Heritage Commerce Corp $HTBK Shares Sold by AlTi Global Inc.

AlTi Global Inc. cut its holdings in shares of Heritage Commerce Corp (NASDAQ:HTBK) by 8.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 561,671 shares of the financial services provider’s stock after selling 50,000 shares during the period. AlTi Global Inc. owned about 0.91% of Heritage Commerce worth $7,083,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Heritage Commerce by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,402 shares of the financial services provider’s stock worth $337,000 after acquiring an additional 1,482 shares during the period. Empowered Funds LLC lifted its holdings in Heritage Commerce by 8.5% in the first quarter. Empowered Funds LLC now owns 171,866 shares of the financial services provider’s stock valued at $1,636,000 after acquiring an additional 13,519 shares during the period. Jane Street Group LLC boosted its position in Heritage Commerce by 158.2% in the 1st quarter. Jane Street Group LLC now owns 144,919 shares of the financial services provider’s stock worth $1,380,000 after purchasing an additional 88,801 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in Heritage Commerce in the 1st quarter worth approximately $316,000. Finally, Rhumbline Advisers grew its stake in shares of Heritage Commerce by 19.9% during the 2nd quarter. Rhumbline Advisers now owns 109,442 shares of the financial services provider’s stock worth $1,087,000 after purchasing an additional 18,150 shares during the period. 75.55% of the stock is currently owned by institutional investors and hedge funds.

Heritage Commerce Price Performance

Heritage Commerce stock opened at $13.45 on Monday. The stock has a market capitalization of $828.43 million, a P/E ratio of 17.24 and a beta of 0.69. The company’s fifty day moving average price is $13.45 and its 200 day moving average price is $13.06. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.74 and a current ratio of 0.74. Heritage Commerce Corp has a 1 year low of $8.73 and a 1 year high of $13.82.

Wall Street Analyst Weigh In

Separately, Zacks Research downgraded shares of Heritage Commerce from a “strong-buy” rating to a “hold” rating in a 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, Heritage Commerce currently has a consensus rating of “Hold” and an average target price of $13.12.

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.