Analysts Expect Heritage Commerce Corp (HTBK) Will Post Earnings of $0.22 Per Share
Brokerages predict that Heritage Commerce Corp (NASDAQ:HTBK) will report earnings per share (EPS) of $0.22 for the current quarter, according to Zacks. Two analysts have issued estimates for Heritage Commerce Corp’s earnings. The lowest EPS estimate is $0.21 and the highest is $0.22. Heritage Commerce Corp posted earnings per share of $0.18 in the same quarter last year, which suggests a positive year-over-year growth rate of 22.2%. The company is scheduled to announce its next quarterly earnings report on Thursday, October 26th.
According to Zacks, analysts expect that Heritage Commerce Corp will report full-year earnings of $0.79 per share for the current fiscal year, with EPS estimates ranging from $0.77 to $0.82. For the next year, analysts expect that the company will post earnings of $0.93 per share, with EPS estimates ranging from $0.89 to $1.00. Zacks’ EPS averages are a mean average based on a survey of analysts that that provide coverage for Heritage Commerce Corp.
Heritage Commerce Corp (NASDAQ:HTBK) last announced its quarterly earnings results on Thursday, July 27th. The financial services provider reported $0.19 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.19. The business had revenue of $27.23 million for the quarter, compared to analysts’ expectations of $27.90 million. Heritage Commerce Corp had a return on equity of 10.69% and a net margin of 25.75%.
Several equities analysts have recently issued reports on HTBK shares. Brean Capital set a $16.00 price objective on Heritage Commerce Corp and gave the company a “buy” rating in a report on Friday, April 28th. Zacks Investment Research cut Heritage Commerce Corp from a “hold” rating to a “sell” rating in a report on Wednesday, May 3rd. ValuEngine raised Heritage Commerce Corp from a “hold” rating to a “buy” rating in a report on Tuesday, July 11th. Finally, BidaskClub cut Heritage Commerce Corp from a “hold” rating to a “sell” rating in a report on Friday, July 28th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $15.50.
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Institutional investors have recently modified their holdings of the stock. State Street Corp boosted its position in shares of Heritage Commerce Corp by 8.6% in the fourth quarter. State Street Corp now owns 406,594 shares of the financial services provider’s stock valued at $5,866,000 after buying an additional 32,087 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Heritage Commerce Corp by 22.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,337,366 shares of the financial services provider’s stock valued at $19,298,000 after buying an additional 247,458 shares during the period. Teachers Advisors LLC boosted its position in shares of Heritage Commerce Corp by 25.1% in the fourth quarter. Teachers Advisors LLC now owns 51,628 shares of the financial services provider’s stock valued at $745,000 after buying an additional 10,362 shares during the period. State Board of Administration of Florida Retirement System bought a new position in shares of Heritage Commerce Corp during the first quarter valued at about $618,000. Finally, American Century Companies Inc. boosted its position in shares of Heritage Commerce Corp by 17.6% in the first quarter. American Century Companies Inc. now owns 72,790 shares of the financial services provider’s stock valued at $1,026,000 after buying an additional 10,882 shares during the period. 69.44% of the stock is owned by institutional investors and hedge funds.
Shares of Heritage Commerce Corp (NASDAQ:HTBK) traded up 0.15% during trading on Tuesday, reaching $13.79. The company’s stock had a trading volume of 78,324 shares. The stock has a market cap of $525.67 million, a price-to-earnings ratio of 18.92 and a beta of 0.52. Heritage Commerce Corp has a 12-month low of $10.23 and a 12-month high of $14.87. The company has a 50 day moving average of $13.76 and a 200-day moving average of $13.92.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 24th. Stockholders of record on Thursday, August 10th will be issued a $0.10 dividend. The ex-dividend date is Tuesday, August 8th. This represents a $0.40 annualized dividend and a dividend yield of 2.90%. Heritage Commerce Corp’s dividend payout ratio (DPR) is presently 54.79%.
About Heritage Commerce Corp
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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