Wall Street brokerages predict that Heritage Commerce Corp. (NASDAQ:HTBK) will report earnings of $0.24 per share for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Heritage Commerce’s earnings, with estimates ranging from $0.23 to $0.24. Heritage Commerce posted earnings per share of $0.19 in the same quarter last year, which would indicate a positive year-over-year growth rate of 26.3%. The company is expected to report its next quarterly earnings results on Thursday, January 25th.
According to Zacks, analysts expect that Heritage Commerce will report full year earnings of $0.82 per share for the current fiscal year, with EPS estimates ranging from $0.81 to $0.83. For the next financial year, analysts forecast that the firm will report earnings of $1.03 per share, with EPS estimates ranging from $0.90 to $1.15. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Heritage Commerce.
Heritage Commerce (NASDAQ:HTBK) last announced its earnings results on Thursday, October 26th. The financial services provider reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.01. The business had revenue of $28.78 million for the quarter, compared to analysts’ expectations of $28.70 million. Heritage Commerce had a net margin of 26.40% and a return on equity of 11.15%.
A number of equities analysts have recently commented on the stock. Brean Capital reaffirmed a “buy” rating on shares of Heritage Commerce in a report on Tuesday. Zacks Investment Research raised shares of Heritage Commerce from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a report on Wednesday, September 27th. BidaskClub cut shares of Heritage Commerce from a “hold” rating to a “sell” rating in a report on Wednesday, December 27th. Finally, ValuEngine cut shares of Heritage Commerce from a “buy” rating to a “hold” rating in a report on Saturday, December 9th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. Heritage Commerce has an average rating of “Hold” and a consensus price target of $16.67.
Heritage Commerce (NASDAQ:HTBK) opened at $15.60 on Wednesday. The company has a market cap of $587.53, a price-to-earnings ratio of 19.97, a PEG ratio of 1.50 and a beta of 0.51. Heritage Commerce has a 1-year low of $12.76 and a 1-year high of $16.63. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.77 and a quick ratio of 0.76.
A number of institutional investors and hedge funds have recently made changes to their positions in HTBK. Schwab Charles Investment Management Inc. increased its stake 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 buying an additional 13,000 shares during the period. Rhumbline Advisers increased its stake in Heritage Commerce by 31.1% in the 2nd quarter. Rhumbline Advisers now owns 41,182 shares of the financial services provider’s stock valued at $567,000 after buying an additional 9,777 shares during the period. Bank of New York Mellon Corp increased its stake 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 buying an additional 53,148 shares during the period. Legal & General Group Plc increased its stake 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 buying an additional 1,339 shares during the period. Finally, Victory Capital Management Inc. increased its stake in Heritage Commerce by 12.1% in the 2nd quarter. Victory Capital Management Inc. now owns 92,850 shares of the financial services provider’s stock valued at $1,279,000 after buying an additional 10,035 shares during the period. 69.98% of the stock is currently owned by institutional investors.
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Heritage Commerce 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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