Jacobs Asset Management LLC Makes New $2.40 Million Investment in Heritage Commerce Corp $HTBK

Jacobs Asset Management LLC acquired a new position in shares of Heritage Commerce Corp (NASDAQ:HTBK) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 200,000 shares of the financial services provider’s stock, valued at approximately $2,402,000. Heritage Commerce comprises approximately 1.3% of Jacobs Asset Management LLC’s holdings, making the stock its 26th largest position. Jacobs Asset Management LLC owned approximately 0.32% of Heritage Commerce as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Clearstead Advisors LLC grew its stake in shares of Heritage Commerce by 129.5% in the 4th quarter. Clearstead Advisors LLC now owns 3,599 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 2,031 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of 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 worth $54,000 after acquiring an additional 5,370 shares in the last quarter. Globeflex Capital L P bought a new stake in shares of Heritage Commerce in the 4th quarter worth $66,000. Larson Financial Group LLC grew its stake in shares of 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 worth $56,000 after acquiring an additional 4,676 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its stake in shares of Heritage Commerce by 368.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 6,433 shares of the financial services provider’s stock worth $64,000 after acquiring an additional 5,061 shares in the last quarter. Institutional investors own 75.55% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on HTBK. Weiss Ratings upgraded shares of Heritage Commerce from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 9th. Zacks Research lowered shares of Heritage Commerce from a “strong-buy” rating to a “hold” rating in a research report 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 MarketBeat, the company currently has an average rating of “Hold” and an average price target of $13.13.

Heritage Commerce Price Performance

NASDAQ HTBK opened at $13.45 on Friday. The company has a market cap of $828.43 million, a PE ratio of 17.24 and a beta of 0.69. Heritage Commerce Corp has a 52 week low of $8.73 and a 52 week high of $13.83. 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’s 50-day simple moving average is $13.37 and its two-hundred day simple moving average is $12.76.

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.