$0.19 Earnings Per Share Expected for Heritage Commerce Corp (NASDAQ:HTBK) This Quarter

Wall Street brokerages expect Heritage Commerce Corp (NASDAQ:HTBK) to announce $0.19 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Heritage Commerce’s earnings. The lowest EPS estimate is $0.18 and the highest is $0.20. Heritage Commerce posted earnings per share of $0.18 during the same quarter last year, which would suggest a positive year over year growth rate of 5.6%. The firm is expected to report its next quarterly earnings report on Thursday, July 22nd.

On average, analysts expect that Heritage Commerce will report full-year earnings of $0.74 per share for the current fiscal year, with EPS estimates ranging from $0.70 to $0.82. For the next year, analysts expect that the company will post earnings of $0.73 per share, with EPS estimates ranging from $0.65 to $0.90. Zacks Investment Research’s EPS calculations are an average based on a survey of research firms that follow Heritage Commerce.

Heritage Commerce (NASDAQ:HTBK) last posted its quarterly earnings results on Thursday, April 22nd. The financial services provider reported $0.19 EPS for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.01. Heritage Commerce had a return on equity of 7.76% and a net margin of 28.74%. The company had revenue of $37.26 million for the quarter, compared to analysts’ expectations of $37.99 million.

A number of analysts have issued reports on the company. Raymond James lifted their price objective on Heritage Commerce from $10.00 to $13.00 and gave the stock an “outperform” rating in a research note on Monday, April 26th. Zacks Investment Research downgraded Heritage Commerce from a “buy” rating to a “hold” rating in a research note on Wednesday, April 28th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $11.13.

NASDAQ:HTBK traded down $0.06 during trading hours on Thursday, reaching $11.75. The stock had a trading volume of 543,143 shares, compared to its average volume of 298,356. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.64 and a quick ratio of 0.64. Heritage Commerce has a 52 week low of $6.13 and a 52 week high of $12.65. The company’s 50 day moving average price is $12.03. The company has a market capitalization of $706.21 million, a PE ratio of 15.75 and a beta of 1.24.

The business also recently announced a quarterly dividend, which was paid on Thursday, May 27th. Stockholders of record on Thursday, May 13th were given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 4.43%. The ex-dividend date was Wednesday, May 12th. Heritage Commerce’s dividend payout ratio is currently 82.54%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD increased its position in shares of Heritage Commerce by 3.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,945,413 shares of the financial services provider’s stock valued at $61,606,000 after purchasing an additional 236,430 shares during the last quarter. BlackRock Inc. increased its position in shares of Heritage Commerce by 17.2% during the 1st quarter. BlackRock Inc. now owns 5,662,047 shares of the financial services provider’s stock valued at $69,191,000 after purchasing an additional 832,326 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Heritage Commerce by 0.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,722,152 shares of the financial services provider’s stock valued at $33,264,000 after purchasing an additional 17,208 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Heritage Commerce by 31.2% during the 1st quarter. Bank of New York Mellon Corp now owns 1,873,303 shares of the financial services provider’s stock valued at $22,891,000 after purchasing an additional 445,470 shares during the last quarter. Finally, Banc Funds Co. LLC increased its position in shares of Heritage Commerce by 56.1% during the 1st quarter. Banc Funds Co. LLC now owns 1,434,882 shares of the financial services provider’s stock valued at $17,534,000 after purchasing an additional 515,852 shares during the last quarter. 70.93% of the stock is currently owned by hedge funds and other institutional investors.

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.

See Also: Net Income

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

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