Analysts expect that Heritage Commerce Corp (NASDAQ:HTBK) will report earnings of $0.19 per share for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Heritage Commerce’s earnings, with the lowest EPS estimate coming in at $0.16 and the highest estimate coming in at $0.23. Heritage Commerce posted earnings per share of $0.06 in the same quarter last year, which suggests a positive year over year growth rate of 216.7%. The firm is scheduled to report its next earnings results on Thursday, April 22nd.
On average, analysts expect that Heritage Commerce will report full year earnings of $0.69 per share for the current year, with EPS estimates ranging from $0.60 to $0.88. For the next fiscal year, analysts expect that the firm will post earnings of $0.67 per share, with EPS estimates ranging from $0.55 to $0.93. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research analysts that cover Heritage Commerce.
Heritage Commerce (NASDAQ:HTBK) last released its quarterly earnings data on Thursday, January 28th. The financial services provider reported $0.19 EPS for the quarter, beating the consensus estimate of $0.18 by $0.01. Heritage Commerce had a net margin of 17.58% and a return on equity of 7.17%.
In related news, Director Jason Philip Dinapoli bought 10,000 shares of Heritage Commerce stock in a transaction dated Thursday, December 10th. The shares were acquired at an average cost of $8.94 per share, with a total value of $89,400.00. Following the completion of the transaction, the director now owns 25,347 shares in the company, valued at approximately $226,602.18. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Michael Eugene Benito sold 4,500 shares of the firm’s stock in a transaction that occurred on Monday, December 14th. The stock was sold at an average price of $9.24, for a total transaction of $41,580.00. Following the transaction, the executive vice president now directly owns 65,537 shares in the company, valued at $605,561.88. The disclosure for this sale can be found here. Company insiders own 4.30% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC bought a new position in shares of Heritage Commerce during the third quarter valued at approximately $45,000. Marshall Wace North America L.P. bought a new position in shares of Heritage Commerce during the first quarter valued at approximately $56,000. Liberty Wealth Management LLC boosted its stake in shares of Heritage Commerce by 2,078.1% during the third quarter. Liberty Wealth Management LLC now owns 12,350 shares of the financial services provider’s stock valued at $82,000 after purchasing an additional 11,783 shares in the last quarter. BNP Paribas Arbitrage SA boosted its stake in shares of Heritage Commerce by 464.5% during the third quarter. BNP Paribas Arbitrage SA now owns 13,739 shares of the financial services provider’s stock valued at $91,000 after purchasing an additional 11,305 shares in the last quarter. Finally, Great West Life Assurance Co. Can boosted its stake in shares of Heritage Commerce by 28.2% during the third quarter. Great West Life Assurance Co. Can now owns 6,983 shares of the financial services provider’s stock valued at $95,000 after purchasing an additional 1,538 shares in the last quarter. Hedge funds and other institutional investors own 68.41% of the company’s stock.
Shares of HTBK traded up $0.01 during midday trading on Tuesday, hitting $9.36. 17,081 shares of the company traded hands, compared to its average volume of 260,895. The firm has a 50 day moving average of $9.37 and a 200-day moving average of $8.10. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.70 and a current ratio of 0.70. The stock has a market cap of $560.80 million, a price-to-earnings ratio of 18.71 and a beta of 1.26. Heritage Commerce has a 52 week low of $6.04 and a 52 week high of $11.48.
The business also recently announced a quarterly dividend, which will be paid on Friday, February 26th. Stockholders of record on Friday, February 12th will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 5.56%. The ex-dividend date of this dividend is Thursday, February 11th. Heritage Commerce’s dividend payout ratio (DPR) is presently 48.60%.
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. 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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