Heritage Commerce Corp $HTBK Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC lowered its stake in shares of Heritage Commerce Corp (NASDAQ:HTBK) by 16.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 390,000 shares of the financial services provider’s stock after selling 74,700 shares during the quarter. Renaissance Technologies LLC’s holdings in Heritage Commerce were worth $4,867,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Heritage Commerce by 4.4% during 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 during the period. Empowered Funds LLC raised its position in shares of Heritage Commerce by 8.5% in the 1st quarter. Empowered Funds LLC now owns 171,866 shares of the financial services provider’s stock worth $1,636,000 after buying an additional 13,519 shares during the period. Jane Street Group LLC boosted its holdings in Heritage Commerce by 158.2% in the first quarter. Jane Street Group LLC now owns 144,919 shares of the financial services provider’s stock valued at $1,380,000 after acquiring an additional 88,801 shares during the last quarter. Acadian Asset Management LLC acquired a new position in Heritage Commerce in the first quarter valued at $316,000. Finally, Rhumbline Advisers grew its position in Heritage Commerce by 19.9% during the second quarter. Rhumbline Advisers now owns 109,442 shares of the financial services provider’s stock valued at $1,087,000 after acquiring an additional 18,150 shares during the period. 75.55% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Heritage Commerce Stock Performance

NASDAQ:HTBK opened at $13.45 on Friday. The stock has a market cap of $828.43 million, a price-to-earnings ratio of 17.24 and a beta of 0.69. Heritage Commerce Corp has a one year low of $8.73 and a one year high of $13.82. 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 business’s 50-day simple moving average is $13.45 and its 200 day simple 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.