Heritage Commerce Corp $HTBK Shares Bought by SummitTX Capital L.P.

SummitTX Capital L.P. grew its stake in shares of Heritage Commerce Corp (NASDAQ:HTBK) by 15.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 580,179 shares of the financial services provider’s stock after purchasing an additional 75,973 shares during the quarter. SummitTX Capital L.P.’s holdings in Heritage Commerce were worth $7,241,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of HTBK. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Heritage Commerce by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,402 shares of the financial services provider’s stock valued at $337,000 after purchasing an additional 1,482 shares during the period. Empowered Funds LLC increased its position in Heritage Commerce by 8.5% during the first quarter. Empowered Funds LLC now owns 171,866 shares of the financial services provider’s stock worth $1,636,000 after buying an additional 13,519 shares during the period. Jane Street Group LLC lifted its stake in Heritage Commerce by 158.2% in the first quarter. Jane Street Group LLC now owns 144,919 shares of the financial services provider’s stock valued at $1,380,000 after buying an additional 88,801 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Heritage Commerce in the first quarter valued at approximately $316,000. Finally, Rhumbline Advisers grew its position in shares of Heritage Commerce by 19.9% during the second quarter. Rhumbline Advisers now owns 109,442 shares of the financial services provider’s stock worth $1,087,000 after acquiring an additional 18,150 shares during the last quarter. Hedge funds and other institutional investors own 75.55% of the company’s stock.

Analyst Ratings Changes

Separately, Zacks Research cut shares of Heritage Commerce from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 9th. Two analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $13.12.

Heritage Commerce Stock Performance

NASDAQ HTBK opened at $13.45 on Monday. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.06. Heritage Commerce Corp has a 52-week low of $8.73 and a 52-week high of $13.82. The business’s 50-day moving average price is $13.45 and its 200 day moving average price is $13.11. The firm has a market cap of $828.43 million, a P/E ratio of 17.24 and a beta of 0.69.

About Heritage Commerce

Heritage Commerce Corporation, headquartered in Farmington Hills, Michigan, is the bank holding company for Heritage Bank, N.A., a community-oriented financial institution. Traded on NASDAQ under the symbol HTBK, the company focuses on delivering tailored banking services to businesses, professionals and individuals throughout Southeastern Michigan.

Heritage Bank, N.A. offers a comprehensive portfolio of deposit and lending products designed to meet the needs of commercial and consumer clients.