DA Davidson Has Pessimistic Outlook of HTBK FY2025 Earnings

Heritage Commerce Corp (NASDAQ:HTBK) – Equities research analysts at DA Davidson cut their FY2025 earnings per share estimates for shares of Heritage Commerce in a report released on Monday, April 28th. DA Davidson analyst G. Tenner now anticipates that the financial services provider will post earnings per share of $0.78 for the year, down from their prior estimate of $0.84. The consensus estimate for Heritage Commerce’s current full-year earnings is $0.80 per share.

Heritage Commerce (NASDAQ:HTBK) last released its earnings results on Thursday, April 24th. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.01. The firm had revenue of $46.06 million during the quarter, compared to analysts’ expectations of $45.89 million. Heritage Commerce had a return on equity of 5.96% and a net margin of 16.12%.

Several other research firms have also commented on HTBK. Keefe, Bruyette & Woods dropped their price objective on shares of Heritage Commerce from $11.50 to $11.00 and set an “outperform” rating for the company in a research note on Friday, April 25th. Stephens restated an “overweight” rating and set a $11.00 target price on shares of Heritage Commerce in a research report on Monday. Finally, Raymond James set a $10.00 price target on Heritage Commerce in a report on Monday.

Heritage Commerce Trading Down 0.4 %

Shares of HTBK opened at $9.04 on Wednesday. The stock has a market capitalization of $556.96 million, a PE ratio of 13.70 and a beta of 0.81. The company’s fifty day moving average is $9.34 and its 200 day moving average is $9.75. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.73 and a current ratio of 0.73. Heritage Commerce has a fifty-two week low of $7.74 and a fifty-two week high of $11.27.

Heritage Commerce Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Thursday, May 8th will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 5.75%. The ex-dividend date is Thursday, May 8th. Heritage Commerce’s dividend payout ratio is currently 76.47%.

Insiders Place Their Bets

In related news, CEO Robertson Clay Jones, Jr. sold 5,145 shares of Heritage Commerce stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $9.73, for a total value of $50,060.85. Following the completion of the transaction, the chief executive officer now owns 254,227 shares in the company, valued at $2,473,628.71. The trade was a 1.98 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jack W. Conner sold 4,000 shares of the stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $10.52, for a total value of $42,080.00. Following the transaction, the director now owns 108,512 shares in the company, valued at $1,141,546.24. This trade represents a 3.56 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,747 shares of company stock valued at $107,728. 2.71% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Heritage Commerce

A number of large investors have recently added to or reduced their stakes in the stock. Quarry LP increased its stake in Heritage Commerce by 562.4% during the 4th quarter. Quarry LP now owns 3,153 shares of the financial services provider’s stock worth $30,000 after buying an additional 2,677 shares in the last quarter. US Bancorp DE lifted its stake in shares of Heritage Commerce by 64.8% in the fourth quarter. US Bancorp DE now owns 3,473 shares of the financial services provider’s stock worth $33,000 after buying an additional 1,365 shares in the last quarter. Two Sigma Securities LLC acquired a new position in Heritage Commerce during the fourth quarter worth about $97,000. Y Intercept Hong Kong Ltd purchased a new stake in Heritage Commerce during the 4th quarter valued at about $99,000. Finally, Oxford Asset Management LLP acquired a new position in Heritage Commerce during the fourth quarter worth $101,000. 75.55% of the stock is currently owned by institutional investors and hedge funds.

About Heritage Commerce

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. Its deposit products for business banking and retail markets include interest and non-interest-bearing demand, savings, and money market accounts, as well as certificates of deposit and time deposits.