Wall Street analysts expect that Heritage Commerce Corp. (NASDAQ:HTBK) will report $34.57 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Heritage Commerce’s earnings, with estimates ranging from $33.50 million to $36.00 million. Heritage Commerce reported sales of $28.78 million during the same quarter last year, which indicates a positive year over year growth rate of 20.1%. The company is scheduled to report its next earnings results on Thursday, October 25th.

On average, analysts expect that Heritage Commerce will report full-year sales of $130.67 million for the current year, with estimates ranging from $128.60 million to $133.90 million. For the next financial year, analysts expect that the business will report sales of $147.93 million, with estimates ranging from $143.80 million to $152.40 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Heritage Commerce.

Heritage Commerce (NASDAQ:HTBK) last announced its quarterly earnings data on Thursday, July 26th. The financial services provider reported $0.02 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.26 by ($0.24). The firm had revenue of $32.94 million during the quarter, compared to the consensus estimate of $32.60 million. Heritage Commerce had a return on equity of 11.98% and a net margin of 15.63%.

Several analysts have issued reports on HTBK shares. BidaskClub downgraded shares of Heritage Commerce from a “sell” rating to a “strong sell” rating in a research note on Saturday, September 15th. Zacks Investment Research downgraded shares of Heritage Commerce from a “hold” rating to a “sell” rating in a research note on Friday, July 20th. Brean Capital reaffirmed a “buy” rating on shares of Heritage Commerce in a research report on Thursday, August 2nd. ValuEngine lowered shares of Heritage Commerce from a “buy” rating to a “hold” rating in a research report on Monday, July 30th. Finally, Raymond James initiated coverage on shares of Heritage Commerce in a research report on Wednesday, July 18th. They set an “outperform” rating and a $19.00 target price on the stock. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. Heritage Commerce has a consensus rating of “Hold” and an average target price of $18.88.

NASDAQ HTBK traded down $0.41 during trading on Friday, hitting $14.63. The stock had a trading volume of 255,205 shares, compared to its average volume of 181,623. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.81 and a quick ratio of 0.81. The company has a market cap of $644.88 million, a P/E ratio of 18.29, a PEG ratio of 1.55 and a beta of 0.46. Heritage Commerce has a one year low of $14.25 and a one year high of $18.10.

In related news, Director Jason Philip Dinapoli bought 5,000 shares of Heritage Commerce stock in a transaction dated Monday, August 6th. The shares were acquired at an average cost of $14.82 per share, with a total value of $74,100.00. Following the completion of the transaction, the director now owns 20,000 shares in the company, valued at approximately $296,400. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 5.40% of the company’s stock.

Several large investors have recently modified their holdings of the company. BlackRock Inc. increased its holdings in Heritage Commerce by 12.4% during the second quarter. BlackRock Inc. now owns 3,375,198 shares of the financial services provider’s stock valued at $57,344,000 after buying an additional 372,215 shares during the period. Renaissance Technologies LLC increased its holdings in Heritage Commerce by 36.0% during the second quarter. Renaissance Technologies LLC now owns 788,900 shares of the financial services provider’s stock valued at $13,403,000 after buying an additional 208,700 shares during the period. Boston Advisors LLC purchased a new position in Heritage Commerce during the second quarter valued at approximately $3,473,000. Dimensional Fund Advisors LP increased its holdings in Heritage Commerce by 9.1% during the second quarter. Dimensional Fund Advisors LP now owns 2,043,153 shares of the financial services provider’s stock valued at $34,713,000 after buying an additional 170,632 shares during the period. Finally, Bank of America Corp DE increased its holdings in Heritage Commerce by 446.8% during the second quarter. Bank of America Corp DE now owns 161,283 shares of the financial services provider’s stock valued at $2,740,000 after buying an additional 131,787 shares during the period. 72.75% of the stock is currently owned by institutional investors and hedge funds.

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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Earnings History and Estimates for Heritage Commerce (NASDAQ:HTBK)

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