Heritage Commerce (NASDAQ:HTBK) Releases Earnings Results, Meets Estimates

Heritage Commerce (NASDAQ:HTBK) issued its quarterly earnings data on Thursday. The financial services provider reported $0.17 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.17, Zacks reports. Heritage Commerce had a net margin of 17.61% and a return on equity of 6.37%.

Heritage Commerce Stock Performance

Shares of NASDAQ HTBK opened at $9.54 on Friday. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.06. Heritage Commerce has a 12 month low of $7.66 and a 12 month high of $11.27. The company has a 50 day simple moving average of $9.84 and a two-hundred day simple moving average of $9.87. The stock has a market cap of $584.80 million, a price-to-earnings ratio of 13.44 and a beta of 0.96.

Heritage Commerce Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Thursday, February 6th will be paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 5.45%. The ex-dividend date of this dividend is Thursday, February 6th. Heritage Commerce’s dividend payout ratio (DPR) is presently 73.24%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Keefe, Bruyette & Woods lowered their target price on shares of Heritage Commerce from $12.50 to $11.50 and set an “outperform” rating for the company in a research note on Friday. StockNews.com upgraded shares of Heritage Commerce from a “sell” rating to a “hold” rating in a research note on Wednesday, December 4th.

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.