Heritage Commerce Corp $HTBK Shares Sold by Empowered Funds LLC

Key Points

• Empowered Funds LLC cut its Heritage Commerce (HTBK) stake by 49.6% in the first quarter, selling 116,705 shares and retaining 118,810 shares valued at approximately $1.48 million.
• Other institutional investors increased their positions, and institutional investors collectively own 75.55% of HTBK’s outstanding shares.
• HTBK opened at $13.45, near its 52-week high of $13.82, with a market capitalization of about $828 million and a price-to-earnings ratio of 17.24.

Empowered Funds LLC decreased its holdings in Heritage Commerce Corp (NASDAQ:HTBK - Free Report) by 49.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 118,810 shares of the financial services provider's stock after selling 116,705 shares during the quarter. Empowered Funds LLC owned about 0.19% of Heritage Commerce worth $1,483,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of HTBK. Clearstead Advisors LLC increased its holdings in shares of Heritage Commerce by 129.5% in the 4th quarter. Clearstead Advisors LLC now owns 3,599 shares of the financial services provider's stock valued at $43,000 after purchasing an additional 2,031 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in Heritage Commerce by 16,272.7% in the second 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 in the last quarter. Larson Financial Group LLC lifted its position in shares of Heritage Commerce by 495.3% during the 3rd quarter. Larson Financial Group LLC now owns 5,620 shares of the financial services provider's stock valued at $56,000 after acquiring an additional 4,676 shares during the period. PNC Financial Services Group Inc. lifted its position in shares of Heritage Commerce by 42.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,739 shares of the financial services provider's stock valued at $59,000 after acquiring an additional 1,405 shares during the period. Finally, Russell Investments Group Ltd. boosted its position in Heritage Commerce by 368.9% during the third quarter. Russell Investments Group Ltd. now owns 6,433 shares of the financial services provider's stock worth $64,000 after purchasing an additional 5,061 shares in the last quarter. Institutional investors and hedge funds own 75.55% of the company's stock.

Heritage Commerce Price Performance

Heritage Commerce stock opened at $13.45 on Friday. 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 firm has a market capitalization of $828.43 million, a price-to-earnings ratio of 17.24 and a beta of 0.69. Heritage Commerce Corp has a fifty-two week low of $8.73 and a fifty-two week high of $13.82. The stock's fifty day moving average is $13.45 and its two-hundred day moving average is $13.17.

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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