Heritage Commerce (NASDAQ:HTBK) posted its earnings results on Thursday. The financial services provider reported $0.28 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.28, Bloomberg Earnings reports. Heritage Commerce had a return on equity of 13.05% and a net margin of 25.34%. The company had revenue of $33.51 million for the quarter, compared to the consensus estimate of $35.23 million.
HTBK traded down $0.45 during midday trading on Friday, reaching $12.18. The company had a trading volume of 194,171 shares, compared to its average volume of 139,303. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.11. The stock has a market cap of $547.18 million, a price-to-earnings ratio of 11.49, a PEG ratio of 1.49 and a beta of 0.87. Heritage Commerce has a 1 year low of $10.84 and a 1 year high of $18.10.
The company also recently announced a quarterly dividend, which will be paid on Thursday, May 23rd. Shareholders of record on Thursday, May 9th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 3.94%. The ex-dividend date of this dividend is Wednesday, May 8th. Heritage Commerce’s dividend payout ratio is 45.28%.
A number of research analysts have weighed in on HTBK shares. ValuEngine downgraded Heritage Commerce from a “sell” rating to a “strong sell” rating in a report on Wednesday, March 20th. Zacks Investment Research raised Heritage Commerce from a “hold” rating to a “buy” rating and set a $14.00 target price on the stock in a report on Wednesday, March 27th. BidaskClub downgraded Heritage Commerce from a “hold” rating to a “sell” rating in a report on Saturday, March 9th. Finally, Brean Capital reissued a “buy” rating on shares of Heritage Commerce in a report on Tuesday, February 26th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. Heritage Commerce has a consensus rating of “Hold” and an average price target of $17.00.
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About Heritage Commerce
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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