Heritage Commerce Corp $HTBK Stake Boosted by Jacobs Asset Management LLC

Jacobs Asset Management LLC boosted its holdings in Heritage Commerce Corp (NASDAQ:HTBK) by 31.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 262,500 shares of the financial services provider’s stock after purchasing an additional 62,500 shares during the quarter. Heritage Commerce makes up about 2.0% of Jacobs Asset Management LLC’s investment portfolio, making the stock its 19th largest holding. Jacobs Asset Management LLC’s holdings in Heritage Commerce were worth $3,276,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Heritage Commerce by 11.0% during the third quarter. Vanguard Group Inc. now owns 3,946,682 shares of the financial services provider’s stock worth $39,191,000 after purchasing an additional 390,978 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Heritage Commerce by 3.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,395,041 shares of the financial services provider’s stock valued at $42,369,000 after buying an additional 121,899 shares during the period. Boston Partners boosted its holdings in shares of Heritage Commerce by 52.1% in the 3rd quarter. Boston Partners now owns 1,676,777 shares of the financial services provider’s stock valued at $16,636,000 after buying an additional 574,070 shares during the period. First Trust Capital Management L.P. bought a new stake in shares of Heritage Commerce during the 4th quarter valued at about $18,616,000. Finally, Goldman Sachs Group Inc. grew its position in shares of Heritage Commerce by 44.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,538,801 shares of the financial services provider’s stock valued at $18,481,000 after buying an additional 473,132 shares during the last quarter. Institutional investors own 75.55% of the company’s stock.

Analysts Set New Price Targets

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 investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, Heritage Commerce presently has an average rating of “Hold” and an average target price of $13.12.

Heritage Commerce Price Performance

Shares of HTBK opened at $13.45 on Friday. Heritage Commerce Corp has a 12 month low of $8.73 and a 12 month high of $13.82. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.74 and a quick ratio of 0.74. The stock has a fifty day moving average price of $13.45 and a 200 day moving average price of $13.10. The company 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.