Equities analysts expect that Heritage Commerce Corp (NASDAQ:HTBK – Get Rating) will announce sales of $40.14 million for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Heritage Commerce’s earnings. The lowest sales estimate is $39.73 million and the highest is $40.40 million. Heritage Commerce posted sales of $37.26 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 7.7%. The firm is expected to issue its next quarterly earnings results on Monday, January 1st.
According to Zacks, analysts expect that Heritage Commerce will report full year sales of $164.83 million for the current fiscal year, with estimates ranging from $162.78 million to $166.10 million. For the next fiscal year, analysts anticipate that the company will report sales of $182.53 million, with estimates ranging from $180.80 million to $185.30 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Heritage Commerce.
Heritage Commerce (NASDAQ:HTBK – Get Rating) last released its quarterly earnings data on Thursday, January 27th. The financial services provider reported $0.23 earnings per share for the quarter. Heritage Commerce had a net margin of 29.27% and a return on equity of 8.12%. The firm had revenue of $40.92 million for the quarter.
HTBK opened at $11.41 on Tuesday. Heritage Commerce has a fifty-two week low of $10.56 and a fifty-two week high of $12.94. The firm has a market capitalization of $687.68 million, a P/E ratio of 14.26 and a beta of 1.10. The company’s 50-day moving average is $11.65 and its 200 day moving average is $11.79. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.65 and a quick ratio of 0.65.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 24th. Shareholders of record on Thursday, February 10th were given a $0.13 dividend. The ex-dividend date was Wednesday, February 9th. This represents a $0.52 annualized dividend and a yield of 4.56%. Heritage Commerce’s dividend payout ratio is currently 65.00%.
In other news, Director Jason Philip Dinapoli purchased 3,579 shares of the company’s stock in a transaction dated Tuesday, March 1st. The shares were purchased at an average price of $11.38 per share, with a total value of $40,729.02. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Jack W. Conner sold 9,119 shares of the company’s stock in a transaction on Thursday, February 3rd. The shares were sold at an average price of $12.24, for a total value of $111,616.56. The disclosure for this sale can be found here. 4.43% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Quadrant Capital Group LLC lifted its position in shares of Heritage Commerce by 29.5% during the 4th quarter. Quadrant Capital Group LLC now owns 4,589 shares of the financial services provider’s stock valued at $55,000 after buying an additional 1,045 shares during the last quarter. Marshall Wace North America L.P. purchased a new stake in Heritage Commerce during the 1st quarter worth about $56,000. Public Employees Retirement System of Ohio purchased a new stake in Heritage Commerce during the 4th quarter worth about $114,000. Raymond James & Associates purchased a new stake in Heritage Commerce during the 4th quarter worth about $128,000. Finally, Teacher Retirement System of Texas purchased a new stake in Heritage Commerce during the 4th quarter worth about $138,000. 71.25% of the stock is currently owned by hedge funds and other institutional investors.
Heritage Commerce Company Profile (Get Rating)
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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