Brokerages expect Heritage Commerce Corp (NASDAQ:HTBK) to announce sales of $27.90 million for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Heritage Commerce Corp’s earnings. The highest sales estimate is $28.40 million and the lowest is $27.40 million. Heritage Commerce Corp reported sales of $26.40 million in the same quarter last year, which indicates a positive year over year growth rate of 5.7%. The firm is expected to issue its next earnings report on Thursday, July 27th.

On average, analysts expect that Heritage Commerce Corp will report full-year sales of $27.90 million for the current financial year, with estimates ranging from $111.30 million to $114.10 million. For the next year, analysts forecast that the company will report sales of $125.15 million per share, with estimates ranging from $122.60 million to $127.70 million. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that follow Heritage Commerce Corp.

A number of equities research analysts recently weighed in on HTBK shares. Brean Capital set a $16.00 target price on Heritage Commerce Corp and gave the stock a “buy” rating in a research report on Friday, April 28th. Zacks Investment Research downgraded Heritage Commerce Corp from a “hold” rating to a “sell” rating in a research report on Wednesday, May 3rd. Finally, ValuEngine raised Heritage Commerce Corp from a “hold” rating to a “buy” rating in a research report on Tuesday, July 11th.

A number of large investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. increased its stake in Heritage Commerce Corp by 1.7% in the first quarter. Goldman Sachs Group Inc. now owns 16,613 shares of the financial services provider’s stock worth $234,000 after buying an additional 278 shares during the last quarter. American International Group Inc. increased its stake in Heritage Commerce Corp by 6.9% in the first quarter. American International Group Inc. now owns 16,039 shares of the financial services provider’s stock worth $226,000 after buying an additional 1,038 shares during the last quarter. Bank of America Corp DE increased its stake in Heritage Commerce Corp by 11.1% in the first quarter. Bank of America Corp DE now owns 19,692 shares of the financial services provider’s stock worth $277,000 after buying an additional 1,974 shares during the last quarter. Stevens Capital Management LP increased its stake in Heritage Commerce Corp by 19.8% in the first quarter. Stevens Capital Management LP now owns 13,974 shares of the financial services provider’s stock worth $197,000 after buying an additional 2,308 shares during the last quarter. Finally, TFS Capital LLC increased its stake in Heritage Commerce Corp by 21.1% in the first quarter. TFS Capital LLC now owns 20,643 shares of the financial services provider’s stock worth $291,000 after buying an additional 3,595 shares during the last quarter. 69.39% of the stock is currently owned by institutional investors.

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Shares of Heritage Commerce Corp (HTBK) traded down 0.29% on Friday, reaching $13.85. The company had a trading volume of 105,059 shares. Heritage Commerce Corp has a 52-week low of $10.15 and a 52-week high of $14.87. The firm has a market capitalization of $526.47 million, a PE ratio of 19.05 and a beta of 0.52. The company has a 50-day moving average price of $13.68 and a 200-day moving average price of $13.94.

Heritage Commerce Corp Company Profile

Heritage Commerce Corp is a bank holding company. The Company, through its subsidiary Heritage Bank of Commerce (the Bank), provides a range of banking services. The Bank is a California state-chartered multi-community independent bank that offers a range of commercial banking services to small and medium-sized businesses and their owners, managers and employees.

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

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