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

SummitTX Capital L.P. increased 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 SEC. The institutional investor owned 580,179 shares of the financial services provider’s stock after buying an additional 75,973 shares during the quarter. SummitTX Capital L.P. owned about 0.94% of Heritage Commerce worth $7,241,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in HTBK. Clearstead Advisors LLC raised its stake in Heritage Commerce by 129.5% during the fourth quarter. Clearstead Advisors LLC now owns 3,599 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 2,031 shares during the period. EverSource Wealth Advisors LLC raised its holdings in Heritage Commerce by 16,272.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,403 shares of the financial services provider’s stock valued at $54,000 after buying an additional 5,370 shares during the period. Larson Financial Group LLC raised its holdings in Heritage Commerce by 495.3% in the 3rd quarter. Larson Financial Group LLC now owns 5,620 shares of the financial services provider’s stock valued at $56,000 after buying an additional 4,676 shares during the period. PNC Financial Services Group Inc. lifted its position in Heritage Commerce by 42.1% in the first quarter. PNC Financial Services Group Inc. now owns 4,739 shares of the financial services provider’s stock valued at $59,000 after buying an additional 1,405 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its position in Heritage Commerce by 368.9% in the third quarter. Russell Investments Group Ltd. now owns 6,433 shares of the financial services provider’s stock valued at $64,000 after buying an additional 5,061 shares during the last quarter. Institutional investors and hedge funds own 75.55% of the company’s stock.

Analysts Set New Price Targets

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

Heritage Commerce Stock Performance

NASDAQ HTBK opened at $13.45 on Monday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.74 and a current ratio of 0.74. The firm has a market cap of $828.43 million, a price-to-earnings ratio of 17.24 and a beta of 0.69. The firm has a 50 day simple moving average of $13.45 and a 200-day simple moving average of $13.11. Heritage Commerce Corp has a one year low of $8.73 and a one year high of $13.82.

Heritage Commerce Company 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.