Heritage Commerce
HTBK

$9.68

2.02%

Market Cap: $593M

About: Heritage Commerce Corp operates as a bank holding company. The company, through its subsidiary, offers commercial banking services to small and medium-sized businesses and their owners, managers, and employees. It operates through two segments, namely Banking and Factoring. The bank generates its revenue from the Banking segment.

Employees: 353

Financials State Commercial Banks

0

Funds holding %

of 6,686 funds

–

Analysts bullish %

Fund manager confidence

Based on 2024 Q2 SEC filings by fund managers ($100M+ AUM)

81% more repeat investments, than reductions

Existing positions increased: 78 | Existing positions reduced: 43

40% more call options, than puts

Call options by funds: $7K | Put options by funds: $5K

2.39% more ownership

Funds ownership: 75.76% [Q1] → 78.15% (+2.39%) [Q2]

5% more capital invested

Capital invested by funds: $397M [Q1] → $417M (+$19.2M) [Q2]

0% more funds holding in top 10

Funds holding in top 10: 2 [Q1] → 2 (+0) [Q2]

9% less funds holding

Funds holding: 169 [Q1] → 154 (-15) [Q2]

48% less first-time investments, than exits

New positions opened: 16 | Existing positions closed: 31

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Research analyst outlook

2 Wall Street Analysts provided 1 year price targets over the past 3 months

Low target

$11.50

19%

upside

Avg. target

$11.75

21%

upside

High target

$12

24%

upside

2 analyst ratings

2 positive

100%

0 neutral

0%

0 negative

0%

Piper Sandler Andrew Liesch 78% 1-year accuracy 21 / 27 met price target	24%upside $12	Overweight Maintained	26 Jul 2024
Keefe, Bruyette & Woods Wood Lay 62% 1-year accuracy 13 / 21 met price target	19%upside $11.50	Outperform Maintained	26 Jul 2024

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Financial journalist opinion

Ranson W. Webster to Retire from Heritage Commerce Corp Board of Directors and Julianne M. Biagini-Komas to be named Vice Chair of Board

SAN JOSE, Calif., Aug. 15, 2024 (GLOBE NEWSWIRE) -- Heritage Commerce Corp (NASDAQ: HTBK) (the "Company"), the parent company of Heritage Bank of Commerce (the "Bank"), today announced the retirement of Ranson W. Webster from the Board of Directors, effective October 1, 2024. As one of the original founders, Webster joined the Board in 2004 and has served as Vice Chair of the Boards of Directors of the Company and the Bank. Director Julianne M. Biagini-Komas will assume the role of Vice Chair of both boards effective on the same date.

Ranson W. Webster to Retire from Heritage Commerce Corp Board of Directors and Julianne M. Biagini-Komas to be named Vice Chair of Board

Zacks Investment Research

Here's What Key Metrics Tell Us About Heritage Commerce (HTBK) Q2 Earnings

The headline numbers for Heritage Commerce (HTBK) give insight into how the company performed in the quarter ended June 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.

Here's What Key Metrics Tell Us About Heritage Commerce (HTBK) Q2 Earnings

Zacks Investment Research

Heritage Commerce (HTBK) Misses Q2 Earnings and Revenue Estimates

Heritage Commerce (HTBK) came out with quarterly earnings of $0.15 per share, missing the Zacks Consensus Estimate of $0.19 per share. This compares to earnings of $0.27 per share a year ago.

Heritage Commerce (HTBK) Misses Q2 Earnings and Revenue Estimates

Heritage Commerce Corp Announces $15 Million Share Repurchase

SAN JOSE, Calif., July 25, 2024 (GLOBE NEWSWIRE) -- Heritage Commerce Corp (NASDAQ: HTBK) (the "Company") the holding company of Heritage Bank of Commerce (the "Bank") today announced that its Board of Directors (the “Board”) adopted a share repurchase program (the “Repurchase Program”) under which the Company is authorized to repurchase up to $15 million of the Company's shares of its issued and outstanding common stock.

Heritage Commerce Corp Announces $15 Million Share Repurchase

Heritage Commerce Corp Declares Regular Quarterly Cash Dividend of $0.13 Per Share

SAN JOSE, Calif., July 25, 2024 (GLOBE NEWSWIRE) -- Heritage Commerce Corp (Nasdaq: HTBK), the holding company for Heritage Bank of Commerce (the “Bank”), today announced that its Board of Directors had declared its regular quarterly cash dividend of $0.13 per share to holders of its common stock. The dividend will be payable on August 22, 2024, to shareholders of record at the close of the business day on August 8, 2024. Heritage Commerce Corp has paid a cash dividend each quarter since 2013.

Heritage Commerce Corp Declares Regular Quarterly Cash Dividend of $0.13 Per Share

Heritage Commerce Corp Reports Increased Average Loans and Average Deposits and Enhanced Credit Quality

SAN JOSE, Calif., July 25, 2024 (GLOBE NEWSWIRE) -- Heritage Commerce Corp (Nasdaq: HTBK), (the “Company”), the holding company for Heritage Bank of Commerce (the “Bank”), today announced that its second quarter 2024 net income was $9.2 million, or $0.15 per average diluted common share, compared to $10.2 million, or $0.17 per average diluted common share, for the first quarter of 2024, and $16.4 million, or $0.27 per average diluted common share, for the second quarter of 2023. For the six months ended June 30, 2024, net income was $19.4 million, or $0.32 per average diluted common share, compared to $35.3 million, or $0.58 per average diluted common share, for the six months ended June 30, 2023. All data are unaudited.

Heritage Commerce Corp Reports Increased Average Loans and Average Deposits and Enhanced Credit Quality

KBRA Affirms Ratings for Heritage Commerce Corp

SAN JOSE, Calif., May 21, 2024 (GLOBE NEWSWIRE) -- Heritage Commerce Corp (NASDAQ: HTBK) (the "Company"), parent company of Heritage Bank of Commerce (the "Bank"), announced today that Kroll Bond Rating Agency, LLC ("KBRA") affirmed the Company's senior unsecured debt rating of BBB+, the subordinated debt rating of BBB, and the short-term debt rating of K2. KBRA also affirmed deposit and senior unsecured debt ratings of A-, the subordinated debt rating of BBB+, and the short-term deposit and debt ratings of K2 for the Bank. They graded the outlook of the long-term ratings for both the Company and the Bank as stable on May 10, 2024.

KBRA Affirms Ratings for Heritage Commerce Corp

Heritage Commerce Corp Awarded the Twelfth Annual Raymond James Community Bankers Cup

SAN JOSE, Calif., May 20, 2024 (GLOBE NEWSWIRE) -- Heritage Commerce Corp (NASDAQ: HTBK) (the "Company"), parent company of Heritage Bank of Commerce (the "Bank"), has been awarded the 2023 Raymond James Community Bankers Cup as one of the top 10% of community banks in the United States. Winners are recognized for demonstrating superior performance in various measurements of financial performance and stability. This marks the fifth time that the Company has earned this recognition.

Heritage Commerce Corp Awarded the Twelfth Annual Raymond James Community Bankers Cup

KBRA Affirms Ratings for Heritage Commerce Corp

NEW YORK--(BUSINESS WIRE)-- #KBRA--KBRA affirms the senior unsecured debt rating of BBB+, the subordinated debt rating of BBB, and the short-term debt rating of K2 for San Jose, California-based Heritage Commerce Corp (NASDAQ: HTBK) ("Heritage" or "the company"). In addition, KBRA affirms the deposit and senior unsecured debt ratings of A-, the subordinated debt rating of BBB+, and the short-term deposit and debt ratings of K2 for its subsidiary, Heritage Bank of Commerce. The Outlook for all long-term.

KBRA Affirms Ratings for Heritage Commerce Corp

Heritage Bank of Commerce Named One of Forbes 2024 World's Best Banks

SAN JOSE, Calif., May 07, 2024 (GLOBE NEWSWIRE) -- Heritage Commerce Corp (NASDAQ: HTBK) (the "Company") announced that Heritage Bank of Commerce (the "Bank") has been named one of Forbes 2024 World's Best Banks. Survey participants based their rankings on criteria including trust, customer service and financial advice and the resulting list recognized 403 banks worldwide. Heritage Bank of Commerce was ranked 10th out of the 68 banks recognized in the United States.

Heritage Bank of Commerce Named One of Forbes 2024 World's Best Banks

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