Heritage Commerce (NASDAQ:HTBK - Get Free Report) posted its quarterly earnings data on Thursday. The financial services provider reported $0.17 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.17, Zacks reports. The business had revenue of $63.68 million during the quarter, compared to the consensus estimate of $43.14 million. Heritage Commerce had a return on equity of 7.21% and a net margin of 19.82%.
Heritage Commerce Stock Down 1.9 %
Shares of NASDAQ HTBK traded down $0.18 during trading hours on Friday, hitting $9.51. The company had a trading volume of 255,574 shares, compared to its average volume of 300,651. Heritage Commerce has a 1-year low of $7.66 and a 1-year high of $10.99. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.06. The firm's 50 day moving average is $9.83 and its 200-day moving average is $9.08. The stock has a market capitalization of $582.54 million, a P/E ratio of 10.34 and a beta of 0.93.
Heritage Commerce Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th will be paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 5.47%. The ex-dividend date is Thursday, November 7th. Heritage Commerce's dividend payout ratio is currently 56.52%.
Analysts Set New Price Targets
HTBK has been the subject of several research reports. StockNews.com cut shares of Heritage Commerce from a "hold" rating to a "sell" rating in a research note on Wednesday, July 10th. Piper Sandler raised their target price on shares of Heritage Commerce from $10.00 to $12.00 and gave the company an "overweight" rating in a research report on Friday, July 26th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Heritage Commerce from $10.50 to $11.50 and gave the company an "outperform" rating in a research note on Friday, July 26th.
Get Our Latest Stock Analysis on Heritage Commerce
Heritage Commerce Company Profile
(
Get Free Report)
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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