AlTi Global Inc. Reduces Position in Heritage Commerce Corp $HTBK

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

A number of other hedge funds have also modified their holdings of the business. Clearstead Advisors LLC raised its holdings 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 valued at $43,000 after acquiring an additional 2,031 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Heritage Commerce by 16,272.7% in the second quarter. EverSource Wealth Advisors LLC now owns 5,403 shares of the financial services provider’s stock valued at $54,000 after purchasing an additional 5,370 shares in the last quarter. Larson Financial Group LLC increased its holdings in shares of Heritage Commerce by 495.3% in the third quarter. Larson Financial Group LLC now owns 5,620 shares of the financial services provider’s stock valued at $56,000 after purchasing an additional 4,676 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Heritage Commerce by 368.9% in the third quarter. Russell Investments Group Ltd. now owns 6,433 shares of the financial services provider’s stock valued at $64,000 after purchasing an additional 5,061 shares during the last quarter. Finally, Globeflex Capital L P acquired a new stake in shares of Heritage Commerce in the fourth quarter valued at approximately $66,000. 75.55% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Heritage Commerce Stock Performance

HTBK opened at $13.45 on Monday. Heritage Commerce Corp has a one year low of $8.73 and a one year high of $13.82. The stock has a market capitalization of $828.43 million, a PE ratio of 17.24 and a beta of 0.69. The business’s 50 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.

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.