Q2 2022 Earnings Estimate for Heritage Commerce Corp Issued By DA Davidson (NASDAQ:HTBK)

Heritage Commerce Corp (NASDAQ:HTBKGet Rating) – Investment analysts at DA Davidson issued their Q2 2022 EPS estimates for Heritage Commerce in a research note issued to investors on Monday, May 2nd. DA Davidson analyst G. Tenner expects that the financial services provider will post earnings per share of $0.23 for the quarter. DA Davidson also issued estimates for Heritage Commerce’s FY2022 earnings at $1.00 EPS and FY2023 earnings at $1.25 EPS.

Heritage Commerce (NASDAQ:HTBKGet Rating) last issued its quarterly earnings data on Thursday, April 28th. The financial services provider reported $0.21 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.01. Heritage Commerce had a net margin of 29.69% and a return on equity of 8.36%.

A number of other equities research analysts also recently issued reports on the stock. StockNews.com assumed coverage on shares of Heritage Commerce in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Zacks Investment Research upgraded shares of Heritage Commerce from a “hold” rating to a “buy” rating and set a $13.00 price objective on the stock in a research note on Tuesday, April 5th.

Shares of Heritage Commerce stock opened at $11.14 on Tuesday. The company has a market capitalization of $672.97 million, a price-to-earnings ratio of 13.59 and a beta of 1.02. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.07. Heritage Commerce has a 12-month low of $10.56 and a 12-month high of $12.94. The firm’s 50-day moving average price is $11.49 and its two-hundred day moving average price is $11.77.

Several institutional investors have recently added to or reduced their stakes in HTBK. Granite Investment Partners LLC boosted its position in Heritage Commerce by 14.0% in the first quarter. Granite Investment Partners LLC now owns 1,606,625 shares of the financial services provider’s stock worth $18,075,000 after purchasing an additional 197,301 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of Heritage Commerce in the first quarter worth about $28,000. Tiedemann Advisors LLC raised its stake in Heritage Commerce by 0.7% during the 1st quarter. Tiedemann Advisors LLC now owns 623,848 shares of the financial services provider’s stock valued at $7,018,000 after purchasing an additional 4,500 shares during the period. Assenagon Asset Management S.A. bought a new stake in Heritage Commerce during the 1st quarter valued at approximately $2,470,000. Finally, Truist Financial Corp raised its stake in Heritage Commerce by 5.5% during the 1st quarter. Truist Financial Corp now owns 28,171 shares of the financial services provider’s stock valued at $317,000 after purchasing an additional 1,481 shares during the period. 71.49% of the stock is currently owned by institutional investors.

In related news, Director Jason Philip Dinapoli purchased 3,579 shares of the firm’s stock in a transaction dated Tuesday, March 1st. The shares were purchased at an average cost of $11.38 per share, for a total transaction of $40,729.02. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jack W. Conner sold 9,119 shares of the business’s stock in a transaction dated Thursday, February 3rd. The stock was 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. 4.05% of the stock is currently owned by company insiders.

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 26th. Shareholders of record on Thursday, May 12th will be issued a dividend of $0.13 per share. The ex-dividend date of this dividend is Wednesday, May 11th. This represents a $0.52 annualized dividend and a yield of 4.67%. Heritage Commerce’s payout ratio is 63.41%.

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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Earnings History and Estimates for Heritage Commerce (NASDAQ:HTBK)

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