Endeavour Capital Advisors Inc. Decreases Stake in Heritage Commerce Corp (NASDAQ:HTBK)

Endeavour Capital Advisors Inc. lessened its stake in shares of Heritage Commerce Corp (NASDAQ:HTBK) by 4.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 595,546 shares of the financial services provider’s stock after selling 26,142 shares during the period. Heritage Commerce makes up about 1.8% of Endeavour Capital Advisors Inc.’s portfolio, making the stock its 17th biggest position. Endeavour Capital Advisors Inc.’s holdings in Heritage Commerce were worth $5,586,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the stock. Wellington Management Group LLP lifted its stake in shares of Heritage Commerce by 13.2% during the fourth quarter. Wellington Management Group LLP now owns 2,302,615 shares of the financial services provider’s stock worth $21,599,000 after buying an additional 268,900 shares during the period. State Street Corp lifted its position in Heritage Commerce by 3.2% during the 3rd quarter. State Street Corp now owns 1,965,643 shares of the financial services provider’s stock worth $19,421,000 after acquiring an additional 61,630 shares during the period. Boston Partners grew its stake in Heritage Commerce by 1.7% during the 4th quarter. Boston Partners now owns 1,564,741 shares of the financial services provider’s stock valued at $14,620,000 after purchasing an additional 26,442 shares during the last quarter. Geode Capital Management LLC grew its stake in Heritage Commerce by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 1,426,816 shares of the financial services provider’s stock valued at $13,386,000 after purchasing an additional 4,756 shares during the last quarter. Finally, American Century Companies Inc. increased its holdings in shares of Heritage Commerce by 3.4% in the fourth quarter. American Century Companies Inc. now owns 1,129,910 shares of the financial services provider’s stock valued at $10,599,000 after purchasing an additional 36,821 shares during the period. Institutional investors and hedge funds own 75.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on HTBK shares. Stephens raised Heritage Commerce from a “hold” rating to a “strong-buy” rating in a report on Monday, March 3rd. Keefe, Bruyette & Woods dropped their price objective on shares of Heritage Commerce from $12.50 to $11.50 and set an “outperform” rating on the stock in a report on Friday, January 24th. Finally, StockNews.com upgraded shares of Heritage Commerce from a “sell” rating to a “hold” rating in a research note on Wednesday, December 4th.

Insiders Place Their Bets

In other news, Director Jack W. Conner sold 4,000 shares of the stock in a transaction that occurred 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 in the company, valued at $1,141,546.24. This trade represents a 3.56 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Robertson Clay Jones, Jr. sold 5,145 shares of the business’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $9.73, for a total transaction of $50,060.85. Following the completion of the sale, the chief executive officer now directly owns 254,227 shares of the company’s stock, valued at approximately $2,473,628.71. The trade was a 1.98 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,747 shares of company stock worth $107,728. 3.99% of the stock is owned by corporate insiders.

Heritage Commerce Price Performance

Shares of NASDAQ HTBK opened at $9.46 on Wednesday. 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 $581.25 million, a price-to-earnings ratio of 14.33 and a beta of 0.92. The firm’s 50 day simple moving average is $9.97 and its 200-day simple moving average is $9.93. Heritage Commerce Corp has a 12 month low of $7.66 and a 12 month high of $11.27.

Heritage Commerce (NASDAQ:HTBK) last released its quarterly earnings results on Thursday, January 23rd. The financial services provider reported $0.17 EPS for the quarter, meeting the consensus estimate of $0.17. Heritage Commerce had a net margin of 16.12% and a return on equity of 5.96%. Analysts expect that Heritage Commerce Corp will post 0.8 EPS for the current year.

Heritage Commerce Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Thursday, February 6th were issued a $0.13 dividend. The ex-dividend date of this dividend was Thursday, February 6th. This represents a $0.52 dividend on an annualized basis and a yield of 5.50%. Heritage Commerce’s payout ratio is 78.79%.

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.