What is DA Davidson’s Estimate for HTBK Q4 Earnings?

Heritage Commerce Corp (NASDAQ:HTBK) – DA Davidson issued their Q4 2024 EPS estimates for shares of Heritage Commerce in a report released on Monday, October 28th. DA Davidson analyst G. Tenner anticipates that the financial services provider will post earnings per share of $0.18 for the quarter. The consensus estimate for Heritage Commerce’s current full-year earnings is $0.65 per share.

Several other research analysts also recently issued reports on the stock. StockNews.com downgraded shares of Heritage Commerce from a “hold” rating to a “sell” rating in a research report on Wednesday, July 10th. Piper Sandler increased their price target on shares of Heritage Commerce from $10.00 to $12.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Heritage Commerce from $10.50 to $11.50 and gave the company an “outperform” rating in a report on Friday, July 26th.

Heritage Commerce Price Performance

Heritage Commerce stock opened at $9.98 on Tuesday. The business’s fifty day moving average is $9.83 and its two-hundred day moving average is $9.10. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.76 and a current ratio of 0.76. The firm has a market cap of $611.33 million, a P/E ratio of 10.85 and a beta of 0.93. Heritage Commerce has a 52 week low of $7.66 and a 52 week high of $10.99.

Heritage Commerce (NASDAQ:HTBK) last posted its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.17 earnings per share for the quarter, hitting the consensus estimate of $0.17. The company had revenue of $63.68 million during the quarter, compared to analyst estimates of $43.14 million. Heritage Commerce had a net margin of 19.82% and a return on equity of 7.21%.

Institutional Investors Weigh In On Heritage Commerce

Institutional investors have recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC boosted its stake in Heritage Commerce by 27.7% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 16,262 shares of the financial services provider’s stock valued at $161,000 after acquiring an additional 3,529 shares during the last quarter. NorthCrest Asset Manangement LLC acquired a new position in shares of Heritage Commerce in the 3rd quarter valued at $100,000. nVerses Capital LLC bought a new position in shares of Heritage Commerce in the 3rd quarter worth $73,000. One Wealth Advisors LLC bought a new position in shares of Heritage Commerce in the 3rd quarter worth $99,000. Finally, Creative Planning grew its stake in shares of Heritage Commerce by 26.2% during the third quarter. Creative Planning now owns 95,262 shares of the financial services provider’s stock worth $941,000 after purchasing an additional 19,800 shares during the period. Institutional investors and hedge funds own 75.55% of the company’s stock.

Heritage Commerce Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th will be paid a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 5.21%. The ex-dividend date of this dividend is Thursday, November 7th. Heritage Commerce’s dividend payout ratio (DPR) is presently 56.52%.

About Heritage Commerce

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.