Heritage Commerce (NASDAQ:HTBK) Issues Earnings Results

Heritage Commerce (NASDAQ:HTBK) posted its quarterly earnings data on Friday. The financial services provider reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.04), Zacks reports. Heritage Commerce had a net margin of 19.82% and a return on equity of 7.24%. The company had revenue of $61.35 million during the quarter, compared to analyst estimates of $43.35 million.

Heritage Commerce Stock Performance

HTBK stock opened at $12.60 on Monday. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.06. Heritage Commerce has a twelve month low of $7.66 and a twelve month high of $12.60. The business’s fifty day moving average is $8.60 and its 200-day moving average is $8.50. The company has a market cap of $771.88 million, a P/E ratio of 11.59 and a beta of 0.94.

Heritage Commerce Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 22nd. Shareholders of record on Thursday, August 8th will be given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 4.13%. The ex-dividend date is Thursday, August 8th. Heritage Commerce’s payout ratio is 56.52%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on HTBK shares. Piper Sandler raised their price target on shares of Heritage Commerce from $10.00 to $12.00 and gave the company an “overweight” rating in a report on Friday. Keefe, Bruyette & Woods lifted their target price on Heritage Commerce from $10.50 to $11.50 and gave the company an “outperform” rating in a research note on Friday. Finally, StockNews.com lowered Heritage Commerce from a “hold” rating to a “sell” rating in a research note on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Heritage Commerce has an average rating of “Hold” and an average price target of $11.13.

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.