BlackRock Amends Heritage Commerce Corp Stake to 5.9%
Ticker: HTBK · Form: SC 13G/A · Filed: Jan 23, 2024 · CIK: 1053352
| Field | Detail |
|---|---|
| Company | Heritage Commerce Corp (HTBK) |
| Form Type | SC 13G/A |
| Filed Date | Jan 23, 2024 |
| Risk Level | low |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, amendment, passive-investment
TL;DR
**BlackRock still owns 5.9% of Heritage Commerce Corp, signaling continued institutional confidence.**
AI Summary
BlackRock, Inc. filed an amended SC 13G/A on January 23, 2024, disclosing its ownership in Heritage Commerce Corp (NASDAQ: HTBK) as of December 31, 2023. This filing indicates BlackRock's passive investment in the company, holding 3,091,895 shares, which represents 5.9% of the outstanding Common Stock. This matters to investors because BlackRock, a major institutional investor, maintains a significant stake, signaling continued confidence in the company's long-term prospects, even with a slight reduction from previous filings.
Why It Matters
This filing shows BlackRock's current significant, but passive, ownership in Heritage Commerce Corp, which can influence investor perception and stock stability.
Risk Assessment
Risk Level: low — The filing indicates a passive investment by a large institutional investor, which generally reduces volatility and risk.
Analyst Insight
Investors should note BlackRock's continued, albeit passive, institutional support for Heritage Commerce Corp, which could be a positive long-term signal, but should also monitor for any future changes in ownership percentage.
Key Numbers
- 3,091,895 — Shares Owned (BlackRock's total beneficial ownership in Heritage Commerce Corp.)
- 5.9% — Ownership Percentage (BlackRock's stake in Heritage Commerce Corp's Common Stock.)
- December 31, 2023 — Reporting Date (The date as of which BlackRock's ownership is reported.)
Key Players & Entities
- BlackRock, Inc. (company) — reporting person and institutional investor
- Heritage Commerce Corp (company) — subject company, a state commercial bank
- 3,091,895 (dollar_amount) — number of shares of Common Stock beneficially owned by BlackRock
- 5.9% (dollar_amount) — percentage of the class of Common Stock beneficially owned by BlackRock
- December 31, 2023 (date) — date of the event requiring the filing
- January 23, 2024 (date) — filing date of the SC 13G/A
Forward-Looking Statements
- BlackRock will maintain a significant, passive stake in Heritage Commerce Corp. (BlackRock, Inc.) — medium confidence, target: December 31, 2024
FAQ
What is the purpose of this SC 13G/A filing by BlackRock, Inc. regarding Heritage Commerce Corp?
This SC 13G/A filing is an amendment (Amendment No: 1) by BlackRock, Inc. to report its beneficial ownership of Common Stock in Heritage Commerce Corp as of December 31, 2023, in accordance with Rule 13d-1(b) of the Securities Exchange Act of 1934.
How many shares of Heritage Commerce Corp Common Stock does BlackRock, Inc. beneficially own according to this filing?
BlackRock, Inc. beneficially owns 3,091,895 shares of Heritage Commerce Corp Common Stock, as stated on the cover page of the filing.
What percentage of Heritage Commerce Corp's Common Stock does BlackRock, Inc.'s ownership represent?
BlackRock, Inc.'s beneficial ownership represents 5.9% of the class of Heritage Commerce Corp's Common Stock, as indicated on the cover page of the filing.
What is the CUSIP number for Heritage Commerce Corp's Common Stock mentioned in the filing?
The CUSIP number for Heritage Commerce Corp's Common Stock is 426927109, as listed in the filing.
When was the event date that required BlackRock, Inc. to file this statement?
The date of the event which required the filing of this statement was December 31, 2023, as specified in the filing.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on January 23, 2024 regarding HERITAGE COMMERCE CORP (HTBK).