Heritage Commerce Corp maintains stable credit ratings, reflecting its solid liquidity and capital management practices.
Quiver AI Summary
Heritage Commerce Corp announced that Kroll Bond Rating Agency has affirmed its senior unsecured debt rating at BBB+, its subordinated debt rating at BBB, and its short-term debt rating at K2. Additionally, the Bank received an A- rating for its deposit and senior unsecured debt, a BBB+ rating for subordinated debt, and a K2 rating for short-term deposits and debt, with both the Company and the Bank receiving stable outlook ratings. CEO Clay Jones highlighted the importance of the ratings in reflecting the Company’s conservative management of liquidity and capital, which has helped it navigate recent economic uncertainties. Heritage Commerce Corp, established in 1997, is the parent of Heritage Bank of Commerce, which operates multiple branches in California. Further information is available on their website.
Potential Positives
- Kroll Bond Rating Agency affirmed the Company’s senior unsecured debt rating of BBB+, indicating a strong creditworthiness for Heritage Commerce Corp.
- The stable outlook for both the Company and the Bank, as graded by KBRA, suggests a resilient financial position despite recent economic uncertainties.
- The ratings recognition of the Company’s conservative liquidity and capital management reflects a solid operational strategy and effective risk mitigation.
- Positive ratings for the Bank, including an A- for deposit ratings, enhance customer confidence and may attract new clients and investors.
Potential Negatives
- The reaffirmed ratings by KBRA may indicate that the company is struggling to improve its debt ratings, which can create concerns about its financial stability and growth potential.
- The statement emphasizes the uncertain credit and liquidity environment, suggesting potential vulnerabilities in the market that could affect the company's performance.
- The necessity to highlight "disciplined and conservative approach" could imply past financial challenges or issues that required a more cautious strategy moving forward.
FAQ
What did KBRA affirm for Heritage Commerce Corp's debt ratings?
KBRA affirmed the senior unsecured debt rating of BBB+, subordinated debt rating of BBB, and short-term debt rating of K2 for Heritage Commerce Corp.
What ratings did KBRA assign to Heritage Bank of Commerce?
KBRA affirmed the deposit and senior unsecured debt ratings of A-, subordinated debt rating of BBB+, and short-term deposit and debt ratings of K2 for the Bank.
What is the outlook for Heritage Commerce Corp according to KBRA?
The outlook for the long-term ratings for both Heritage Commerce Corp and Heritage Bank of Commerce is graded as stable.
Who is the CEO of Heritage Commerce Corp?
Clay Jones is the President and Chief Executive Officer of Heritage Commerce Corp.
Where can I find more information about Heritage Commerce Corp?
Additional information is available on Heritage Commerce Corp's official website at www.heritagecommercecorp.com.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$HTBK Insider Trading Activity
$HTBK insiders have traded $HTBK stock on the open market 3 times in the past 6 months. Of those trades, 0 have been purchases and 3 have been sales.
Here’s a breakdown of recent trading of $HTBK stock by insiders over the last 6 months:
- ROBERTSON CLAY JR JONES (President and CEO) sold 5,145 shares for an estimated $50,063
- JACK W CONNER sold 4,000 shares for an estimated $42,080
- SUSAN SVENSSON JUST (EVP/Chief Credit Officer) sold 1,602 shares for an estimated $15,588
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$HTBK Hedge Fund Activity
We have seen 98 institutional investors add shares of $HTBK stock to their portfolio, and 64 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- FJ CAPITAL MANAGEMENT LLC removed 594,764 shares (-16.4%) from their portfolio in Q4 2024, for an estimated $5,578,886
- ATEGRA CAPITAL MANAGEMENT, LLC removed 478,480 shares (-56.4%) from their portfolio in Q4 2024, for an estimated $4,488,142
- SIENA CAPITAL PARTNERS GP, LLC removed 400,009 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $3,752,084
- WELLINGTON MANAGEMENT GROUP LLP added 268,900 shares (+13.2%) to their portfolio in Q4 2024, for an estimated $2,522,282
- ASSENAGON ASSET MANAGEMENT S.A. removed 264,902 shares (-57.1%) from their portfolio in Q1 2025, for an estimated $2,521,867
- MILLENNIUM MANAGEMENT LLC added 200,522 shares (+inf%) to their portfolio in Q4 2024, for an estimated $1,880,896
- GOLDMAN SACHS GROUP INC removed 170,596 shares (-16.1%) from their portfolio in Q1 2025, for an estimated $1,624,073
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
SAN JOSE, Calif., May 12, 2025 (GLOBE NEWSWIRE) -- Heritage Commerce Corp (NASDAQ: HTBK) (the "Company"), parent company of Heritage Bank of Commerce (the "Bank"), announced today that Kroll Bond Rating Agency, LLC ("KBRA") affirmed the Company’s senior unsecured debt rating of BBB+, the subordinated debt rating of BBB, and the short-term debt rating of K2. KBRA also affirmed deposit and senior unsecured debt ratings of A-, the subordinated debt rating of BBB+, and the short-term deposit and debt ratings of K2 for the Bank. They graded the outlook of the long-term ratings for both the Company and the Bank as stable on May 9, 2025.
"I am pleased to see that KBRA's latest ratings report highlights our disciplined and conservative approach to liquidity and capital management, as it shielded the Company during the more uncertain credit and liquidity environment in recent years,” said Clay Jones, President and Chief Executive Officer. “They also recognized our solid credit quality position due to our prudent underwriting and robust monitoring.”
The complete KBRA press release on Heritage Commerce Corp is available on KBRA’s website, https://www.krollbondratings.com . The KBRA press release, credit ratings, and analysis constitute part of the information contained therein are, and must be construed solely as, statements of opinion of KBRA and not statements of fact or recommendations of KBRA or the Company to purchase, sell or hold any of the Company’s securities.
Heritage Commerce Corp , a bank holding company established in October 1997, is the parent company of Heritage Bank of Commerce, established in 1994 and headquartered in San Jose, CA with full-service branches in Danville, Fremont, Gilroy, Hollister, Livermore, Los Altos, Los Gatos, Morgan Hill, Oakland, Palo Alto, Pleasanton, Redwood City, San Francisco, San Jose, San Mateo, San Rafael, and Walnut Creek. Heritage Bank of Commerce is an SBA Preferred Lender. Bay View Funding, a subsidiary of Heritage Bank of Commerce, is based in San Jose, CA and provides business-essential working capital factoring financing to various industries throughout the United States. For more information, please visit www.heritagecommercecorp.com .
Member FDIC
For additional information, email:
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