Equities research analysts expect that Heritage Commerce Corp. (NASDAQ:HTBK) will report sales of $29.45 million for the current quarter, Zacks reports. Two analysts have provided estimates for Heritage Commerce’s earnings, with estimates ranging from $29.40 million to $29.50 million. Heritage Commerce reported sales of $26.12 million in the same quarter last year, which indicates a positive year over year growth rate of 12.7%. The business is expected to announce its next earnings results on Thursday, April 26th.
On average, analysts expect that Heritage Commerce will report full year sales of $135.60 million for the current year, with estimates ranging from $134.20 million to $137.00 million. For the next financial year, analysts forecast that the firm will report sales of $158.55 million per share, with estimates ranging from $155.60 million to $161.50 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Heritage Commerce.
Heritage Commerce (NASDAQ:HTBK) last announced its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.22 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.01). The firm had revenue of $29.01 million for the quarter, compared to the consensus estimate of $29.65 million. Heritage Commerce had a net margin of 20.56% and a return on equity of 11.46%.
In related news, Director Jack W. Conner sold 24,500 shares of the firm’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $15.47, for a total transaction of $379,015.00. Following the completion of the transaction, the director now directly owns 83,324 shares of the company’s stock, valued at $1,289,022.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 5.40% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Meeder Asset Management Inc. grew its stake in Heritage Commerce by 471.6% during the fourth quarter. Meeder Asset Management Inc. now owns 8,100 shares of the financial services provider’s stock valued at $123,000 after acquiring an additional 6,683 shares in the last quarter. UBS Asset Management Americas Inc. purchased a new position in Heritage Commerce during the fourth quarter valued at $172,000. Teacher Retirement System of Texas purchased a new position in Heritage Commerce during the fourth quarter valued at $190,000. Acadian Asset Management LLC purchased a new position in Heritage Commerce during the fourth quarter valued at $195,000. Finally, Bank of Montreal Can grew its stake in Heritage Commerce by 40.8% during the fourth quarter. Bank of Montreal Can now owns 13,042 shares of the financial services provider’s stock valued at $200,000 after acquiring an additional 3,782 shares in the last quarter. 71.36% of the stock is owned by institutional investors.
Shares of HTBK stock opened at $16.21 on Monday. The firm has a market cap of $661.36, a PE ratio of 20.26, a PEG ratio of 1.61 and a beta of 0.58. Heritage Commerce has a one year low of $12.76 and a one year high of $17.28. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.76 and a current ratio of 0.76.
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About Heritage Commerce
Heritage Commerce Corp is a bank holding company. The Company, through its subsidiary Heritage Bank of Commerce (the Bank), provides a range of banking services. The Bank is a California state-chartered multi-community independent bank that offers a range of commercial banking services to small and medium-sized businesses and their owners, managers and employees.
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