Equities Analysts Offer Predictions for HTBK Q4 Earnings

Heritage Commerce Corp (NASDAQ:HTBK) – Analysts at DA Davidson issued their Q4 2024 earnings per share estimates for shares of Heritage Commerce in a report issued on Monday, October 28th. DA Davidson analyst G. Tenner expects 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 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.17. The firm had revenue of $63.68 million during the quarter, compared to analyst estimates of $43.14 million. Heritage Commerce had a net margin of 19.82% and a return on equity of 7.21%.

Several other research analysts have also commented on HTBK. StockNews.com lowered Heritage Commerce from a “hold” rating to a “sell” rating in a research report on Wednesday, July 10th. Keefe, Bruyette & Woods boosted 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. Finally, Piper Sandler raised their price target on Heritage Commerce from $10.00 to $12.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th.

Heritage Commerce Stock Performance

Shares of NASDAQ:HTBK opened at $9.88 on Tuesday. The firm has a fifty day simple moving average of $9.84 and a two-hundred day simple moving average of $9.11. 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 stock has a market capitalization of $605.21 million, a P/E 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.

Heritage Commerce Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th will be given a dividend of $0.13 per share. The ex-dividend date is Thursday, November 7th. This represents a $0.52 annualized dividend and a dividend yield of 5.26%. Heritage Commerce’s dividend payout ratio (DPR) is presently 56.52%.

Institutional Investors Weigh In On Heritage Commerce

Hedge funds and other institutional investors have recently modified their holdings of the business. Rosenthal Henry Capital Advisors Inc. grew its position in Heritage Commerce by 2.1% in the 3rd quarter. Rosenthal Henry Capital Advisors Inc. now owns 203,837 shares of the financial services provider’s stock valued at $2,014,000 after acquiring an additional 4,250 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in Heritage Commerce by 27.7% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 16,262 shares of the financial services provider’s stock worth $161,000 after buying an additional 3,529 shares during the period. NorthCrest Asset Manangement LLC bought a new stake in Heritage Commerce during the 3rd quarter valued at about $100,000. nVerses Capital LLC purchased a new stake in Heritage Commerce in the 3rd quarter valued at about $73,000. Finally, One Wealth Advisors LLC bought a new position in Heritage Commerce in the 3rd quarter worth about $99,000. 75.55% of the stock is currently owned by hedge funds and other institutional investors.

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.