Heritage Commerce (HTBK) Posts Earnings Results, Misses Estimates By $0.01 EPS
Heritage Commerce (NASDAQ:HTBK) issued its quarterly earnings data on Thursday. The financial services provider reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.01), Fidelity Earnings reports. The business had revenue of $28.54 million for the quarter, compared to analyst estimates of $29.45 million. Heritage Commerce had a net margin of 21.93% and a return on equity of 12.21%.
HTBK stock traded up $0.07 during mid-day trading on Friday, hitting $16.85. The company had a trading volume of 115,571 shares, compared to its average volume of 103,495. The firm has a market cap of $674.22, a price-to-earnings ratio of 21.06, a P/E/G ratio of 1.65 and a beta of 0.58. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.76 and a current ratio of 0.76. Heritage Commerce has a 12 month low of $12.76 and a 12 month high of $17.28.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 24th. Shareholders of record on Thursday, May 10th will be given a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 2.61%. The ex-dividend date of this dividend is Wednesday, May 9th. Heritage Commerce’s dividend payout ratio is 55.00%.
A number of research analysts recently weighed in on HTBK shares. BidaskClub raised shares of Heritage Commerce from a “hold” rating to a “buy” rating in a research report on Thursday. ValuEngine lowered shares of Heritage Commerce from a “buy” rating to a “hold” rating in a research report on Wednesday, April 18th. Brean Capital reissued a “buy” rating on shares of Heritage Commerce in a research report on Monday, April 16th. Zacks Investment Research lowered shares of Heritage Commerce from a “buy” rating to a “hold” rating in a research report on Saturday, March 31st. Finally, Keefe, Bruyette & Woods raised shares of Heritage Commerce from a “market perform” rating to an “outperform” rating in a research report on Tuesday, March 13th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Heritage Commerce currently has a consensus rating of “Buy” and a consensus target price of $18.25.
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. 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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