Heritage Commerce Corp Expected to Post Q2 2024 Earnings of $0.19 Per Share (NASDAQ:HTBK)

Heritage Commerce Corp (NASDAQ:HTBK) – Stock analysts at DA Davidson issued their Q2 2024 earnings per share (EPS) estimates for shares of Heritage Commerce in a research note issued to investors on Monday, April 29th. DA Davidson analyst G. Tenner forecasts that the financial services provider will post earnings per share of $0.19 for the quarter. The consensus estimate for Heritage Commerce’s current full-year earnings is $0.79 per share. DA Davidson also issued estimates for Heritage Commerce’s FY2024 earnings at $0.75 EPS and FY2025 earnings at $0.82 EPS.

A number of other equities research analysts also recently weighed in on HTBK. Raymond James upped their price target on shares of Heritage Commerce from $9.50 to $11.00 and gave the company an “outperform” rating in a report on Friday, January 5th. Piper Sandler cut their target price on shares of Heritage Commerce from $11.00 to $10.00 and set an “overweight” rating for the company in a research note on Friday. Keefe, Bruyette & Woods decreased their price target on shares of Heritage Commerce from $12.00 to $11.00 and set an “outperform” rating on the stock in a research report on Friday, January 26th. Finally, StockNews.com cut Heritage Commerce from a “hold” rating to a “sell” rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $10.50.

Heritage Commerce Trading Up 0.2 %

Shares of HTBK stock opened at $8.02 on Tuesday. The stock has a 50-day simple moving average of $8.24 and a 200 day simple moving average of $8.70. The stock has a market capitalization of $491.23 million, a P/E ratio of 8.72 and a beta of 0.90. Heritage Commerce has a fifty-two week low of $6.69 and a fifty-two week high of $10.22. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.06.

Hedge Funds Weigh In On Heritage Commerce

Institutional investors have recently modified their holdings of the company. SG Americas Securities LLC grew its position in shares of Heritage Commerce by 107.6% in the third quarter. SG Americas Securities LLC now owns 32,558 shares of the financial services provider’s stock valued at $276,000 after purchasing an additional 16,878 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in Heritage Commerce by 17.2% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 78,664 shares of the financial services provider’s stock valued at $666,000 after buying an additional 11,550 shares during the last quarter. Rosenthal Henry Capital Advisors Inc. bought a new position in Heritage Commerce in the 3rd quarter worth approximately $1,863,000. Watershed Asset Management L.L.C. acquired a new position in shares of Heritage Commerce during the third quarter worth approximately $248,000. Finally, Panagora Asset Management Inc. boosted its position in shares of Heritage Commerce by 76.0% in the third quarter. Panagora Asset Management Inc. now owns 224,353 shares of the financial services provider’s stock valued at $1,900,000 after acquiring an additional 96,854 shares during the period. Institutional investors own 75.55% of the company’s stock.

Insider Buying and Selling

In other news, Director Jack W. Conner sold 6,944 shares of the firm’s stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $8.92, for a total transaction of $61,940.48. Following the transaction, the director now owns 102,501 shares in the company, valued at approximately $914,308.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.99% of the stock is currently owned by corporate insiders.

Heritage Commerce Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 23rd. Stockholders of record on Thursday, May 9th will be issued a dividend of $0.13 per share. The ex-dividend date is Wednesday, May 8th. This represents a $0.52 annualized dividend and a dividend yield of 6.48%. Heritage Commerce’s dividend 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.