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

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

Heritage Commerce Trading Up 0.8 %

Shares of NASDAQ:HTBK opened at $9.19 on Friday. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.06. Heritage Commerce has a 52-week low of $7.66 and a 52-week high of $11.27. The stock has a market cap of $563.35 million, a price-to-earnings ratio of 12.94 and a beta of 0.96. The business has a 50-day moving average price of $9.86 and a 200-day moving average price of $9.87.

Heritage Commerce Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 20th. Stockholders of record on Thursday, February 6th will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 5.66%. Heritage Commerce’s dividend payout ratio is presently 73.24%.

Analyst Upgrades and Downgrades

Separately, 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.