Equities research analysts predict that Heritage Commerce Corp (NASDAQ:HTBK) will post earnings of $0.19 per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Heritage Commerce’s earnings, with estimates ranging from $0.18 to $0.20. Heritage Commerce posted earnings of $0.18 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 5.6%. The firm is scheduled to announce its next earnings report 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 year, with EPS estimates ranging from $0.70 to $0.82. For the next financial year, analysts forecast that the company will report earnings of $0.73 per share, with EPS estimates ranging from $0.65 to $0.90. Zacks’ earnings per share averages are a mean average based on a survey of research analysts that follow Heritage Commerce.
Heritage Commerce (NASDAQ:HTBK) last released its quarterly earnings data on Thursday, April 22nd. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.01. Heritage Commerce had a return on equity of 7.17% and a net margin of 17.58%. The firm had revenue of $37.26 million during the quarter, compared to analyst estimates of $37.99 million.
Heritage Commerce stock traded up $0.10 during mid-day trading on Friday, hitting $12.15. 142,037 shares of the company were exchanged, compared to its average volume of 325,686. Heritage Commerce has a 1-year low of $6.13 and a 1-year high of $12.65. The company has a market capitalization of $730.25 million, a PE ratio of 24.30 and a beta of 1.26. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.07. The business has a fifty day moving average of $12.16 and a 200 day moving average of $9.94.
The company also recently declared a quarterly dividend, which will be paid on Thursday, May 27th. Investors of record on Thursday, May 13th will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 4.28%. The ex-dividend date of this dividend is Wednesday, May 12th. Heritage Commerce’s dividend payout ratio is 48.60%.
Institutional investors have recently bought and sold shares of the stock. Benjamin Edwards Inc. boosted its holdings in 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 acquiring an additional 2,427 shares during the last quarter. Marshall Wace North America L.P. bought a new position in Heritage Commerce in the first quarter valued at about $56,000. Nisa Investment Advisors LLC boosted its holdings in Heritage Commerce by 48.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 10,100 shares of the financial services provider’s stock valued at $90,000 after acquiring an additional 3,300 shares during the last quarter. Corient Capital Partners LLC boosted its holdings in Heritage Commerce by 17.2% in the fourth quarter. Corient Capital Partners LLC now owns 12,148 shares of the financial services provider’s stock valued at $108,000 after acquiring an additional 1,786 shares during the last quarter. Finally, ProShare Advisors LLC bought a new position in Heritage Commerce in the fourth quarter valued at about $114,000. Institutional investors and hedge funds own 68.41% of the company’s stock.
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. 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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