Posted by admin on Jul 2nd, 2022 
Heritage Commerce Corp (NASDAQ:HTBK – Get Rating) – Equities researchers at DA Davidson boosted their FY2022 earnings per share estimates for Heritage Commerce in a report released on Thursday, June 30th. DA Davidson analyst G. Tenner now anticipates that the financial services provider will earn $1.15 per share for the year, up from their prior forecast of $1.00. The consensus estimate for Heritage Commerce’s current full-year earnings is $0.98 per share. DA Davidson also issued estimates for Heritage Commerce’s FY2023 earnings at $1.44 EPS.
Separately, StockNews.com assumed coverage on Heritage Commerce in a report on Thursday, March 31st. They set a “hold” rating for the company.
Shares of Heritage Commerce stock opened at $10.88 on Friday. The stock has a market capitalization of $657.59 million, a P/E ratio of 13.27 and a beta of 1.02. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.07. The stock has a 50 day moving average price of $11.11 and a two-hundred day moving average price of $11.59. Heritage Commerce has a 12-month low of $10.43 and a 12-month high of $12.94.
Heritage Commerce (NASDAQ:HTBK – Get Rating) last announced its earnings results on Thursday, April 28th. The financial services provider reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.01. The firm had revenue of $40.68 million during the quarter, compared to analysts’ expectations of $40.14 million. Heritage Commerce had a return on equity of 8.33% and a net margin of 29.69%.
The firm also recently declared a quarterly dividend, which was paid on Thursday, May 26th. Stockholders of record on Thursday, May 12th were issued a dividend of $0.13 per share. The ex-dividend date of this dividend was Wednesday, May 11th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 4.78%. Heritage Commerce’s dividend payout ratio (DPR) is presently 63.41%.
In related news, CFO Lawrence D. Mcgovern sold 2,500 shares of the company’s stock in a transaction on Friday, June 3rd. The stock was sold at an average price of $11.37, for a total value of $28,425.00. Following the completion of the transaction, the chief financial officer now directly owns 94,079 shares in the company, valued at $1,069,678.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Lawrence D. Mcgovern sold 4,550 shares of the company’s stock in a transaction on Monday, June 6th. The shares were sold at an average price of $11.42, for a total value of $51,961.00. Following the completion of the transaction, the chief financial officer now owns 89,529 shares of the company’s stock, valued at $1,022,421.18. The disclosure for this sale can be found here. 4.05% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC acquired a new position in shares of Heritage Commerce in the first quarter valued at $28,000. Quadrant Capital Group LLC raised its stake in shares of Heritage Commerce by 29.5% in the fourth quarter. Quadrant Capital Group LLC now owns 4,589 shares of the financial services provider’s stock valued at $55,000 after purchasing an additional 1,045 shares in the last quarter. Great West Life Assurance Co. Can raised its stake in shares of Heritage Commerce by 35.7% in the first quarter. Great West Life Assurance Co. Can now owns 6,253 shares of the financial services provider’s stock valued at $73,000 after purchasing an additional 1,646 shares in the last quarter. Amalgamated Bank acquired a new position in Heritage Commerce during the first quarter worth $79,000. Finally, Raymond James & Associates acquired a new position in Heritage Commerce during the fourth quarter worth $128,000. Institutional investors and hedge funds own 71.49% of the company’s stock.
Heritage Commerce Company Profile (Get Rating)
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.
Featured Articles
Receive News & Ratings for Heritage Commerce Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Heritage Commerce and related companies with MarketBeat.com’s FREE daily email newsletter.
Alamos Gold (NYSE:AGI) Trading 7.8% Higher Following Analyst Upgrade
FY2022 Earnings Estimate for Bluejay Diagnostics, Inc. Issued By Dawson James (NASDAQ:BJDX)
