Wall Street brokerages forecast that Heritage Commerce Corp. (NASDAQ:HTBK) will post earnings of $0.28 per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Heritage Commerce’s earnings, with estimates ranging from $0.26 to $0.30. Heritage Commerce also posted earnings per share of $0.28 in the same quarter last year. The firm is scheduled to issue its next earnings results on Thursday, October 24th.

According to Zacks, analysts expect that Heritage Commerce will report full-year earnings of $1.05 per share for the current fiscal year, with EPS estimates ranging from $1.03 to $1.07. For the next year, analysts anticipate that the business will post earnings of $1.18 per share, with EPS estimates ranging from $1.15 to $1.21. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that that provide coverage for Heritage Commerce.

Several research analysts have weighed in on the company. ValuEngine upgraded Heritage Commerce from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 1st. Brean Capital downgraded Heritage Commerce from a “buy” rating to a “hold” rating in a research note on Friday, April 26th. Finally, Zacks Investment Research upgraded Heritage Commerce from a “sell” rating to a “hold” rating in a research note on Tuesday, August 6th.

In other news, COO Keith Wilton sold 5,575 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $12.21, for a total transaction of $68,070.75. Following the sale, the chief operating officer now directly owns 108,483 shares of the company’s stock, valued at approximately $1,324,577.43. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jason Philip Dinapoli acquired 5,000 shares of the firm’s stock in a transaction dated Friday, June 7th. The shares were purchased at an average cost of $12.01 per share, for a total transaction of $60,050.00. Following the completion of the acquisition, the director now directly owns 22,261 shares in the company, valued at $267,354.61. The disclosure for this purchase can be found here. Insiders acquired a total of 22,899 shares of company stock valued at $276,618 over the last 90 days. 4.22% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. Bank of New York Mellon Corp raised its stake in Heritage Commerce by 0.4% in the 4th quarter. Bank of New York Mellon Corp now owns 246,121 shares of the financial services provider’s stock worth $2,791,000 after purchasing an additional 1,054 shares in the last quarter. Geode Capital Management LLC raised its stake in Heritage Commerce by 8.5% in the 4th quarter. Geode Capital Management LLC now owns 435,771 shares of the financial services provider’s stock worth $4,941,000 after purchasing an additional 34,094 shares in the last quarter. Principal Financial Group Inc. raised its stake in Heritage Commerce by 55.4% in the 4th quarter. Principal Financial Group Inc. now owns 24,948 shares of the financial services provider’s stock worth $283,000 after purchasing an additional 8,892 shares in the last quarter. Metropolitan Life Insurance Co. NY raised its stake in Heritage Commerce by 333.1% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 12,780 shares of the financial services provider’s stock worth $145,000 after purchasing an additional 9,829 shares in the last quarter. Finally, Legal & General Group Plc raised its stake in Heritage Commerce by 12.8% in the 4th quarter. Legal & General Group Plc now owns 7,135 shares of the financial services provider’s stock worth $81,000 after purchasing an additional 811 shares in the last quarter. 74.62% of the stock is currently owned by institutional investors and hedge funds.

HTBK stock traded up $0.30 during midday trading on Friday, hitting $11.46. The company’s stock had a trading volume of 197,600 shares, compared to its average volume of 179,765. Heritage Commerce has a 12 month low of $10.84 and a 12 month high of $16.19. The company has a quick ratio of 0.72, a current ratio of 0.73 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $498.51 million, a price-to-earnings ratio of 10.81, a price-to-earnings-growth ratio of 1.52 and a beta of 0.83. The company has a 50 day moving average of $11.99 and a two-hundred day moving average of $12.51.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 22nd. Shareholders of record on Thursday, August 8th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Wednesday, August 7th. This represents a $0.48 annualized dividend and a yield of 4.19%. Heritage Commerce’s payout ratio is 45.28%.

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

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