Heritage Commerce Corp $HTBK Shares Acquired by Bank of America Corp DE

Key Points

• Bank of America increased its Heritage Commerce stake by 90.8% in the first quarter, acquiring 100,411 additional shares for a total of 211,015 shares valued at approximately $2.63 million.
• Other institutions also added to their positions, and hedge funds and institutional investors collectively own 75.55% of HTBK shares.
• Heritage Commerce shares opened at $13.45, with a market capitalization of about $828.4 million and a 52-week trading range of $8.73 to $13.82.

Bank of America Corp DE grew its stake in shares of Heritage Commerce Corp (NASDAQ:HTBK - Free Report) by 90.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 211,015 shares of the financial services provider's stock after purchasing an additional 100,411 shares during the period. Bank of America Corp DE owned about 0.34% of Heritage Commerce worth $2,633,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CANADA LIFE ASSURANCE Co grew its holdings in shares of Heritage Commerce by 8.1% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 12,181 shares of the financial services provider's stock valued at $146,000 after buying an additional 913 shares in the last quarter. Royal Bank of Canada grew its stake in Heritage Commerce by 0.8% during the 1st quarter. Royal Bank of Canada now owns 115,742 shares of the financial services provider's stock valued at $1,445,000 after acquiring an additional 921 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Heritage Commerce by 42.1% in the first quarter. PNC Financial Services Group Inc. now owns 4,739 shares of the financial services provider's stock worth $59,000 after purchasing an additional 1,405 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Heritage Commerce by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,402 shares of the financial services provider's stock worth $337,000 after purchasing an additional 1,482 shares in the last quarter. Finally, Mariner LLC boosted its holdings in shares of Heritage Commerce by 2.6% during the third quarter. Mariner LLC now owns 68,844 shares of the financial services provider's stock worth $684,000 after purchasing an additional 1,730 shares during the period. 75.55% of the stock is currently owned by hedge funds and other institutional investors.

Heritage Commerce Stock Performance

Shares of HTBK opened at $13.45 on Tuesday. The company has a market capitalization of $828.43 million, a PE 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's 50 day moving average price is $13.45 and its 200 day moving average price is $13.21. Heritage Commerce Corp has a 52 week low of $8.73 and a 52 week high of $13.82.

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.

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