Analysts predict that Heritage Commerce Corp. (NASDAQ:HTBK) will report $0.25 earnings per share (EPS) for the current quarter, according to Zacks. Two analysts have made estimates for Heritage Commerce’s earnings. The lowest EPS estimate is $0.23 and the highest is $0.26. Heritage Commerce reported earnings of $0.30 per share in the same quarter last year, which suggests a negative year over year growth rate of 16.7%. The firm is expected to issue its next quarterly earnings report on Thursday, January 23rd.
According to Zacks, analysts expect that Heritage Commerce will report full-year earnings of $1.05 per share for the current year, with EPS estimates ranging from $1.02 to $1.07. For the next fiscal year, analysts expect that the firm will report earnings of $1.05 per share, with EPS estimates ranging from $1.02 to $1.11. Zacks Investment Research’s earnings per share calculations are an 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, October 24th. The financial services provider reported $0.26 EPS for the quarter, hitting analysts’ consensus estimates of $0.26. Heritage Commerce had a net margin of 32.92% and a return on equity of 12.91%. The company had revenue of $33.24 million for the quarter, compared to the consensus estimate of $33.99 million.
Shares of HTBK stock traded up $0.07 during midday trading on Monday, reaching $12.71. 533,687 shares of the company were exchanged, compared to its average volume of 216,965. Heritage Commerce has a 12 month low of $10.84 and a 12 month high of $14.61. The company has a market cap of $731.12 million, a P/E ratio of 10.93 and a beta of 0.85. The company’s 50 day moving average price is $12.30 and its two-hundred day moving average price is $11.97. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.71 and a current ratio of 0.71.
The business also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Tuesday, November 5th were given a dividend of $0.12 per share. The ex-dividend date was Monday, November 4th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.78%. Heritage Commerce’s dividend payout ratio (DPR) is 45.28%.
In related news, Director Jason Philip Dinapoli purchased 5,000 shares of the company’s stock in a transaction on Tuesday, November 12th. The shares were bought at an average cost of $12.44 per share, for a total transaction of $62,200.00. Following the transaction, the director now owns 27,261 shares of the company’s stock, valued at $339,126.84. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.22% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Liberty Wealth Management LLC raised its holdings in shares of Heritage Commerce by 4,625.6% in the 3rd quarter. Liberty Wealth Management LLC now owns 2,032 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 1,989 shares in the last quarter. Marshall Wace North America L.P. bought a new stake in shares of Heritage Commerce in the 1st quarter worth approximately $56,000. Cadence Capital Management LLC bought a new stake in shares of Heritage Commerce in the 3rd quarter worth approximately $119,000. Patriot Financial Partners GP LP bought a new stake in shares of Heritage Commerce in the 3rd quarter worth approximately $141,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Heritage Commerce in the second quarter worth approximately $232,000. Institutional investors and hedge funds own 58.54% of the company’s stock.
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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