Wall Street analysts forecast that Heritage Commerce Corp (NASDAQ:HTBK) will announce sales of $28.70 million for the current quarter, according to Zacks. Two analysts have provided estimates for Heritage Commerce Corp’s earnings, with estimates ranging from $28.50 million to $28.90 million. Heritage Commerce Corp posted sales of $25.36 million in the same quarter last year, which would indicate a positive year over year growth rate of 13.2%. The firm is scheduled to issue its next quarterly earnings results on Thursday, October 26th.

On average, analysts expect that Heritage Commerce Corp will report full-year sales of $28.70 million for the current fiscal year, with estimates ranging from $111.30 million to $112.00 million. For the next financial year, analysts expect that the firm will post sales of $123.55 million per share, with estimates ranging from $122.40 million to $124.70 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Heritage Commerce Corp.

Heritage Commerce Corp (NASDAQ:HTBK) last posted its earnings results on Thursday, July 27th. The financial services provider reported $0.19 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.19. Heritage Commerce Corp had a net margin of 25.75% and a return on equity of 10.61%. The firm had revenue of $27.23 million for the quarter, compared to analyst estimates of $27.90 million.

Several research analysts have commented on HTBK shares. ValuEngine raised shares of Heritage Commerce Corp from a “hold” rating to a “buy” rating in a research note on Tuesday, July 11th. BidaskClub downgraded shares of Heritage Commerce Corp from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 22nd. Zacks Investment Research raised shares of Heritage Commerce Corp from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Finally, Brean Capital reissued a “buy” rating on shares of Heritage Commerce Corp in a research note on Thursday, August 3rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. Heritage Commerce Corp has an average rating of “Hold” and an average target price of $15.67.

In other news, Director Komas Julianne M. Biagini sold 3,650 shares of the firm’s stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $13.65, for a total value of $49,822.50. Following the transaction, the director now owns 25,696 shares in the company, valued at $350,750.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director J Philip Dinapoli bought 5,000 shares of the business’s stock in a transaction dated Thursday, August 10th. The stock was purchased at an average price of $13.53 per share, for a total transaction of $67,650.00. Following the acquisition, the director now directly owns 163,376 shares of the company’s stock, valued at approximately $2,210,477.28. The disclosure for this purchase can be found here. Company insiders own 5.69% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. Goldman Sachs Group Inc. grew its holdings in shares of 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 purchasing an additional 278 shares during the last quarter. American International Group Inc. grew its holdings in shares of 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 purchasing an additional 1,038 shares during the last quarter. Legal & General Group Plc grew its holdings in shares of Heritage Commerce Corp by 20.4% in the second quarter. Legal & General Group Plc now owns 7,903 shares of the financial services provider’s stock worth $109,000 after purchasing an additional 1,339 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of 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 purchasing an additional 1,974 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd grew its holdings in shares of Heritage Commerce Corp by 27.8% in the second quarter. Dynamic Technology Lab Private Ltd now owns 17,737 shares of the financial services provider’s stock worth $245,000 after purchasing an additional 3,856 shares during the last quarter. Hedge funds and other institutional investors own 69.47% of the company’s stock.

Shares of Heritage Commerce Corp (NASDAQ HTBK) opened at 14.70 on Monday. The firm’s 50-day moving average is $14.04 and its 200-day moving average is $13.86. Heritage Commerce Corp has a 12-month low of $10.23 and a 12-month high of $14.87. The company has a market capitalization of $560.51 million, a price-to-earnings ratio of 20.16 and a beta of 0.51.

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

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