Brokerages forecast that Heritage Commerce Corp. (NASDAQ:HTBK) will post earnings per share of $0.16 for the current quarter, according to Zacks. Four analysts have issued estimates for Heritage Commerce’s earnings, with estimates ranging from $0.08 to $0.24. Heritage Commerce reported earnings per share of $0.27 during the same quarter last year, which suggests a negative year-over-year growth rate of 40.7%. The company is scheduled to issue its next earnings results on Thursday, July 23rd.

According to Zacks, analysts expect that Heritage Commerce will report full-year earnings of $0.60 per share for the current financial year, with EPS estimates ranging from $0.50 to $0.75. For the next year, analysts expect that the business will report earnings of $0.65 per share, with EPS estimates ranging from $0.40 to $0.87. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side analysts that follow Heritage Commerce.

Heritage Commerce (NASDAQ:HTBK) last released its earnings results on Thursday, April 23rd. The financial services provider reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.15). Heritage Commerce had a net margin of 18.73% and a return on equity of 8.94%. The firm had revenue of $41.77 million during the quarter, compared to analyst estimates of $39.72 million.

Several equities research analysts have weighed in on the company. Raymond James increased their price target on Heritage Commerce from $8.00 to $9.00 and gave the stock an “outperform” rating in a research report on Monday, April 27th. Janney Montgomery Scott increased their price target on Heritage Commerce from $9.00 to $10.00 and gave the stock a “buy” rating in a research report on Tuesday, April 28th. TheStreet downgraded Heritage Commerce from a “b-” rating to a “c+” rating in a research report on Thursday, March 5th. BidaskClub downgraded Heritage Commerce from a “sell” rating to a “strong sell” rating in a research report on Thursday, May 14th. Finally, ValuEngine downgraded Heritage Commerce from a “hold” rating to a “sell” rating in a research report on Thursday, April 2nd. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $12.00.

Shares of NASDAQ HTBK traded down $0.13 during mid-day trading on Monday, hitting $7.56. The stock had a trading volume of 130,104 shares, compared to its average volume of 209,525. The company has a 50 day moving average of $7.75 and a two-hundred day moving average of $10.52. The firm has a market cap of $459.38 million, a PE ratio of 8.74 and a beta of 1.17. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.76 and a current ratio of 0.76. Heritage Commerce has a twelve month low of $6.04 and a twelve month high of $13.14.

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Thursday, May 7th were given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 6.88%. The ex-dividend date of this dividend was Wednesday, May 6th. Heritage Commerce’s dividend payout ratio (DPR) is presently 48.60%.

In related news, CEO Keith Wilton sold 3,713 shares of the firm’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $8.36, for a total value of $31,040.68. Following the transaction, the chief executive officer now directly owns 141,807 shares of the company’s stock, valued at approximately $1,185,506.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jack W. Conner purchased 12,000 shares of the firm’s stock in a transaction that occurred on Monday, March 2nd. The stock was bought at an average cost of $10.85 per share, for a total transaction of $130,200.00. Insiders have bought a total of 17,700 shares of company stock worth $192,637 over the last 90 days. Insiders own 4.30% of the company’s stock.

A number of institutional investors have recently modified their holdings of the stock. Raymond James Financial Services Advisors Inc. lifted its stake in Heritage Commerce by 6.8% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 19,572 shares of the financial services provider’s stock valued at $251,000 after buying an additional 1,250 shares in the last quarter. Swiss National Bank lifted its stake in Heritage Commerce by 1.5% in the 1st quarter. Swiss National Bank now owns 109,100 shares of the financial services provider’s stock worth $837,000 after purchasing an additional 1,600 shares in the last quarter. Stone Ridge Asset Management LLC lifted its stake in Heritage Commerce by 16.4% in the 1st quarter. Stone Ridge Asset Management LLC now owns 14,892 shares of the financial services provider’s stock worth $114,000 after purchasing an additional 2,100 shares in the last quarter. Summit Global Investments lifted its stake in Heritage Commerce by 2.9% in the 4th quarter. Summit Global Investments now owns 76,995 shares of the financial services provider’s stock worth $988,000 after purchasing an additional 2,180 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Heritage Commerce by 88.4% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,506 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 2,583 shares in the last quarter. 70.45% of the stock is currently owned by hedge funds and other institutional investors.

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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