Jacobs Asset Management LLC Invests $2.40 Million in Heritage Commerce Corp $HTBK

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

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Heritage Commerce by 11.0% in the third quarter. Vanguard Group Inc. now owns 3,946,682 shares of the financial services provider’s stock worth $39,191,000 after buying an additional 390,978 shares in the last quarter. JPMorgan Chase & Co. lifted 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 in the last quarter. Boston Partners lifted its holdings in shares of Heritage Commerce by 52.1% in the third quarter. Boston Partners now owns 1,676,777 shares of the financial services provider’s stock worth $16,636,000 after buying an additional 574,070 shares in the last quarter. First Trust Capital Management L.P. purchased a new stake in shares of Heritage Commerce in the fourth quarter worth about $18,616,000. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Heritage Commerce by 44.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,538,801 shares of the financial services provider’s stock worth $18,481,000 after buying an additional 473,132 shares in the last quarter. 75.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on HTBK shares. Zacks Research downgraded shares of Heritage Commerce from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 9th. Weiss Ratings raised shares of Heritage Commerce from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, March 9th. Two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Heritage Commerce has an average rating of “Hold” and an average target price of $13.13.

Heritage Commerce Stock Performance

Shares of HTBK opened at $13.45 on Friday. Heritage Commerce Corp has a 1-year low of $8.73 and a 1-year high of $13.83. 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 firm’s 50 day simple moving average is $13.37 and its 200 day simple moving average is $12.76. The company has a market capitalization of $828.43 million, a P/E ratio of 17.24 and a beta of 0.69.

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.