Heritage Commerce Corp $HTBK Shares Bought by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors increased its Heritage Commerce stake by 3.7% in the first quarter, adding 121,899 shares to own 3.40 million shares, or 5.51% of HTBK, valued at approximately $42.4 million.
• Other institutional investors also accumulated shares, and institutional investors and hedge funds collectively own 75.55% of Heritage Commerce.
• HTBK was trading at $13.45, near its 52-week high of $13.82. Analysts maintain a consensus “Hold” rating with a $13.12 price target after Zacks Research downgraded the stock from “strong buy” to “hold.”

Dimensional Fund Advisors LP raised its stake in Heritage Commerce Corp (NASDAQ:HTBK - Free Report) by 3.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,395,041 shares of the financial services provider's stock after purchasing an additional 121,899 shares during the quarter. Dimensional Fund Advisors LP owned 5.51% of Heritage Commerce worth $42,369,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. First Trust Capital Management L.P. acquired a new stake in shares of Heritage Commerce during the fourth quarter worth $18,616,000. Balyasny Asset Management L.P. purchased a new position in Heritage Commerce in the 4th quarter valued at $15,627,000. Versor Investments LP increased its stake in Heritage Commerce by 904.2% in the 4th quarter. Versor Investments LP now owns 740,090 shares of the financial services provider's stock valued at $8,888,000 after buying an additional 666,390 shares during the period. ABC Arbitrage SA acquired a new position in Heritage Commerce in the 4th quarter valued at $6,975,000. Finally, Boston Partners raised its position in Heritage Commerce by 52.1% during the 3rd 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 during the last quarter. Institutional investors and hedge funds own 75.55% of the company's stock.

Heritage Commerce Stock Performance

HTBK opened at $13.45 on Tuesday. The stock has a market cap of $828.43 million, a P/E 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 stock's 50 day simple moving average is $13.45 and its 200 day simple moving average is $13.15. Heritage Commerce Corp has a 1-year low of $8.73 and a 1-year high of $13.82.

Wall Street Analyst Weigh In

Separately, Zacks Research cut shares of Heritage Commerce from a "strong-buy" rating to a "hold" rating in a research note 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. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $13.12.

Heritage Commerce 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.

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