Period around 1930. Some cards have the NBC mark in the stamp box. HSB cards also include nudes (photos and paintings), women and cats. As Lotte Herrlich's photos include children, nudes and cats it is possible that some of the HSB cards including the example use her photos uncredited. Other publishers use her signature as a photo credit, eg Waldemar Heidt and Knackstedt & Näther.
I have only seen the logo with the shield on the series of cards showing the funeral of the Kaiserin in Potsdam on April 19, 1921. This was a big event though Wilhelm II and the Crown Prince were not allowed to attend from Holland.
There is an illustrator of humorous cards of children with signature HSB (Herbert Schultz, Berlin) which can resemble this logo (i.e. with the S larger) without the enclosing lozenge.