Equities analysts expect that Heritage Commerce Corp (NASDAQ:HTBK) will report $0.21 earnings per share (EPS) for the current quarter, according to Zacks. Two analysts have made estimates for Heritage Commerce’s earnings, with estimates ranging from $0.15 to $0.26. Heritage Commerce reported earnings of $0.19 per share during the same quarter last year, which indicates a positive year over year growth rate of 10.5%. The firm is scheduled to announce its next quarterly earnings report on Thursday, July 26th.
On average, analysts expect that Heritage Commerce will report full year earnings of $1.01 per share for the current year, with EPS estimates ranging from $0.95 to $1.06. For the next year, analysts expect that the company will report earnings of $1.32 per share, with EPS estimates ranging from $1.27 to $1.36. Zacks’ EPS averages are an average based on a survey of sell-side analysts that follow Heritage Commerce.
Get Heritage Commerce alerts:Heritage Commerce (NASDAQ:HTBK) last announced its quarterly earnings data on Thursday, April 26th. The financial services provider reported $0.23 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.01). The company had revenue of $28.54 million during the quarter, compared to the consensus estimate of $29.45 million. Heritage Commerce had a return on equity of 12.22% and a net margin of 21.93%.
HTBK has been the topic of several research reports. BidaskClub raised shares of Heritage Commerce from a “sell” rating to a “hold” rating in a research report on Saturday, February 24th. Brean Capital reaffirmed a “buy” rating on shares of Heritage Commerce in a research report on Thursday, May 3rd. DA Davidson raised shares of Heritage Commerce from a “neutral” rating to a “buy” rating in a research report on Monday, February 12th. Zacks Investment Research raised shares of Heritage Commerce from a “hold” rating to a “strong-buy” rating and set a $19.00 price objective on the stock in a research report on Wednesday, March 14th. Finally, Keefe, Bruyette & Woods raised shares of Heritage Commerce from a “market perform” rating to an “outperform” rating in a research report on Tuesday, March 13th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Heritage Commerce has a consensus rating of “Buy” and a consensus price target of $18.50.
In other news, Director Jack W. Conner sold 23,000 shares of the business’s stock in a transaction that occurred on Thursday, May 10th. The shares were sold at an average price of $16.98, for a total value of $390,540.00. Following the sale, the director now owns 61,812 shares of the company’s stock, valued at $1,049,567.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 5.40% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Meeder Asset Management Inc. raised its position in shares of Heritage Commerce by 471.6% in the fourth quarter. Meeder Asset Management Inc. now owns 8,100 shares of the financial services provider’s stock valued at $123,000 after purchasing an additional 6,683 shares during the period. Cubist Systematic Strategies LLC bought a new stake in shares of Heritage Commerce in the first quarter valued at approximately $165,000. A.R.T. Advisors LLC bought a new stake in shares of Heritage Commerce in the first quarter valued at approximately $182,000. UBS Asset Management Americas Inc. bought a new stake in shares of Heritage Commerce in the fourth quarter valued at approximately $172,000. Finally, First Allied Advisory Services Inc. bought a new stake in shares of Heritage Commerce in the first quarter valued at approximately $189,000. 69.16% of the stock is currently owned by institutional investors.
HTBK stock traded down $0.10 during mid-day trading on Friday, hitting $17.09. The company had a trading volume of 160,400 shares, compared to its average volume of 141,149. The firm has a market cap of $691.95 million, a price-to-earnings ratio of 21.36, a P/E/G ratio of 1.71 and a beta of 0.59. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.66 and a current ratio of 0.66. Heritage Commerce has a 12 month low of $12.76 and a 12 month high of $17.43.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 24th. Stockholders of record on Thursday, May 10th will be given a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 2.57%. The ex-dividend date of this dividend is Wednesday, May 9th. Heritage Commerce’s dividend payout ratio (DPR) is currently 55.00%.
Heritage Commerce Company Profile
Heritage Commerce Corp operates as the bank holding company for Heritage Bank of Commerce that provides various commercial and personal banking services to residents and the business/professional community in California. It offers a range of deposit products for business banking and retail markets, including interest and non-interest bearing demand, savings accounts, certificate of deposit, money market accounts, and time deposits.
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