Boston Partners Grows Stock Position in Heritage Commerce Corp $HTBK

Core Insights - Boston Partners increased its stake in Heritage Commerce Corp by 2.1% in Q2, owning 1,102,707 shares valued at $10,818,000, representing 1.79% of the company [2] - Other institutional investors also increased their positions, with notable increases from MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. (4.4%), SummerHaven Investment Management LLC (1.8%), PNC Financial Services Group Inc. (143.5%), and US Bancorp DE (66.7%) [3] - 75.55% of Heritage Commerce's stock is owned by institutional investors and hedge funds [3] Financial Performance - Heritage Commerce reported earnings of $0.24 per share and revenue of $50.01 million for the latest quarter, with a net margin of 16.31% and return on equity of 7.20% [5] - The company announced a quarterly dividend of $0.13, translating to an annualized dividend of $0.52 and a dividend yield of 4.8%, with a payout ratio of 74.29% [6] Stock Performance and Analyst Ratings - Heritage Commerce's stock opened at $10.90, with a market cap of $668 million, a price-to-earnings ratio of 15.57, and a beta of 0.89 [4] - Analysts have issued various ratings, with Stephens and Piper Sandler raising their price targets to $12.00, while DA Davidson set a target of $12.50, and Zacks upgraded the stock to a "strong-buy" rating [7] - The consensus rating for Heritage Commerce is "Buy" with a target price of $11.50 [7] Company Overview - Heritage Commerce Corp operates as a bank holding company for Heritage Bank of Commerce, providing commercial and personal banking services in California, including various deposit products [9]