Analysts Expect Heritage Commerce Corp. (HTBK) Will Announce Quarterly Sales of $29.45 Million

Wall Street analysts expect that Heritage Commerce Corp. (NASDAQ:HTBK) will report sales of $29.45 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Heritage Commerce’s earnings, with the highest sales estimate coming in at $29.50 million and the lowest estimate coming in at $29.40 million. Heritage Commerce reported sales of $26.12 million in the same quarter last year, which suggests a positive year over year growth rate of 12.7%. The business is scheduled to report its next quarterly earnings results on Thursday, April 26th.

According to Zacks, analysts expect that Heritage Commerce will report full year sales of $29.45 million for the current year, with estimates ranging from $134.20 million to $137.00 million. For the next financial year, analysts expect that the business will post sales of $158.55 million per share, with estimates ranging from $155.60 million to $161.50 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow Heritage Commerce.

HTBK has been the topic of a number of research analyst reports. Brean Capital set a $16.00 target price on shares of Heritage Commerce and gave the company a “buy” rating in a research note on Monday, October 23rd. Zacks Investment Research lowered shares of Heritage Commerce from a “buy” rating to a “hold” rating in a research note on Monday, October 30th. ValuEngine lowered shares of Heritage Commerce from a “buy” rating to a “hold” rating in a research note on Saturday, December 9th. Finally, BidaskClub lowered shares of Heritage Commerce from a “buy” rating to a “hold” rating in a research note on Tuesday, December 19th.

A number of large investors have recently bought and sold shares of the stock. Schwab Charles Investment Management Inc. boosted its holdings in Heritage Commerce by 32.9% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 52,500 shares of the financial services provider’s stock valued at $724,000 after purchasing an additional 13,000 shares during the period. Bank of New York Mellon Corp boosted its holdings in Heritage Commerce by 28.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 240,429 shares of the financial services provider’s stock valued at $3,314,000 after purchasing an additional 53,148 shares during the period. Legal & General Group Plc boosted its holdings in Heritage Commerce by 20.4% in the 2nd quarter. Legal & General Group Plc now owns 7,903 shares of the financial services provider’s stock valued at $109,000 after purchasing an additional 1,339 shares during the period. Principal Financial Group Inc. bought a new stake in Heritage Commerce in the 2nd quarter valued at $175,000. Finally, Swiss National Bank bought a new stake in Heritage Commerce in the 2nd quarter valued at $827,000. Institutional investors and hedge funds own 69.97% of the company’s stock.

Heritage Commerce (NASDAQ:HTBK) opened at $15.30 on Wednesday. Heritage Commerce has a 12 month low of $12.76 and a 12 month high of $16.80. The company has a quick ratio of 0.76, a current ratio of 0.77 and a debt-to-equity ratio of 0.14. The stock has a market cap of $611.21, a price-to-earnings ratio of 24.68, a P/E/G ratio of 1.57 and a beta of 0.61.

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 22nd. Investors of record on Thursday, February 8th will be paid a $0.11 dividend. The ex-dividend date is Wednesday, February 7th. This is a positive change from Heritage Commerce’s previous quarterly dividend of $0.10. This represents a $0.44 dividend on an annualized basis and a yield of 2.88%. Heritage Commerce’s dividend payout ratio (DPR) is presently 64.52%.

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About Heritage Commerce

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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