Brokerages Anticipate Heritage Commerce Corp (NASDAQ:HTBK) Will Post Earnings of $0.23 Per Share

Pat J. Fraley


Equities analysts expect that Heritage Commerce Corp (NASDAQ:HTBKGet Rating) will report $0.23 earnings per share for the current quarter, Zacks reports. Three analysts have made estimates for Heritage Commerce’s earnings. The highest EPS estimate is $0.25 and the lowest is $0.21. Heritage Commerce posted earnings per share of $0.15 during the same quarter last year, which would suggest a positive year over year growth rate of 53.3%. The business is scheduled to report its next earnings results on Monday, January 1st.

On average, analysts expect that Heritage Commerce will report full year earnings of $0.98 per share for the current fiscal year, with EPS estimates ranging from $0.88 to $1.08. For the next year, analysts anticipate that the company will report earnings of $1.22 per share, with EPS estimates ranging from $1.05 to $1.42. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that cover Heritage Commerce.

Heritage Commerce (NASDAQ:HTBKGet Rating) last released its quarterly earnings data on Thursday, April 28th. The financial services provider reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.01. The business had revenue of $40.68 million for the quarter, compared to analysts’ expectations of $40.14 million. Heritage Commerce had a return on equity of 8.33% and a net margin of 29.69%.

HTBK has been the topic of several research analyst reports. Zacks Investment Research raised Heritage Commerce from a “hold” rating to a “buy” rating and set a $13.00 price target on the stock in a report on Tuesday, April 5th. initiated coverage on Heritage Commerce in a report on Thursday, March 31st. They set a “hold” rating on the stock.

In related news, Director Jason Philip Dinapoli acquired 3,579 shares of Heritage Commerce stock in a transaction dated Tuesday, March 1st. The stock was purchased at an average cost of $11.38 per share, for a total transaction of $40,729.02. The purchase was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 4.05% of the company’s stock.

Several large investors have recently bought and sold shares of HTBK. Cramer Rosenthal Mcglynn LLC purchased a new stake in shares of Heritage Commerce in the 3rd quarter worth $15,433,000. FJ Capital Management LLC increased its stake in Heritage Commerce by 50.7% in the 3rd quarter. FJ Capital Management LLC now owns 2,015,000 shares of the financial services provider’s stock worth $23,440,000 after buying an additional 678,000 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in Heritage Commerce in the 1st quarter worth $2,470,000. Granite Investment Partners LLC increased its stake in Heritage Commerce by 14.0% in the 1st quarter. Granite Investment Partners LLC now owns 1,606,625 shares of the financial services provider’s stock worth $18,075,000 after buying an additional 197,301 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Heritage Commerce by 24.4% in the 1st quarter. JPMorgan Chase & Co. now owns 831,342 shares of the financial services provider’s stock worth $9,352,000 after buying an additional 162,840 shares in the last quarter. Hedge funds and other institutional investors own 71.49% of the company’s stock.

Shares of NASDAQ HTBK traded up $0.11 during midday trading on Friday, hitting $11.38. 106,839 shares of the stock traded hands, compared to its average volume of 173,910. The firm has a 50-day moving average of $11.32 and a two-hundred day moving average of $11.67. The firm has a market capitalization of $687.81 million, a P/E ratio of 13.88 and a beta of 1.02. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.65 and a current ratio of 0.65. Heritage Commerce has a one year low of $10.56 and a one year high of $12.94.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 26th. Stockholders of record on Thursday, May 12th were paid a $0.13 dividend. The ex-dividend date was Wednesday, May 11th. This represents a $0.52 annualized dividend and a dividend yield of 4.57%. Heritage Commerce’s dividend payout ratio (DPR) is 63.41%.

Heritage Commerce Company Profile (Get Rating)

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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