FY2025 EPS Forecast for Heritage Commerce Lowered by Analyst

Heritage Commerce Corp (NASDAQ:HTBK - Free Report) - Stock analysts at DA Davidson decreased their FY2025 earnings per share estimates for shares of Heritage Commerce in a research note issued on Monday, April 28th. DA Davidson analyst G. Tenner now forecasts that the financial services provider will earn $0.78 per share for the year, down from their prior estimate of $0.84. The consensus estimate for Heritage Commerce's current full-year earnings is $0.80 per share.

A number of other research firms also recently weighed in on HTBK. Stephens reiterated an "overweight" rating and issued a $11.00 price target on shares of Heritage Commerce in a research report on Monday, April 28th. Raymond James set a $10.00 price objective on Heritage Commerce in a report on Monday, April 28th. Finally, Keefe, Bruyette & Woods reduced their target price on Heritage Commerce from $11.50 to $11.00 and set an "outperform" rating on the stock in a report on Friday, April 25th.

Heritage Commerce Stock Performance

Heritage Commerce stock traded up $0.03 during midday trading on Wednesday, hitting $9.33. The company's stock had a trading volume of 78,129 shares, compared to its average volume of 373,371. The company has a 50-day moving average price of $9.29 and a two-hundred day moving average price of $9.74. Heritage Commerce has a 1-year low of $7.74 and a 1-year high of $11.27. The company has a market cap of $574.52 million, a price-to-earnings ratio of 14.12 and a beta of 0.81. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.73 and a quick ratio of 0.73.

Heritage Commerce (NASDAQ:HTBK - Get Free Report) last posted its earnings results on Thursday, April 24th. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.18 by $0.01. The company had revenue of $46.06 million during the quarter, compared to analysts' expectations of $45.89 million. Heritage Commerce had a net margin of 16.12% and a return on equity of 5.96%.

Institutional Investors Weigh In On Heritage Commerce

Institutional investors and hedge funds have recently bought and sold shares of the stock. Wellington Management Group LLP grew its stake in Heritage Commerce by 13.2% in the 4th quarter. Wellington Management Group LLP now owns 2,302,615 shares of the financial services provider's stock valued at $21,599,000 after purchasing an additional 268,900 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Heritage Commerce in the 4th quarter worth about $2,181,000. Millennium Management LLC bought a new position in Heritage Commerce during the fourth quarter valued at about $1,881,000. Assenagon Asset Management S.A. raised its position in Heritage Commerce by 58.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 463,774 shares of the financial services provider's stock worth $4,350,000 after acquiring an additional 170,989 shares during the period. Finally, ExodusPoint Capital Management LP purchased a new position in Heritage Commerce in the fourth quarter valued at about $1,272,000. 75.55% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Heritage Commerce

In other Heritage Commerce news, Director Jack W. Conner sold 4,000 shares of the business's stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $10.52, for a total transaction of $42,080.00. Following the completion of the sale, the director now owns 108,512 shares in the company, valued at approximately $1,141,546.24. The trade was a 3.56 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Robertson Clay Jones, Jr. sold 5,145 shares of the firm's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $9.73, for a total transaction of $50,060.85. Following the completion of the transaction, the chief executive officer now directly owns 254,227 shares in the company, valued at $2,473,628.71. This trade represents a 1.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,747 shares of company stock valued at $107,728. Corporate insiders own 2.71% of the company's stock.

Heritage Commerce Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Thursday, May 8th will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 5.58%. The ex-dividend date is Thursday, May 8th. Heritage Commerce's payout ratio is 76.47%.

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.