Transmarket Holdings LP Takes Position in Heritage Commerce Corp $HTBK

Transmarket Holdings LP bought a new stake in shares of Heritage Commerce Corp (NASDAQ:HTBK) during the 1st quarter, HoldingsChannel.com reports. The fund bought 47,152 shares of the financial services provider’s stock, valued at approximately $588,000. Heritage Commerce accounts for about 0.3% of Transmarket Holdings LP’s holdings, making the stock its 28th biggest position.

A number of other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in 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 valued at $39,191,000 after buying an additional 390,978 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Heritage Commerce by 3.7% in the first quarter. Dimensional Fund Advisors LP now owns 3,395,041 shares of the financial services provider’s stock worth $42,369,000 after buying an additional 121,899 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Heritage Commerce by 2.4% in the third quarter. JPMorgan Chase & Co. now owns 1,883,705 shares of the financial services provider’s stock worth $18,705,000 after buying an additional 44,948 shares during the period. Boston Partners lifted its stake 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 acquiring an additional 574,070 shares during the last quarter. Finally, First Trust Capital Management L.P. bought a new stake in shares of Heritage Commerce in the 4th quarter valued at about $18,616,000. Hedge funds and other institutional investors own 75.55% of the company’s stock.

Heritage Commerce Stock Performance

NASDAQ:HTBK opened at $13.45 on Wednesday. The company has a fifty day moving average of $13.45 and a 200 day moving average of $13.08. Heritage Commerce Corp has a 52 week low of $8.73 and a 52 week high of $13.82. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $828.43 million, a P/E ratio of 17.24 and a beta of 0.69.

Analysts Set New Price Targets

Separately, Zacks Research cut 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 assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $13.12.

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.