Equities analysts expect Heritage Commerce Corp (NASDAQ:HTBK) to report $38.11 million in sales for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Heritage Commerce’s earnings. The lowest sales estimate is $37.60 million and the highest is $38.53 million. Heritage Commerce posted sales of $37.02 million during the same quarter last year, which suggests a positive year-over-year growth rate of 2.9%. The company is expected to issue its next quarterly earnings report on Thursday, July 22nd.
On average, analysts expect that Heritage Commerce will report full-year sales of $150.11 million for the current year, with estimates ranging from $148.20 million to $153.70 million. For the next fiscal year, analysts anticipate that the company will report sales of $157.43 million, with estimates ranging from $148.49 million to $166.80 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Heritage Commerce.
Heritage Commerce (NASDAQ:HTBK) last posted its earnings results on Thursday, April 22nd. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.01. Heritage Commerce had a return on equity of 7.76% and a net margin of 28.74%. The firm had revenue of $37.26 million during the quarter, compared to analysts’ expectations of $37.99 million.
Hedge funds have recently bought and sold shares of the company. Benjamin Edwards Inc. boosted its position in shares of Heritage Commerce by 161.9% during the first quarter. Benjamin Edwards Inc. now owns 3,926 shares of the financial services provider’s stock worth $48,000 after buying an additional 2,427 shares during the period. Marshall Wace North America L.P. acquired a new position in shares of Heritage Commerce during the first quarter worth about $56,000. Eaton Vance Management bought a new stake in Heritage Commerce during the first quarter worth about $67,000. Nisa Investment Advisors LLC raised its holdings in Heritage Commerce by 48.5% during the fourth quarter. Nisa Investment Advisors LLC now owns 10,100 shares of the financial services provider’s stock worth $90,000 after acquiring an additional 3,300 shares in the last quarter. Finally, Corient Capital Partners LLC raised its holdings in Heritage Commerce by 17.2% during the fourth quarter. Corient Capital Partners LLC now owns 12,148 shares of the financial services provider’s stock worth $108,000 after acquiring an additional 1,786 shares in the last quarter. 70.93% of the stock is owned by institutional investors.
NASDAQ:HTBK traded down $0.06 on Friday, reaching $11.75. The company’s stock had a trading volume of 543,143 shares, compared to its average volume of 298,356. Heritage Commerce has a 1-year low of $6.13 and a 1-year high of $12.65. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.07. The stock has a market cap of $706.21 million, a price-to-earnings ratio of 15.75 and a beta of 1.24. The stock’s 50-day moving average price is $12.03.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 27th. Stockholders of record on Thursday, May 13th were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Wednesday, May 12th. This represents a $0.52 annualized dividend and a dividend yield of 4.43%. Heritage Commerce’s dividend payout ratio is currently 82.54%.
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.
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