Heritage Commerce Corp $HTBK Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. lessened its stake in shares of Heritage Commerce Corp (NASDAQ:HTBK) by 85.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 61,453 shares of the financial services provider’s stock after selling 355,676 shares during the quarter. Assenagon Asset Management S.A. owned about 0.10% of Heritage Commerce worth $767,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Rhino Investment Partners Inc boosted its holdings in shares of Heritage Commerce by 29.9% in the third quarter. Rhino Investment Partners Inc now owns 795,180 shares of the financial services provider’s stock valued at $7,896,000 after acquiring an additional 183,005 shares during the period. Maltese Capital Management LLC increased its holdings in shares of Heritage Commerce by 32.2% in the 3rd quarter. Maltese Capital Management LLC now owns 251,175 shares of the financial services provider’s stock valued at $2,494,000 after acquiring an additional 61,175 shares during the period. Jacobs Asset Management LLC purchased a new stake in Heritage Commerce in the 4th quarter valued at $2,402,000. Rafferty Asset Management LLC raised its position in Heritage Commerce by 92.3% in the 3rd quarter. Rafferty Asset Management LLC now owns 90,017 shares of the financial services provider’s stock valued at $894,000 after purchasing an additional 43,212 shares during the last quarter. Finally, Versor Investments LP boosted its stake in Heritage Commerce by 904.2% during the 4th quarter. Versor Investments LP now owns 740,090 shares of the financial services provider’s stock worth $8,888,000 after purchasing an additional 666,390 shares during the period. Institutional investors and hedge funds own 75.55% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Weiss Ratings upgraded Heritage Commerce from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 9th. Zacks Research downgraded 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $13.12.

Heritage Commerce Price Performance

Shares of NASDAQ:HTBK opened at $13.45 on Friday. The firm has a market capitalization of $828.43 million, a price-to-earnings ratio of 17.24 and a beta of 0.69. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.74 and a quick ratio of 0.74. The business’s 50 day simple moving average is $13.45 and its 200-day simple moving average is $12.97. Heritage Commerce Corp has a 12 month low of $8.73 and a 12 month high of $13.82.

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.