Analysts predict that Heritage Commerce Corp (NASDAQ:HTBK – Get a rating) will report earnings of $0.20 per share for the current quarter, according to Zacks. Three analysts have made estimates for Heritage Commerce earnings, with estimates ranging from $0.19 to $0.21. Heritage Commerce reported earnings of $0.19 per share in the same quarter last year, which would indicate a positive growth rate of 5.3% year over year. The company is expected to release its next results on Thursday, April 28.
On average, analysts expect Heritage Commerce to report annual earnings of $0.87 per share for the current fiscal year, with EPS estimates ranging from $0.82 to $0.93. For the next fiscal year, analysts expect the company to post earnings of $1.03 per share, with EPS estimates ranging from $0.99 to $1.11. Zacks Investment Research’s earnings per share calculations are an average based on a survey of analysts who cover Heritage Commerce.
Heritage Trading (NASDAQ: HTBK – Get a rating) last released its quarterly results on Thursday, January 27. The financial services provider reported EPS of $0.23 for the quarter, beating the Zacks consensus estimate of $0.22 by $0.01. Heritage Commerce had a return on equity of 8.17% and a net margin of 29.27%.
A number of equity research analysts have published reports on HTBK shares. Stephens launched a hedge on Heritage Commerce shares in a report on Tuesday, December 28. They set an “overweight” rating and a price target of $13.50 for the company. Zacks Investment Research moved Heritage Commerce shares from a “hold” rating to a “buy” rating and set a target price of $14.00 for the company in a Wednesday, Feb. 2 research note. Finally, DA Davidson upgraded Heritage Commerce shares from a “neutral” rating to a “buy” rating and set a $13.50 price target on the stock in a Tuesday, Dec. 14 research note.
In related news, manager Jack W. Conner sold 3,000 shares in a trade dated Tuesday, February 1. The shares were sold at an average price of $12.44, for a total value of $37,320.00. The sale was disclosed in a filing with the Securities & Exchange Commission, available at this hyperlink. Also, director Jack W. Conner sold 9,119 shares of the company in a transaction that took place on Thursday, February 3. The stock was sold at an average price of $12.24, for a total value of $111,616.56. Disclosure of this sale can be found here. Insiders of the company own 4.43% of the shares of the company.
Institutional investors and hedge funds have recently changed their stock holdings. Cramer Rosenthal Mcglynn LLC bought a new position in Heritage Commerce during the third quarter at a value of $15,433,000. FJ Capital Management LLC increased its position in Heritage Commerce by 50.7% in the third quarter. FJ Capital Management LLC now owns 2,015,000 shares of the financial services provider worth $23,440,000 after purchasing an additional 678,000 shares during the period. Granite Investment Partners LLC increased its position in Heritage Commerce by 68.1% in the third quarter. Granite Investment Partners LLC now owns 1,342,469 shares of the financial services provider worth $15,613,000 after purchasing an additional 543,906 shares during the period. Northern Trust Corp increased its stake in Heritage Commerce by 78.1% in the second quarter. Northern Trust Corp now owns 1,100,214 shares of the financial services provider worth $12,246,000 after buying an additional 482,488 shares in the last quarter. Finally, State Street Corp increased its position in Heritage Commerce shares by 11.5% during the second quarter. State Street Corp now owns 2,001,073 shares of the financial services provider valued at $22,272,000 after purchasing an additional 205,733 shares during the period. Institutional investors hold 71.25% of the company’s shares.
HTBK was down $0.36 on Friday, hitting $11.66. 91,512 shares of the company were traded, compared to its average volume of 132,821. The company’s 50-day simple moving average is $12.18 and its 200-day simple moving average is $11.74 . The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt ratio of 0.07. Heritage Commerce has a 1-year low of $9.66 and a 1-year high of $12.94. The company has a market capitalization of $702.75 million, a price-earnings ratio of 14.58 and a beta of 1.12.
The company also recently announced a quarterly dividend, which was paid on Thursday, February 24. Shareholders of record on Thursday, February 10 received a dividend of $0.13 per share. The ex-dividend date was Wednesday, February 9. This represents a dividend of $0.52 on an annualized basis and a dividend yield of 4.46%. Heritage Commerce’s dividend payout ratio is currently 65.00%.
About the Heritage Trade (Get a rating)
Heritage Commerce Corp. is a holding company that provides banking services. It operates through the following banking and factoring segments. The Banking segment includes the results of operations of the holding company. The Factoring segment focuses on factoring generated by Bay View financing. The company was founded in 1997 and is based in San Jose, California.
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