Analysts expect Heritage Commerce Corp. (NASDAQ:HTBK) to post sales of $29.65 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Heritage Commerce’s earnings, with the lowest sales estimate coming in at $29.50 million and the highest estimate coming in at $29.80 million. Heritage Commerce reported sales of $26.16 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 13.3%. The business is scheduled to announce its next earnings report on Thursday, January 25th.
On average, analysts expect that Heritage Commerce will report full-year sales of $29.65 million for the current financial year, with estimates ranging from $111.90 million to $112.50 million. For the next fiscal year, analysts expect that the business will report sales of $128.65 million per share, with estimates ranging from $127.70 million to $129.60 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Heritage Commerce.
Heritage Commerce (NASDAQ:HTBK) last announced its earnings results on Thursday, October 26th. The financial services provider reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.01. Heritage Commerce had a return on equity of 11.15% and a net margin of 26.40%. The firm had revenue of $28.78 million during the quarter, compared to analyst estimates of $28.70 million.
Several research analysts have recently issued reports on HTBK shares. BidaskClub lowered Heritage Commerce from a “buy” rating to a “hold” rating in a research report on Tuesday, December 19th. Brean Capital set a $16.00 target price on Heritage Commerce and gave the stock a “buy” rating in a research report on Monday, October 23rd. Zacks Investment Research raised Heritage Commerce from a “hold” rating to a “buy” rating and set a $17.00 target price for the company in a research report on Tuesday, October 31st. Finally, ValuEngine lowered Heritage Commerce from a “buy” rating to a “hold” rating in a research report on Saturday, December 9th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. Heritage Commerce presently has an average rating of “Hold” and a consensus price target of $16.67.
Shares of Heritage Commerce (NASDAQ HTBK) remained flat at $$15.38 during trading hours on Friday. The company had a trading volume of 183,600 shares, compared to its average volume of 214,867. Heritage Commerce has a 12-month low of $12.76 and a 12-month high of $16.63. The stock has a market cap of $587.53, a P/E ratio of 19.97, a price-to-earnings-growth ratio of 1.50 and a beta of 0.51. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.76 and a current ratio of 0.77.
Several institutional investors have recently bought and sold shares of HTBK. Westwood Holdings Group Inc. grew its stake in shares of Heritage Commerce by 31.6% in the 2nd quarter. Westwood Holdings Group Inc. now owns 1,002,565 shares of the financial services provider’s stock worth $13,815,000 after buying an additional 240,467 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Heritage Commerce by 11.2% in the 2nd quarter. Vanguard Group Inc. now owns 1,550,961 shares of the financial services provider’s stock worth $21,373,000 after buying an additional 155,957 shares during the last quarter. State Street Corp grew its stake in shares of Heritage Commerce by 36.1% in the 2nd quarter. State Street Corp now owns 558,166 shares of the financial services provider’s stock worth $7,693,000 after buying an additional 148,073 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Heritage Commerce by 7.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,569,841 shares of the financial services provider’s stock worth $21,633,000 after buying an additional 109,558 shares during the last quarter. Finally, Penn Capital Management Co. Inc. grew its stake in shares of Heritage Commerce by 96.3% in the 2nd quarter. Penn Capital Management Co. Inc. now owns 220,836 shares of the financial services provider’s stock worth $3,043,000 after buying an additional 108,314 shares during the last quarter. Institutional investors own 69.98% of the company’s stock.
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About Heritage Commerce
Heritage Commerce Corp is a bank holding company. The Company, through its subsidiary Heritage Bank of Commerce (the Bank), provides a range of banking services. The Bank is a California state-chartered multi-community independent bank that offers a range of commercial banking services to small and medium-sized businesses and their owners, managers and employees.
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