Analysts Issue Forecasts for HTBK Q4 Earnings

Heritage Commerce Corp (NASDAQ:HTBK) – DA Davidson issued their Q4 2024 earnings per share (EPS) estimates for Heritage Commerce in a report released on Monday, October 28th. DA Davidson analyst G. Tenner anticipates that the financial services provider will post earnings of $0.18 per share for the quarter. The consensus estimate for Heritage Commerce’s current full-year earnings is $0.65 per share.

Heritage Commerce (NASDAQ:HTBK) last posted its earnings results on Thursday, October 24th. The financial services provider reported $0.17 EPS for the quarter, meeting analysts’ consensus estimates of $0.17. Heritage Commerce had a net margin of 19.82% and a return on equity of 7.21%. The business had revenue of $63.68 million for the quarter, compared to the consensus estimate of $43.14 million.

Several other brokerages have also recently issued reports on HTBK. Keefe, Bruyette & Woods increased their target price on Heritage Commerce from $10.50 to $11.50 and gave the company an “outperform” rating in a research report on Friday, July 26th. StockNews.com downgraded Heritage Commerce from a “hold” rating to a “sell” rating in a research report on Wednesday, July 10th. Finally, Piper Sandler boosted their target price on shares of Heritage Commerce from $10.00 to $12.00 and gave the stock an “overweight” rating in a report on Friday, July 26th.

Heritage Commerce Stock Performance

Shares of HTBK stock opened at $9.88 on Tuesday. The firm has a market cap of $605.21 million, a price-to-earnings ratio of 10.74 and a beta of 0.93. Heritage Commerce has a 52-week low of $7.66 and a 52-week high of $10.99. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.06. The company’s 50 day moving average is $9.84 and its 200 day moving average is $9.11.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in HTBK. Vanguard Group Inc. grew its position in Heritage Commerce by 3.9% during the 1st quarter. Vanguard Group Inc. now owns 3,309,141 shares of the financial services provider’s stock worth $28,392,000 after purchasing an additional 123,973 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Heritage Commerce by 830.2% during the second quarter. Assenagon Asset Management S.A. now owns 1,024,377 shares of the financial services provider’s stock valued at $8,912,000 after buying an additional 914,249 shares during the last quarter. American Century Companies Inc. increased its position in shares of Heritage Commerce by 21.2% in the 2nd quarter. American Century Companies Inc. now owns 921,389 shares of the financial services provider’s stock valued at $8,016,000 after acquiring an additional 160,977 shares during the period. AlTi Global Inc. raised its stake in Heritage Commerce by 1.1% in the 2nd quarter. AlTi Global Inc. now owns 648,286 shares of the financial services provider’s stock worth $5,640,000 after acquiring an additional 6,747 shares during the last quarter. Finally, AQR Capital Management LLC raised its stake in Heritage Commerce by 32.5% in the 2nd quarter. AQR Capital Management LLC now owns 544,471 shares of the financial services provider’s stock worth $4,737,000 after acquiring an additional 133,514 shares during the last quarter. 75.55% of the stock is currently owned by hedge funds and other institutional investors.

Heritage Commerce Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th will be given a $0.13 dividend. The ex-dividend date is Thursday, November 7th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 5.26%. Heritage Commerce’s payout ratio is 56.52%.

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. 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.