarterly earnings data on Thursday, April 26th. The financial services provider reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.01). The company had revenue of $28.54 million for the quarter, compared to analyst estimates of $29.45 million. Heritage Commerce had a net margin of 21.93% and a return on equity of 12.22%. equities analysts predict that Heritage Commerce Corp will post 1.1 earnings per share for the current fiscal year.

Several analysts have weighed in on the company. BidaskClub lowered Heritage Commerce from a “buy” rating to a “hold” rating in a report on Saturday, April 14th. Brean Capital reissued a “buy” rating on shares of Heritage Commerce in a report on Monday, April 16th. DA Davidson upped their target price on Heritage Commerce from $17.50 to $19.00 and gave the company a “buy” rating in a report on Monday, April 30th. Zacks Investment Research lowered Heritage Commerce from a “buy” rating to a “hold” rating in a report on Thursday, May 3rd. Finally, ValuEngine lowered Heritage Commerce from a “buy” rating to a “hold” rating in a report on Wednesday, April 18th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $18.50.

In related news, COO Keith Wilton sold 3,500 shares of the stock in a transaction on Friday, May 25th. The stock was sold at an average price of $17.02, for a total transaction of $59,570.00. Following the sale, the chief operating officer now owns 99,707 shares of the company’s stock, valued at $1,697,013.14. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Jack W. Conner sold 23,000 shares of the stock in a transaction on Thursday, May 10th. The shares were sold at an average price of $16.98, for a total value of $390,540.00. Following the sale, the director now directly owns 61,812 shares in the company, valued at approximately $1,049,567.76. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 32,500 shares of company stock worth $552,110. Corporate insiders own 5.40% of the company’s stock.

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. It offers a range of deposit products for business banking and retail markets, including interest and non-interest bearing demand, savings accounts, certificate of deposit, money market accounts, and time deposits.

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

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