Zacks: Brokerages Expect Heritage Commerce Corp. (HTBK) Will Announce Earnings of $0.29 Per Share

Analysts forecast that Heritage Commerce Corp. (NASDAQ:HTBK) will announce earnings per share of $0.29 for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Heritage Commerce’s earnings. The highest EPS estimate is $0.29 and the lowest is $0.28. Heritage Commerce posted earnings of $0.22 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 31.8%. The firm is expected to report its next quarterly earnings report on Thursday, January 24th.

On average, analysts expect that Heritage Commerce will report full year earnings of $0.96 per share for the current fiscal year, with EPS estimates ranging from $0.95 to $0.97. For the next fiscal year, analysts anticipate that the company will post earnings of $1.27 per share, with EPS estimates ranging from $1.25 to $1.32. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side analysts that cover Heritage Commerce.

Heritage Commerce (NASDAQ:HTBK) last announced its quarterly earnings data on Thursday, October 25th. The financial services provider reported $0.28 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.01. The firm had revenue of $34.66 million during the quarter, compared to analyst estimates of $34.56 million. Heritage Commerce had a net margin of 15.63% and a return on equity of 11.98%.



HTBK has been the topic of a number of analyst reports. Brean Capital reaffirmed a “buy” rating on shares of Heritage Commerce in a research note on Thursday, August 2nd. BidaskClub upgraded Heritage Commerce from a “strong sell” rating to a “sell” rating in a report on Friday, August 17th. ValuEngine upgraded Heritage Commerce from a “hold” rating to a “buy” rating in a report on Tuesday, July 24th. Raymond James started coverage on Heritage Commerce in a report on Wednesday, July 18th. They set an “outperform” rating and a $19.00 price target on the stock. Finally, Zacks Investment Research downgraded Heritage Commerce from a “hold” rating to a “sell” rating in a research report on Friday, July 20th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. Heritage Commerce has an average rating of “Hold” and an average target price of $18.88.

In related news, Director Jason Philip Dinapoli purchased 5,000 shares of the business’s stock in a transaction dated Monday, August 6th. The stock was acquired at an average price of $14.82 per share, for a total transaction of $74,100.00. Following the completion of the purchase, the director now directly owns 20,000 shares of the company’s stock, valued at $296,400. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 5.40% of the stock is currently owned by insiders.

A number of institutional investors have recently bought and sold shares of HTBK. Schwab Charles Investment Management Inc. lifted its position in shares of Heritage Commerce by 7.8% in the first quarter. Schwab Charles Investment Management Inc. now owns 176,450 shares of the financial services provider’s stock valued at $2,908,000 after acquiring an additional 12,750 shares in the last quarter. Northern Trust Corp grew its stake in shares of Heritage Commerce by 1.3% in the first quarter. Northern Trust Corp now owns 386,815 shares of the financial services provider’s stock valued at $6,374,000 after buying an additional 4,785 shares in the last quarter. BlackRock Inc. grew its stake in shares of Heritage Commerce by 3.6% in the first quarter. BlackRock Inc. now owns 3,002,983 shares of the financial services provider’s stock valued at $49,490,000 after buying an additional 104,434 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Heritage Commerce by 7.5% in the first quarter. Dimensional Fund Advisors LP now owns 1,872,521 shares of the financial services provider’s stock valued at $30,859,000 after buying an additional 131,054 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its stake in shares of Heritage Commerce by 18.7% in the first quarter. Russell Investments Group Ltd. now owns 250,333 shares of the financial services provider’s stock valued at $4,125,000 after buying an additional 39,398 shares in the last quarter. 72.70% of the stock is currently owned by institutional investors.

NASDAQ:HTBK traded up $0.49 during midday trading on Friday, hitting $14.70. The company’s stock had a trading volume of 6,371 shares, compared to its average volume of 181,314. Heritage Commerce has a fifty-two week low of $13.67 and a fifty-two week high of $18.10. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.11. The company has a market cap of $611.16 million, a PE ratio of 18.16, a price-to-earnings-growth ratio of 1.47 and a beta of 0.46.

Heritage Commerce Company Profile

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. It offers a range of deposit products for business banking and retail markets, including interest and non-interest bearing demand, savings accounts, certificate of deposit, money market accounts, and time deposits.

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

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