Palouse Capital Management Inc. Sells 1671 Shares of Heritage Commerce Corp (HTBK)

Paterniano Del Favero
Agosto 14, 2017

Granite Investment Partners LLC owned 0.27% of Heritage Commerce Corp at the end of the most recent quarter. The institutional investor owned 580,200 shares of the financial services provider's stock after selling 100,800 shares during the period. Strs Ohio now owns 32,000 shares of the financial services provider's stock valued at $792,000 after buying an additional 9,700 shares in the last quarter. Boston Partners increased its stake in shares of Heritage Financial Corporation by 2.2% in the first quarter. The value of the investment in Heritage Financial Corporation increased from $3,427,000 to $3,823,000 a change of $396,000 quarter over quarter. State Street Corp now owns 576,051 shares of the financial services provider's stock valued at $14,832,000 after buying an additional 73,531 shares during the last quarter. State Board of Administration of Florida Retirement System increased its stake in shares of Heritage Financial Corporation by 21.4% in the first quarter. Vanguard Group Inc. now owns 1,215,131 shares of the financial services provider's stock valued at $30,074,000 after buying an additional 69,982 shares during the last quarter. The value of the total investment in Heritage Financial Corporation increased from $4,667,000 to $4,995,000 a change of $328,000 for the reporting period. Heritage Commerce Corp has a one year low of $10.23 and a one year high of $14.87. The company has a 50 day moving average of $26.30 and a 200 day moving average of $25.23. The firm has a market cap of $788.53 million, a P/E ratio of 18.93 and a beta of 0.48.

Heritage Financial Corporation (NASDAQ:HFWA) last issued its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, beating the Thomson Reuters' consensus estimate of $0.32 by $0.07. The business had revenue of $27.23 million during the quarter, compared to analyst estimates of $27.90 million. Heritage Commerce Corp had a return on equity of 10.61% and a net margin of 25.75%. Next quarter's EPS is expected be $0.36 and the next full year EPS is anticipated to be $1.55.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 24th. Shareholders of record on Thursday, August 10th will be issued a dividend of $0.13 per share. The ex-dividend date of this dividend is Tuesday, August 8th. This represents a $0.40 annualized dividend and a yield of 2.99%. Heritage Financial Corporation's dividend payout ratio (DPR) is presently 37.14%.

Shares of Heritage Commerce Corp (NASDAQ:HTBK) opened at 13.19 on Tuesday. If you are accessing this story on another website, it was illegally stolen and republished in violation of U.S. & global copyright and trademark law. The original version of this news story can be viewed at https://www.themarketsdaily.com/2017/08/13/heritage-financial-corporation-nasdaqhfwa-shares-sold-by-rice-hall-james-associates-llc.html.

A number of equities analysts recently weighed in on the stock. Brean Capital set a $16.00 price objective on shares of Heritage Commerce Corp and gave the company a "buy" rating in a research note on Friday, April 28th. Finally, BidaskClub lowered shares of Heritage Commerce Corp from a "hold" rating to a "sell" rating in a research note on Friday, July 28th. Finally, ValuEngine upgraded Heritage Commerce Corp from a "hold" rating to a "buy" rating in a report on Tuesday, July 11th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. Heritage Financial Corporation has an average rating of "Hold" and an average price target of $27.33. The stock was sold at an average price of $27.28, for a total transaction of $54,560.00. Renaissance Technologies LLC now owns 681,000 shares of the financial services provider's stock worth $9,827,000 after buying an additional 386,400 shares during the last quarter.

Other hedge funds have also added to or reduced their stakes in the company.

According to Zacks, "Heritage Financial Corporation, Inc.is a bank holding company". The Company is engaged in the business of planning, directing and coordinating the business activities of its bank subsidiary, Heritage Bank (the Bank). The Bank's lending activities focus on commercial business lending. The Bank also makes real estate construction loans, land development loans and consumer loans, and originates first mortgage loans on residential properties primarily located in its market area.

Several hedge funds have recently modified their holdings of HFWA.

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