Heritage Commerce Corp (NASDAQ:HTBK) Expected to Earn Q2 2024 Earnings of $0.19 Per Share

Heritage Commerce Corp (NASDAQ:HTBK) – Research analysts at DA Davidson issued their Q2 2024 earnings estimates for shares of Heritage Commerce in a research note issued to investors on Monday, April 29th. DA Davidson analyst G. Tenner expects that the financial services provider will earn $0.19 per share for the quarter. The consensus estimate for Heritage Commerce’s current full-year earnings is $0.79 per share. DA Davidson also issued estimates for Heritage Commerce’s FY2024 earnings at $0.75 EPS and FY2025 earnings at $0.82 EPS.

A number of other brokerages also recently commented on HTBK. Piper Sandler cut their price objective on shares of Heritage Commerce from $11.00 to $10.00 and set an “overweight” rating for the company in a research report on Friday. Keefe, Bruyette & Woods reduced their price objective on shares of Heritage Commerce from $12.00 to $11.00 and set an “outperform” rating for the company in a research report on Friday, January 26th. StockNews.com lowered Heritage Commerce from a “hold” rating to a “sell” rating in a report on Tuesday. Finally, Raymond James increased their target price on Heritage Commerce from $9.50 to $11.00 and gave the stock an “outperform” rating in a research note on Friday, January 5th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $10.50.

Heritage Commerce Price Performance

Shares of NASDAQ HTBK opened at $8.02 on Tuesday. The stock has a fifty day moving average price of $8.24 and a 200 day moving average price of $8.70. Heritage Commerce has a 1-year low of $6.69 and a 1-year high of $10.22. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.77 and a quick ratio of 0.77. The company has a market cap of $491.23 million, a PE ratio of 8.72 and a beta of 0.90.

Heritage Commerce Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 23rd. Investors of record on Thursday, May 9th will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 6.48%. The ex-dividend date is Wednesday, May 8th. Heritage Commerce’s dividend payout ratio is currently 56.52%.

Insider Buying and Selling

In other Heritage Commerce news, Director Jack W. Conner sold 6,944 shares of the firm’s stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $8.92, for a total transaction of $61,940.48. Following the completion of the transaction, the director now directly owns 102,501 shares in the company, valued at approximately $914,308.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.99% of the stock is currently owned by insiders.

Institutional Trading of Heritage Commerce

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HTBK. Allspring Global Investments Holdings LLC boosted its stake in shares of Heritage Commerce by 185.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 4,856 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 3,155 shares during the last quarter. Lindbrook Capital LLC grew its stake in Heritage Commerce by 47.7% in the 4th quarter. Lindbrook Capital LLC now owns 4,780 shares of the financial services provider’s stock worth $47,000 after acquiring an additional 1,543 shares during the period. GAMMA Investing LLC acquired a new position in Heritage Commerce in the 4th quarter valued at $49,000. Norden Group LLC acquired a new stake in shares of Heritage Commerce during the first quarter worth $111,000. Finally, Public Employees Retirement System of Ohio grew its position in shares of Heritage Commerce by 1,070.2% in the fourth quarter. Public Employees Retirement System of Ohio now owns 12,299 shares of the financial services provider’s stock valued at $122,000 after purchasing an additional 11,248 shares during the period. Hedge funds and other institutional investors own 75.55% of the company’s stock.

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.