$0.19 EPS Expected for Heritage Commerce Corp (NASDAQ:HTBK) This Quarter

Wall Street brokerages forecast that Heritage Commerce Corp (NASDAQ:HTBK) will post $0.19 earnings per share for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Heritage Commerce’s earnings. The highest EPS estimate is $0.20 and the lowest is $0.18. Heritage Commerce posted earnings of $0.18 per share in the same quarter last year, which would indicate a positive year over year growth rate of 5.6%. The company is scheduled to announce its next earnings report on Thursday, July 22nd.

On average, 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 year, analysts anticipate that the firm will report earnings of $0.73 per share, with EPS estimates ranging from $0.65 to $0.90. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Heritage Commerce.

Heritage Commerce (NASDAQ:HTBK) last released its quarterly earnings results on Thursday, April 22nd. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.01. Heritage Commerce had a net margin of 28.74% and a return on equity of 7.76%. The company had revenue of $37.26 million during the quarter, compared to the consensus estimate of $37.99 million.

A number of brokerages have weighed in on HTBK. Zacks Investment Research downgraded shares of Heritage Commerce from a “buy” rating to a “hold” rating in a research note on Wednesday, April 28th. Raymond James raised their target price on shares of Heritage Commerce from $10.00 to $13.00 and gave the company an “outperform” rating in a research note on Monday, April 26th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $11.13.

Several large investors have recently bought and sold shares of HTBK. Marshall Wace North America L.P. purchased a new stake in shares of Heritage Commerce during the first quarter valued at approximately $56,000. Nisa Investment Advisors LLC grew its holdings in shares of Heritage Commerce by 48.5% during the fourth quarter. Nisa Investment Advisors LLC now owns 10,100 shares of the financial services provider’s stock valued at $90,000 after buying an additional 3,300 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of Heritage Commerce by 6.1% during the fourth quarter. Victory Capital Management Inc. now owns 158,500 shares of the financial services provider’s stock valued at $1,406,000 after buying an additional 9,114 shares during the last quarter. HoldCo Asset Management L.P. purchased a new stake in shares of Heritage Commerce during the fourth quarter valued at approximately $3,513,000. Finally, First Trust Advisors LP grew its holdings in shares of Heritage Commerce by 8.0% during the fourth quarter. First Trust Advisors LP now owns 23,710 shares of the financial services provider’s stock valued at $210,000 after buying an additional 1,760 shares during the last quarter. Hedge funds and other institutional investors own 70.93% of the company’s stock.

Shares of NASDAQ HTBK traded down $0.06 on Thursday, reaching $11.75. 543,143 shares of the company’s stock traded hands, compared to its average volume of 298,356. Heritage Commerce has a 12 month low of $6.13 and a 12 month high of $12.65. The company has a 50 day moving average of $12.03. The stock has a market cap of $706.21 million, a P/E ratio of 15.75 and a beta of 1.24. 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 company also recently declared a quarterly dividend, which was paid on Thursday, May 27th. Stockholders of record on Thursday, May 13th were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 4.43%. The ex-dividend date was Wednesday, May 12th. Heritage Commerce’s payout ratio is 82.54%.

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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Earnings History and Estimates for Heritage Commerce (NASDAQ:HTBK)

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