There’s a new sense of excitement surrounding Heritage Commerce Corp (HTBK)

Heritage Commerce Corp (NASDAQ: HTBK) closed the day trading at $8.85 up 3.27% from the previous closing price of $8.57. In other words, the price has increased by $+0.28 from its previous closing price. On the day, 720190 shares were traded. HTBK stock price reached its highest trading level at $9.04 during the session, while it also had its lowest trading level at $8.18.

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For a better understanding of HTBK, let’s look at its different ratios. It provided that stocks Price–to–Cash (P/C) ratio for the trailing twelve months (TTM) is standing at 0.82 whereas its Price-to-Free Cash Flow (P/FCF) for the term is 19.45. In the meantime, Its Debt-to-Equity ratio is 0.06 whereas as Long-Term Debt/Eq ratio is at 0.06.

Upgrades & Downgrades

In addition, analysts’ ratings and any changes thereto give investors an idea of the stock’s future direction. In the most recent recommendation for the company, Raymond James on October 31, 2022, Downgraded its rating to Outperform and sets its target price to $15 from $13 previously.

On December 28, 2021, Stephens started tracking the stock assigning a Overweight rating and target price of $13.50.

DA Davidson Upgraded its Neutral to Buy on December 15, 2021, while the target price for the stock was maintained at $13.50.

Insider Transactions:

The insider trade also gives investors a glimpse into the future direction of stock prices, which can be beneficial to investors. A recent insider transaction in this stock occurred on Mar 06 when DiNapoli Jason Philip bought 3,660 shares for $11.92 per share. The transaction valued at 43,609 led to the insider holds 340,187 shares of the business.

Moles Robert sold 9,000 shares of HTBK for $107,218 on Mar 03. The Director now owns 43,560 shares after completing the transaction at $11.91 per share. On Feb 22, another insider, Husain Kamran F, who serves as the Director of the company, bought 2,000 shares for $12.25 each. As a result, the insider paid 24,507 and bolstered with 6,436 shares of the company.

Valuation Measures:

As of this moment, Heritage’s Price-to-Earnings (P/E) ratio for their current fiscal year is 8.13, and their Forward P/E ratio for the next fiscal year is 6.76. The expected Price-to-Earnings-to-Growth (PEG) calculation for the next 5 years is 1.16. For the stock, the TTM Price-to-Sale (P/S) ratio is 3.11 while its Price-to-Book (P/B) ratio in mrq is 0.88.

Stock Price History:

Over the past 52 weeks, HTBK has reached a high of $14.87, while it has fallen to a 52-week low of $8.18. The 50-Day Moving Average of the stock is 12.10, while the 200-Day Moving Average is calculated to be 12.21.

Shares Statistics:

Over the past 3-months, HTBK traded about 291.61K shares per day on average, while over the past 10 days, HTBK traded about 623.15k shares per day. A total of 60.69M shares are outstanding, with a floating share count of 58.37M. Insiders hold about 0.50% of the company’s shares, while institutions hold 73.10% stake in the company. Shares short for HTBK as of Jan 12, 2023 were 684.64k with a Short Ratio of 0.59M, compared to 654.82k on Dec 14, 2022. Therefore, it implies a Short% of Shares Outstanding of 1.13% and a Short% of Float of 1.17%.

Dividends & Splits

HTBK’s forward annual dividend rate is 0.52, up from 0.52 a year ago. Against a Trailing Annual Dividend Yield of 6.07%, it implies a Forward Annual Dividend Yield of 4.24%. The stock’s 5-year Average Dividend Yield is 4.39. The current Payout Ratio is 56.70% for HTBK, which recently paid a dividend on Feb 22, 2023 with an ex-dividend date of Feb 07, 2023. Stock splits for the company last occurred on Feb 02, 2000 when the company split stock in a 11:10 ratio.

Earnings Estimates

Current recommendations for the stock of the company come from 6 analysts. On average, analysts expect EPS of $0.31 for the current quarter, with a high estimate of $0.33 and a low estimate of $0.3, while EPS last year was $0.21. The consensus estimate for the next quarter is $0.32, with high estimates of $0.34 and low estimates of $0.31.

Analysts are recommending an EPS of between $1.37 and $1.25 for the fiscal current year, implying an average EPS of $1.29. EPS for the following year is $1.31, with 6 analysts recommending between $1.46 and $1.25.

Revenue Estimates

5 analysts predict $49.84M in revenue for the current quarter. It ranges from a high estimate of $50.1M to a low estimate of $49.64M. As of the current estimate, Heritage Commerce Corp’s year-ago sales were $38.22M, an estimated increase of 30.40% from the year-ago figure. For the next quarter, 5 analysts are estimating revenue of $50.83M, an increase of 21.40% less than the figure of $30.40% in the same quarter last year. There is a high estimate of $51.2M for the next quarter, whereas the lowest estimate is $50.26M.

A total of 5 analysts have provided revenue estimates for HTBK’s current fiscal year. The highest revenue estimate was $206.4M, while the lowest revenue estimate was $202.29M, resulting in an average revenue estimate of $204.57M. In the same quarter a year ago, actual revenue was $179.88M, up 13.70% from the average estimate. Based on 5 analysts’ estimates, the company’s revenue will be $210.04M in the next fiscal year. The high estimate is $216.05M and the low estimate is $204.55M. The average revenue growth estimate for next year is up 2.70% from the average revenue estimate for this year.