Brokerages predict that Heritage Commerce Corp. (NASDAQ:HTBK) will announce earnings of $0.25 per share for the current quarter, Zacks reports. Two analysts have issued estimates for Heritage Commerce’s earnings. The lowest EPS estimate is $0.24 and the highest is $0.25. Heritage Commerce posted earnings per share of $0.17 in the same quarter last year, which would indicate a positive year-over-year growth rate of 47.1%. The company is scheduled to report its next quarterly earnings results on Thursday, April 26th.
On average, analysts expect that Heritage Commerce will report full-year earnings of $1.02 per share for the current year, with EPS estimates ranging from $0.96 to $1.08. For the next fiscal year, analysts forecast that the business will report earnings of $1.31 per share, with EPS estimates ranging from $1.26 to $1.36. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research firms that follow Heritage Commerce.
Heritage Commerce (NASDAQ:HTBK) last announced its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.22 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.01). The business had revenue of $29.01 million during the quarter, compared to analyst estimates of $29.65 million. Heritage Commerce had a net margin of 20.56% and a return on equity of 11.48%.
In other Heritage Commerce news, Director Jack W. Conner sold 24,500 shares of the stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $15.47, for a total value of $379,015.00. Following the sale, the director now directly owns 83,324 shares in the company, valued at $1,289,022.28. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 5.69% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of HTBK. MetLife Investment Advisors LLC acquired a new stake in shares of Heritage Commerce during the fourth quarter worth $274,000. Millennium Management LLC raised its holdings in shares of Heritage Commerce by 237.4% during the fourth quarter. Millennium Management LLC now owns 613,489 shares of the financial services provider’s stock worth $9,399,000 after acquiring an additional 431,652 shares during the period. Two Sigma Investments LP raised its holdings in shares of Heritage Commerce by 7.3% during the fourth quarter. Two Sigma Investments LP now owns 98,542 shares of the financial services provider’s stock worth $1,510,000 after acquiring an additional 6,693 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Heritage Commerce by 95.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 77,538 shares of the financial services provider’s stock worth $1,188,000 after acquiring an additional 37,947 shares during the period. Finally, Stone Ridge Asset Management LLC acquired a new stake in shares of Heritage Commerce during the fourth quarter worth $728,000. Institutional investors own 71.49% of the company’s stock.
Heritage Commerce (NASDAQ HTBK) traded up $0.39 on Friday, reaching $17.23. 31,789 shares of the company’s stock traded hands, compared to its average volume of 149,055. The company has a current ratio of 0.77, a quick ratio of 0.76 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $637.96, a price-to-earnings ratio of 27.16, a PEG ratio of 1.64 and a beta of 0.60. Heritage Commerce has a 12 month low of $12.76 and a 12 month high of $17.28.
The company also recently announced a quarterly dividend, which was paid on Thursday, February 22nd. Shareholders of record on Thursday, February 8th were issued a $0.11 dividend. The ex-dividend date was Wednesday, February 7th. This is a positive change from Heritage Commerce’s previous quarterly dividend of $0.10. This represents a $0.44 annualized dividend and a yield of 2.55%. Heritage Commerce’s dividend payout ratio (DPR) is 70.97%.
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Heritage Commerce Company Profile
Heritage Commerce Corp is a bank holding company. The Company, through its subsidiary Heritage Bank of Commerce (the Bank), provides a range of banking services. The Bank is a California state-chartered multi-community independent bank that offers a range of commercial banking services to small and medium-sized businesses and their owners, managers and employees.
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