128,044 Shares in Heritage Commerce Corp $HTBK Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. acquired a new position in shares of Heritage Commerce Corp (NASDAQ:HTBK) in the 1st quarter, Holdings Channel reports. The fund acquired 128,044 shares of the financial services provider’s stock, valued at approximately $1,598,000.

Other institutional investors also recently modified their holdings of the company. Clearstead Advisors LLC grew its stake in 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 buying an additional 2,031 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Heritage Commerce by 16,272.7% during 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 in the last quarter. Larson Financial Group LLC raised its position in shares of Heritage Commerce by 495.3% during 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 in the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Heritage Commerce by 368.9% during 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 during the last quarter. Finally, Globeflex Capital L P bought a new stake in shares of Heritage Commerce during the 4th quarter worth $66,000. 75.55% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Heritage Commerce Price Performance

Shares of NASDAQ HTBK opened at $13.45 on Friday. The firm has a fifty day simple moving average of $13.45 and a two-hundred day simple moving average of $13.13. Heritage Commerce Corp has a 12 month low of $8.73 and a 12 month high of $13.82. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $828.43 million, a PE ratio of 17.24 and a beta of 0.69.

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.