ABC Arbitrage SA Sells 114,336 Shares of Heritage Commerce Corp $HTBK

ABC Arbitrage SA cut its stake in shares of Heritage Commerce Corp (NASDAQ:HTBK) by 19.7% in the 1st quarter, HoldingsChannel.com reports. The firm owned 466,416 shares of the financial services provider’s stock after selling 114,336 shares during the quarter. Heritage Commerce accounts for 0.8% of ABC Arbitrage SA’s investment portfolio, making the stock its 26th biggest position. ABC Arbitrage SA’s holdings in Heritage Commerce were worth $5,821,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the stock. Clearstead Advisors LLC increased its position in shares of Heritage Commerce by 129.5% during the 4th quarter. Clearstead Advisors LLC now owns 3,599 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 2,031 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings 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 valued at $54,000 after buying an additional 5,370 shares during the last quarter. Globeflex Capital L P acquired a new stake in shares of Heritage Commerce in the 4th quarter valued at approximately $66,000. Larson Financial Group LLC boosted its holdings 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 valued at $56,000 after buying an additional 4,676 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its stake 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 buying an additional 5,061 shares in the last quarter. 75.55% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Heritage Commerce Stock Performance

Shares of HTBK stock opened at $13.45 on Tuesday. The company 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 quick ratio of 0.74 and a current ratio of 0.74. The company has a 50-day simple moving average of $13.45 and a 200 day simple moving average of $13.03. Heritage Commerce Corp has a 52 week low of $8.73 and a 52 week 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.