Brokerages expect Heritage Commerce Corp. (NASDAQ:HTBK) to post sales of $35.17 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Heritage Commerce’s earnings. The lowest sales estimate is $35.00 million and the highest is $35.50 million. Heritage Commerce reported sales of $29.01 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 21.2%. The firm is scheduled to announce its next earnings results on Thursday, January 24th.
According to Zacks, analysts expect that Heritage Commerce will report full-year sales of $131.00 million for the current year, with estimates ranging from $130.70 million to $131.20 million. For the next year, analysts expect that the company will post sales of $146.50 million, with estimates ranging from $144.80 million to $149.70 million. Zacks’ sales calculations are an average based on a survey of research firms that cover Heritage Commerce.
Heritage Commerce (NASDAQ:HTBK) last issued its quarterly earnings data on Thursday, October 25th. The financial services provider reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. Heritage Commerce had a net margin of 17.74% and a return on equity of 12.45%. The business had revenue of $34.66 million for the quarter, compared to analysts’ expectations of $34.56 million.
Shares of NASDAQ HTBK remained flat at $$14.23 during midday trading on Friday. 29,896 shares of the company were exchanged, compared to its average volume of 146,648. 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 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $615.86 million, a PE ratio of 17.79, a P/E/G ratio of 2.07 and a beta of 0.48.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 20th. Shareholders of record on Tuesday, November 6th were given a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 3.09%. The ex-dividend date was Monday, November 5th. Heritage Commerce’s dividend payout ratio (DPR) is presently 55.00%.
In related news, Director Jason Philip Dinapoli acquired 10,000 shares of the business’s stock in a transaction on Tuesday, October 30th. The shares were purchased at an average price of $14.69 per share, for a total transaction of $146,900.00. Following the acquisition, the director now owns 20,000 shares in the company, valued at $293,800. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Jack W. Conner acquired 10,418 shares of the business’s stock in a transaction on Monday, November 12th. The shares were bought at an average price of $14.42 per share, for a total transaction of $150,227.56. Following the acquisition, the director now owns 68,756 shares in the company, valued at approximately $991,461.52. The disclosure for this purchase can be found here. 5.40% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of HTBK. Meeder Asset Management Inc. raised its holdings in Heritage Commerce by 100.3% during the 3rd quarter. Meeder Asset Management Inc. now owns 7,088 shares of the financial services provider’s stock worth $106,000 after buying an additional 3,549 shares during the period. Stevens Capital Management LP acquired a new stake in Heritage Commerce during the 3rd quarter worth about $161,000. Engineers Gate Manager LP acquired a new stake in Heritage Commerce during the 2nd quarter worth about $241,000. MetLife Investment Advisors LLC raised its holdings in Heritage Commerce by 55.1% during the 3rd quarter. MetLife Investment Advisors LLC now owns 27,683 shares of the financial services provider’s stock worth $413,000 after buying an additional 9,829 shares during the period. Finally, Globeflex Capital L P raised its holdings in Heritage Commerce by 18.3% during the 2nd quarter. Globeflex Capital L P now owns 32,900 shares of the financial services provider’s stock worth $559,000 after buying an additional 5,100 shares during the period. Hedge funds and other institutional investors own 73.61% 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. 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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