Equities analysts predict that Heritage Commerce Corp. (NASDAQ:HTBK) will report $34.97 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Heritage Commerce’s earnings, with the highest sales estimate coming in at $35.00 million and the lowest estimate coming in at $34.90 million. Heritage Commerce posted sales of $34.66 million during the same quarter last year, which suggests a positive year over year growth rate of 0.9%. The business is expected to report its next quarterly earnings results on Thursday, October 24th.
According to Zacks, analysts expect that Heritage Commerce will report full-year sales of $146.67 million for the current fiscal year, with estimates ranging from $143.70 million to $148.70 million. For the next year, analysts expect that the firm will post sales of $189.10 million, with estimates ranging from $188.30 million to $189.80 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Heritage Commerce.
Several brokerages recently issued reports on HTBK. ValuEngine raised Heritage Commerce from a “strong sell” rating to a “sell” rating in a research report on Thursday. Zacks Investment Research lowered Heritage Commerce from a “hold” rating to a “sell” rating in a research report on Wednesday, July 24th. Finally, Brean Capital lowered Heritage Commerce from a “buy” rating to a “hold” rating in a research report on Friday, April 26th.
Hedge funds have recently bought and sold shares of the company. Los Angeles Capital Management & Equity Research Inc. raised its position in shares of Heritage Commerce by 45.1% in the 1st quarter. Los Angeles Capital Management & Equity Research Inc. now owns 29,348 shares of the financial services provider’s stock worth $355,000 after acquiring an additional 9,120 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Heritage Commerce by 3.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,221,513 shares of the financial services provider’s stock valued at $25,192,000 after buying an additional 76,529 shares in the last quarter. Bank of New York Mellon Corp increased its position in Heritage Commerce by 0.4% in the 4th quarter. Bank of New York Mellon Corp now owns 246,121 shares of the financial services provider’s stock valued at $2,791,000 after buying an additional 1,054 shares in the last quarter. Citigroup Inc. increased its position in Heritage Commerce by 81.0% in the 4th quarter. Citigroup Inc. now owns 18,718 shares of the financial services provider’s stock valued at $212,000 after buying an additional 8,374 shares in the last quarter. Finally, Security National Bank increased its position in Heritage Commerce by 6.7% in the 2nd quarter. Security National Bank now owns 217,883 shares of the financial services provider’s stock valued at $2,669,000 after buying an additional 13,688 shares in the last quarter. 74.28% of the stock is owned by hedge funds and other institutional investors.
NASDAQ:HTBK traded down $0.21 during trading hours on Friday, hitting $11.82. 141,429 shares of the company were exchanged, compared to its average volume of 173,558. The company has a market cap of $538.08 million, a PE ratio of 11.15, a price-to-earnings-growth ratio of 1.65 and a beta of 0.83. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.10. Heritage Commerce has a one year low of $10.84 and a one year high of $16.19. The business’s fifty day moving average is $12.17.
The business also recently announced a quarterly dividend, which will be paid on Thursday, August 22nd. Investors of record on Thursday, August 8th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 4.06%. The ex-dividend date is Wednesday, August 7th. Heritage Commerce’s dividend payout ratio is currently 45.28%.
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. 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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