Heritage Commerce Corp (NASDAQ:HTBK - Free Report) - Equities researchers at DA Davidson reduced their FY2024 earnings per share (EPS) estimates for shares of Heritage Commerce in a research note issued on Thursday, October 3rd. DA Davidson analyst G. Tenner now forecasts that the financial services provider will post earnings per share of $0.64 for the year, down from their previous estimate of $0.65. The consensus estimate for Heritage Commerce's current full-year earnings is $0.66 per share. DA Davidson also issued estimates for Heritage Commerce's FY2025 earnings at $0.69 EPS.
Several other research firms have also recently weighed in on HTBK. Keefe, Bruyette & Woods raised their price target on Heritage Commerce from $10.50 to $11.50 and gave the company an "outperform" rating in a report on Friday, July 26th. StockNews.com cut Heritage Commerce from a "hold" rating to a "sell" rating in a report on Wednesday, July 10th. Finally, Piper Sandler raised their price target on Heritage Commerce from $10.00 to $12.00 and gave the company an "overweight" rating in a report on Friday, July 26th.
Check Out Our Latest Report on HTBK
Heritage Commerce Price Performance
NASDAQ HTBK traded up $0.12 during trading on Friday, hitting $9.54. 246,829 shares of the stock traded hands, compared to its average volume of 398,344. The company has a market capitalization of $584.38 million, a P/E ratio of 10.35 and a beta of 0.93. The firm has a 50-day simple moving average of $9.89 and a 200-day simple moving average of $8.92. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.06. Heritage Commerce has a 12-month low of $7.66 and a 12-month high of $10.99.
Heritage Commerce (NASDAQ:HTBK - Get Free Report) last released its quarterly earnings results on Friday, July 26th. The financial services provider reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.04). The firm had revenue of $61.35 million for the quarter, compared to analysts' expectations of $43.35 million. Heritage Commerce had a net margin of 19.82% and a return on equity of 7.21%.
Heritage Commerce Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 5.45%. The ex-dividend date was Thursday, August 8th. Heritage Commerce's dividend payout ratio (DPR) is 56.52%.
Hedge Funds Weigh In On Heritage Commerce
Institutional investors and hedge funds have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC boosted its holdings in shares of Heritage Commerce by 185.5% in 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 period. CWM LLC boosted its holdings in Heritage Commerce by 148.0% during the 2nd quarter. CWM LLC now owns 9,936 shares of the financial services provider's stock valued at $86,000 after acquiring an additional 5,929 shares during the period. ProShare Advisors LLC purchased a new position in Heritage Commerce during the 1st quarter valued at $91,000. Norden Group LLC purchased a new position in Heritage Commerce during the 1st quarter valued at $111,000. Finally, Susquehanna Fundamental Investments LLC purchased a new position in Heritage Commerce during the 2nd quarter valued at $114,000. Hedge funds and other institutional investors own 75.55% of the company's stock.
About Heritage Commerce
(
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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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