Wall Street analysts expect Heritage Commerce Corp (NASDAQ:HTBK) to announce earnings of $0.19 per share for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Heritage Commerce’s earnings. The lowest EPS estimate is $0.18 and the highest is $0.20. Heritage Commerce reported earnings per share of $0.18 during the same quarter last year, which would suggest a positive year-over-year growth rate of 5.6%. The company is expected to issue its next earnings results on Thursday, July 22nd.
According to Zacks, analysts expect that Heritage Commerce will report full-year earnings of $0.74 per share for the current financial year, with EPS estimates ranging from $0.70 to $0.82. For the next financial year, analysts expect that the company will post earnings of $0.73 per share, with EPS estimates ranging from $0.65 to $0.90. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research firms that cover Heritage Commerce.
Heritage Commerce (NASDAQ:HTBK) last issued its quarterly earnings data on Thursday, April 22nd. The financial services provider reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.01. The firm had revenue of $37.26 million during the quarter, compared to analysts’ expectations of $37.99 million. Heritage Commerce had a return on equity of 7.76% and a net margin of 28.74%.
Shares of NASDAQ HTBK traded down $0.06 during mid-day trading on Thursday, reaching $11.75. 543,143 shares of the company were exchanged, compared to its average volume of 298,356. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $706.21 million, a PE ratio of 15.75 and a beta of 1.24. Heritage Commerce has a 1 year low of $6.13 and a 1 year high of $12.65. The business has a 50-day simple moving average of $12.03.
The firm also recently announced a quarterly dividend, which was paid on Thursday, May 27th. Shareholders of record on Thursday, May 13th were paid a dividend of $0.13 per share. The ex-dividend date of this dividend was Wednesday, May 12th. This represents a $0.52 annualized dividend and a yield of 4.43%. Heritage Commerce’s dividend payout ratio (DPR) is 82.54%.
Hedge funds and other institutional investors have recently modified their holdings of the company. Benjamin Edwards Inc. grew its stake in shares of Heritage Commerce by 161.9% in the first quarter. Benjamin Edwards Inc. now owns 3,926 shares of the financial services provider’s stock valued at $48,000 after buying an additional 2,427 shares in the last quarter. Marshall Wace North America L.P. purchased a new stake in Heritage Commerce during the 1st quarter worth about $56,000. Eaton Vance Management purchased a new stake in Heritage Commerce during the 1st quarter worth about $67,000. Nisa Investment Advisors LLC lifted its holdings in Heritage Commerce by 48.5% during the 4th quarter. Nisa Investment Advisors LLC now owns 10,100 shares of the financial services provider’s stock worth $90,000 after buying an additional 3,300 shares during the last quarter. Finally, Corient Capital Partners LLC lifted its holdings in Heritage Commerce by 17.2% during the 4th quarter. Corient Capital Partners LLC now owns 12,148 shares of the financial services provider’s stock worth $108,000 after buying an additional 1,786 shares during the last quarter. 70.93% of the stock is owned by institutional investors and hedge funds.
About Heritage Commerce
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. Its deposit products for business banking and retail markets include interest and non-interest bearing demand, savings, and money market accounts, as well as certificates of deposit and time deposits.
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