Heritage Commerce Corp $HTBK Shares Sold by Renaissance Technologies LLC

Key Points

• Renaissance Technologies reduced its Heritage Commerce position by 16.1% in the first quarter, selling 74,700 shares and retaining 390,000 shares valued at approximately $4.87 million.
• Institutional investors and hedge funds own 75.55% of Heritage Commerce, with several firms—including PNC Financial and Larson Financial Group—adding to their positions recently.
• Analyst sentiment is mostly neutral: Zacks Research downgraded the stock to “hold,” while the overall consensus remains “Hold” with an average price target of $13.12. HTBK opened at $13.45, near its 12-month high of $13.82.

Renaissance Technologies LLC reduced its position in Heritage Commerce Corp (NASDAQ:HTBK - Free Report) by 16.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 390,000 shares of the financial services provider's stock after selling 74,700 shares during the period. Renaissance Technologies LLC owned about 0.63% of Heritage Commerce worth $4,867,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. CANADA LIFE ASSURANCE Co grew its holdings in Heritage Commerce by 8.1% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 12,181 shares of the financial services provider's stock valued at $146,000 after purchasing an additional 913 shares during the last quarter. PNC Financial Services Group Inc. raised its stake 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 worth $59,000 after buying an additional 1,405 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Heritage Commerce by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,402 shares of the financial services provider's stock worth $337,000 after buying an additional 1,482 shares in the last quarter. Mariner LLC boosted its position in shares of Heritage Commerce by 2.6% in the 3rd quarter. Mariner LLC now owns 68,844 shares of the financial services provider's stock worth $684,000 after buying an additional 1,730 shares in the last quarter. Finally, Larson Financial Group LLC grew its stake in Heritage Commerce by 31.0% in the 4th quarter. Larson Financial Group LLC now owns 7,365 shares of the financial services provider's stock valued at $88,000 after acquiring an additional 1,745 shares during the last quarter. 75.55% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Zacks Research downgraded shares of Heritage Commerce from a "strong-buy" rating to a "hold" rating in a 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 stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $13.12.

Heritage Commerce Stock Performance

Shares of NASDAQ HTBK opened at $13.45 on Friday. The company has a 50-day simple moving average of $13.45 and a 200-day simple moving average of $13.17. 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 company has a market cap of $828.43 million, a PE ratio of 17.24 and a beta of 0.69. Heritage Commerce Corp has a 12 month low of $8.73 and a 12 month 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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