Equities research analysts expect Heritage Commerce Corp. (NASDAQ:HTBK) to announce earnings of $0.29 per share for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Heritage Commerce’s earnings. The lowest EPS estimate is $0.28 and the highest is $0.30. Heritage Commerce posted earnings per share of $0.28 in the same quarter last year, which indicates a positive year-over-year growth rate of 3.6%. The business is expected to announce its next quarterly earnings report on Thursday, October 24th.

On average, analysts expect that Heritage Commerce will report full-year earnings of $1.09 per share for the current year, with EPS estimates ranging from $1.03 to $1.12. For the next financial year, analysts forecast that the business will report earnings of $1.27 per share, with EPS estimates ranging from $1.22 to $1.35. Zacks’ earnings per share averages are an average based on a survey of research firms that follow Heritage Commerce.

HTBK has been the subject of a number of research analyst reports. ValuEngine cut Zumiez from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Brean Capital cut Heritage Commerce from a “buy” rating to a “hold” rating in a report on Friday, April 26th. Finally, Zacks Investment Research lowered Eisai from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 24th.

In other news, Director Jack W. Conner acquired 7,879 shares of Heritage Commerce stock in a transaction that occurred on Wednesday, May 22nd. The shares were acquired at an average price of $12.24 per share, for a total transaction of $96,438.96. Following the transaction, the director now directly owns 85,432 shares of the company’s stock, valued at approximately $1,045,687.68. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jason Philip Dinapoli acquired 5,000 shares of Heritage Commerce stock in a transaction that occurred on Friday, June 7th. The shares were purchased at an average price of $12.01 per share, for a total transaction of $60,050.00. Following the transaction, the director now directly owns 22,261 shares in the company, valued at $267,354.61. The disclosure for this purchase can be found here. Insiders have purchased a total of 22,899 shares of company stock worth $276,618 in the last 90 days. 4.22% of the stock is currently owned by corporate insiders.

Hedge funds have recently modified their holdings of the stock. Marshall Wace North America L.P. bought a new stake in Heritage Commerce during the 1st quarter worth $56,000. Legal & General Group Plc grew its position in shares of Heritage Commerce by 12.8% in the 4th quarter. Legal & General Group Plc now owns 7,135 shares of the financial services provider’s stock valued at $81,000 after buying an additional 811 shares during the last quarter. BNP Paribas Arbitrage SA grew its position in shares of Heritage Commerce by 63,869.2% in the 1st quarter. BNP Paribas Arbitrage SA now owns 8,316 shares of the financial services provider’s stock valued at $101,000 after buying an additional 8,303 shares during the last quarter. Campbell & CO Investment Adviser LLC bought a new stake in shares of Heritage Commerce in the 2nd quarter valued at about $128,000. Finally, Quantitative Systematic Strategies LLC bought a new stake in shares of Heritage Commerce in the 2nd quarter valued at about $141,000. Institutional investors and hedge funds own 74.28% of the company’s stock.

Shares of Heritage Commerce stock traded up $0.06 during trading on Thursday, reaching $12.39. 10,655 shares of the company’s stock were exchanged, compared to its average volume of 142,494. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.10. Heritage Commerce has a 1-year low of $10.84 and a 1-year high of $16.50. The stock has a market cap of $539.38 million, a P/E ratio of 11.69, a P/E/G ratio of 1.53 and a beta of 0.83. The company has a 50-day simple moving average of $12.17.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 22nd. Investors of record on Thursday, August 8th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, August 7th. This represents a $0.48 dividend on an annualized basis and a yield of 3.87%. Heritage Commerce’s dividend payout ratio is currently 45.28%.

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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