What is DA Davidson's Forecast for HTBK Q4 Earnings?

Heritage Commerce Corp (NASDAQ:HTBK - Free Report) - Stock analysts at DA Davidson issued their Q4 2024 earnings estimates for Heritage Commerce in a research note issued to investors on Monday, October 28th. DA Davidson analyst G. Tenner anticipates that the financial services provider will post earnings of $0.18 per share for the quarter. The consensus estimate for Heritage Commerce's current full-year earnings is $0.65 per share.

Heritage Commerce (NASDAQ:HTBK - Get Free Report) last released its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.17 EPS for the quarter, hitting analysts' consensus estimates of $0.17. The firm had revenue of $63.68 million for the quarter, compared to the consensus estimate of $43.14 million. Heritage Commerce had a net margin of 19.82% and a return on equity of 7.21%.

A number of other analysts also recently commented on HTBK. Piper Sandler boosted their price objective on shares of Heritage Commerce from $10.00 to $12.00 and gave the stock an "overweight" rating in a report on Friday, July 26th. Keefe, Bruyette & Woods upped their price target on shares of Heritage Commerce from $10.50 to $11.50 and gave the company an "outperform" rating in a report on Friday, July 26th. Finally, StockNews.com downgraded shares of Heritage Commerce from a "hold" rating to a "sell" rating in a report on Wednesday, July 10th.

Heritage Commerce Price Performance

HTBK stock traded down $0.10 during trading on Tuesday, reaching $9.88. 371,468 shares of the company were exchanged, compared to its average volume of 390,941. The company has a market cap of $605.21 million, a P/E ratio of 10.74 and a beta of 0.93. Heritage Commerce has a 52-week low of $7.66 and a 52-week high of $10.99. The stock's 50 day moving average price is $9.84 and its 200 day moving average price is $9.11. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.76 and a current ratio of 0.76.

Heritage Commerce Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 5.26%. The ex-dividend date is Thursday, November 7th. Heritage Commerce's dividend payout ratio (DPR) is presently 56.52%.

Hedge Funds Weigh In On Heritage Commerce

Several institutional investors and hedge funds have recently modified their holdings of HTBK. Assenagon Asset Management S.A. lifted its stake in shares of Heritage Commerce by 830.2% during the second quarter. Assenagon Asset Management S.A. now owns 1,024,377 shares of the financial services provider's stock valued at $8,912,000 after buying an additional 914,249 shares during the period. American Century Companies Inc. grew its holdings in Heritage Commerce by 21.2% during the 2nd quarter. American Century Companies Inc. now owns 921,389 shares of the financial services provider's stock valued at $8,016,000 after purchasing an additional 160,977 shares in the last quarter. EJF Capital LLC acquired a new stake in Heritage Commerce during the 1st quarter valued at $1,321,000. AQR Capital Management LLC grew its holdings in Heritage Commerce by 32.5% during the 2nd quarter. AQR Capital Management LLC now owns 544,471 shares of the financial services provider's stock valued at $4,737,000 after purchasing an additional 133,514 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in Heritage Commerce by 3.9% during the 1st quarter. Vanguard Group Inc. now owns 3,309,141 shares of the financial services provider's stock valued at $28,392,000 after purchasing an additional 123,973 shares in the last quarter. Hedge funds and other institutional investors own 75.55% of the company's stock.

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. 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.