$0.19 EPS Expected for Heritage Commerce Corp (NASDAQ:HTBK) This Quarter


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Brokerages expect Heritage Commerce Corp (NASDAQ:HTBK) to post earnings per share of $0.19 for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Heritage Commerce’s earnings. The highest EPS estimate is $0.20 and the lowest is $0.18. Heritage Commerce posted earnings per share of $0.18 during the same quarter last year, which suggests a positive year-over-year growth rate of 5.6%. The company is expected to announce its next earnings results on Thursday, July 22nd.

According to Zacks, 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 anticipate that the firm will post earnings of $0.73 per share, with EPS estimates ranging from $0.65 to $0.90. Zacks’ 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 released its quarterly earnings results on Thursday, April 22nd. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.01. Heritage Commerce had a return on equity of 7.17% and a net margin of 17.58%.

Several brokerages recently commented on HTBK. Raymond James upped their target price on Heritage Commerce from $10.00 to $13.00 and gave the company an “outperform” rating in a research report on Monday. Zacks Investment Research lowered Heritage Commerce from a “buy” rating to a “hold” rating in a report on Wednesday, April 28th. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $11.13.

Shares of Heritage Commerce stock traded up $0.05 during trading on Tuesday, reaching $12.30. 110,325 shares of the company’s stock were exchanged, compared to its average volume of 340,848. Heritage Commerce has a 1-year low of $6.13 and a 1-year high of $12.51. The firm’s 50-day moving average price is $12.04 and its 200 day moving average price is $9.67. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.70 and a current ratio of 0.70. The company has a market cap of $737.02 million, a P/E ratio of 24.50 and a beta of 1.26.

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 27th. Stockholders of record on Thursday, May 13th will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 4.23%. The ex-dividend date of this dividend is Wednesday, May 12th. Heritage Commerce’s payout ratio is currently 48.60%.

A number of large investors have recently bought and sold shares of HTBK. HoldCo Asset Management L.P. bought a new stake in Heritage Commerce during the fourth quarter valued at $3,513,000. Price T Rowe Associates Inc. MD increased its holdings in shares of Heritage Commerce by 3.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,945,413 shares of the financial services provider’s stock worth $61,606,000 after buying an additional 236,430 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Heritage Commerce by 49.8% in the fourth quarter. JPMorgan Chase & Co. now owns 578,150 shares of the financial services provider’s stock worth $5,128,000 after buying an additional 192,136 shares during the period. Banc Funds Co. LLC increased its holdings in shares of Heritage Commerce by 24.7% in the fourth quarter. Banc Funds Co. LLC now owns 919,030 shares of the financial services provider’s stock worth $8,152,000 after buying an additional 181,886 shares during the period. Finally, BlackRock Inc. increased its holdings in shares of Heritage Commerce by 3.1% in the fourth quarter. BlackRock Inc. now owns 4,829,721 shares of the financial services provider’s stock worth $42,840,000 after buying an additional 144,694 shares during the period. 68.41% of the stock is owned by 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.

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

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