Heritage Commerce Corp $HTBK Shares Bought by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership increased its holdings in Heritage Commerce Corp (NASDAQ:HTBK) by 134.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,009,756 shares of the financial services provider’s stock after purchasing an additional 579,334 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Heritage Commerce were worth $12,602,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in HTBK. First Trust Capital Management L.P. acquired a new stake in Heritage Commerce during the 4th quarter worth about $18,616,000. Balyasny Asset Management L.P. acquired a new position in shares of Heritage Commerce in the fourth quarter worth about $15,627,000. Versor Investments LP increased its position in shares of Heritage Commerce by 904.2% in the fourth quarter. Versor Investments LP now owns 740,090 shares of the financial services provider’s stock worth $8,888,000 after acquiring an additional 666,390 shares in the last quarter. ABC Arbitrage SA acquired a new stake in shares of Heritage Commerce during the fourth quarter valued at approximately $6,975,000. Finally, Boston Partners raised its holdings in shares of Heritage Commerce by 52.1% during the third quarter. Boston Partners now owns 1,676,777 shares of the financial services provider’s stock valued at $16,636,000 after acquiring an additional 574,070 shares during the period. 75.55% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Heritage Commerce Stock Performance

Shares of NASDAQ HTBK opened at $13.45 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.74 and a quick ratio of 0.74. Heritage Commerce Corp has a one year low of $8.73 and a one year high of $13.82. The business’s 50-day moving average price is $13.45 and its two-hundred day moving average price is $13.14. The company has a market capitalization of $828.43 million, a P/E ratio of 17.24 and a beta of 0.69.

Heritage Commerce Profile

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.