Wellington Management Group LLP Has $21.60 Million Holdings in Heritage Commerce Corp (NASDAQ:HTBK)

Wellington Management Group LLP boosted its holdings in shares of Heritage Commerce Corp (NASDAQ:HTBK) by 13.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,302,615 shares of the financial services provider’s stock after buying an additional 268,900 shares during the quarter. Wellington Management Group LLP’s holdings in Heritage Commerce were worth $21,599,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Princeton Capital Management LLC boosted its stake in shares of Heritage Commerce by 13.3% during the 4th quarter. Princeton Capital Management LLC now owns 17,041 shares of the financial services provider’s stock worth $160,000 after acquiring an additional 2,000 shares in the last quarter. Fox Run Management L.L.C. bought a new stake in Heritage Commerce during the fourth quarter worth approximately $123,000. KLP Kapitalforvaltning AS acquired a new position in Heritage Commerce during the fourth quarter valued at approximately $129,000. Sei Investments Co. raised its position in shares of Heritage Commerce by 90.5% in the fourth quarter. Sei Investments Co. now owns 63,565 shares of the financial services provider’s stock valued at $596,000 after purchasing an additional 30,192 shares during the period. Finally, American Century Companies Inc. lifted its stake 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 worth $10,599,000 after buying an additional 36,821 shares during the last quarter. 75.55% of the stock is currently owned by institutional investors.

Heritage Commerce Trading Down 0.2 %

Shares of HTBK stock opened at $8.45 on Tuesday. The firm has a market capitalization of $519.19 million, a P/E ratio of 12.80 and a beta of 0.81. Heritage Commerce Corp has a 1 year low of $7.66 and a 1 year high of $11.27. The firm’s fifty day simple moving average is $9.92 and its 200 day simple moving average is $9.89. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.06.

Heritage Commerce (NASDAQ:HTBK) last posted its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $0.17 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.17. Heritage Commerce had a net margin of 16.12% and a return on equity of 5.96%. As a group, sell-side analysts predict that Heritage Commerce Corp will post 0.8 EPS for the current year.

Heritage Commerce Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, February 6th were given a $0.13 dividend. The ex-dividend date was Thursday, February 6th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 6.15%. Heritage Commerce’s dividend payout ratio is currently 78.79%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on HTBK. Stephens upgraded shares of Heritage Commerce from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 3rd. Keefe, Bruyette & Woods dropped their price objective on Heritage Commerce from $12.50 to $11.50 and set an “outperform” rating on the stock in a research note on Friday, January 24th.

Insider Transactions at Heritage Commerce

In other news, CEO Robertson Clay Jones, Jr. sold 5,145 shares of the firm’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $9.73, for a total transaction of $50,060.85. Following the completion of the transaction, the chief executive officer now directly owns 254,227 shares of the company’s stock, valued at approximately $2,473,628.71. This trade represents a 1.98 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jack W. Conner sold 4,000 shares of the company’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $10.52, for a total transaction of $42,080.00. Following the completion of the sale, the director now directly owns 108,512 shares in the company, valued at approximately $1,141,546.24. The trade was a 3.56 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 10,747 shares of company stock valued at $107,728. 3.99% of the stock is owned by corporate insiders.

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.