Heritage Commerce

Heritage Commerce Corp. is a holding company, which engages in the provision of banking. It operates through the following Banking and Factoring segments. The Banking segment includes holding company's results of operations. The Factoring segment focuses on factoring originated by bay view funding. The company was founded in 1997 and is headquartered in San Jose, CA.

Earnings data Q1 2021

Earnings data Q2 2021

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Earnings data Q4 2021

Earnings data Q1 2022

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Earnings data Q4 2022

Earnings data Q1 2023

Earnings data Q2 2023

Earnings data Q3 2023

Earnings data Q4 2023

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Earnings data Q2 2024

Earnings data Q3 2024

Earnings data Q4 2024

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Heritage Commerce Corp. is a bank holding company, which engages in the provision of banking services. It operates under the Banking and Factoring segments. The Factoring segment focuses on factoring originated by Bay View Funding. The company was founded in 1997 and is headquartered in San Jose, CA.

Heritage Commerce (HTBK) delivered earnings and revenue surprises of 3.03% and 2.78%, respectively, for the quarter ended December 2022. Do the numbers hold clues to what lies ahead for the stock?

Heritage Commerce (HTBK) Surpasses Q4 Earnings and Revenue Estimates

SAN JOSE, Calif., Jan. 26, 2023 (GLOBE NEWSWIRE) -- Heritage Commerce Corp (Nasdaq: HTBK), the holding company (the “Company”) for Heritage Bank of Commerce (the “Bank”), today announced fourth quarter 2022 net income increased 49% to $20.8 million, or $0.34 per average diluted common share, compared to $14.0 million, or $0.23 per average diluted common share, for the fourth quarter of 2021, and increased 15% from $18.1 million, or $0.30 per average diluted common share, for the third quarter of 2022. For the year ended December 31, 2022, net income increased 40% to $66.6 million, or $1.09 per average diluted common share, compared to $47.7 million, or $0.79 per average diluted common share, for the year ended December 31, 2021. All results are unaudited.

Heritage Commerce Corp Earns Record $20.8 Million for the Fourth Quarter of 2022, and Record $66.6 Million for Full Year 2022

Thanks to the large balance of non-interest-bearing deposits, the top line is quite sensitive to interest rate changes. The economy of the San Francisco Bay area will play a key role in loan growth.

Heritage Commerce: Outlook On Net Interest Income Remains Positive

Does Heritage Commerce (HTBK) have what it takes to be a top stock pick for momentum investors? Let's find out.

Heritage Commerce (HTBK) Is Up 10.73% in One Week: What You Should Know

Heritage Commerce (HTBK) delivered earnings and revenue surprises of 7.14% and 7.44%, respectively, for the quarter ended September 2022. Do the numbers hold clues to what lies ahead for the stock?

Heritage Commerce (HTBK) Q3 Earnings and Revenues Beat Estimates

SAN JOSE, Calif., Oct. 27, 2022 (GLOBE NEWSWIRE) -- Heritage Commerce Corp (Nasdaq: HTBK), the holding company (the “Company”) for Heritage Bank of Commerce (the “Bank”), today announced third quarter 2022 net income of $18.1 million, or $0.30 per average diluted common share, compared to $13.7 million, or $0.23 per average diluted common share, for the third quarter of 2021, and $14.8 million, or $0.24 per average diluted common share, for the second quarter of 2022. For the nine months ended September 30, 2022, net income was $45.8 million, or $0.75 per average diluted common share, compared to $33.7 million, or $0.56 per average diluted common share, for the nine months ended September 30, 2021. All results are unaudited.

Heritage Commerce Corp Earns $18.1 Million for the Third Quarter of 2022, and $45.8 Million for the First Nine Months of 2022

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Heritage Commerce (HTBK) witnessed a jump in share price last session on above-average trading volume. The latest trend in earnings estimate revisions for the stock doesn't suggest further strength down the road.

Heritage Commerce (HTBK) Soars 5.3%: Is Further Upside Left in the Stock?

Heritage Commerce (HTBK) delivered earnings and revenue surprises of 0% and 3.20%, respectively, for the quarter ended June 2022. Do the numbers hold clues to what lies ahead for the stock?

Heritage Commerce (HTBK) Q2 Earnings Match Estimates

SAN JOSE, Calif., July 28, 2022 (GLOBE NEWSWIRE) -- Heritage Commerce Corp (Nasdaq: HTBK), the holding company (the “Company”) for Heritage Bank of Commerce (the “Bank”), today announced second quarter 2022 net income of $14.8 million, or $0.24 per average diluted common share, compared to $8.8 million, or $0.15 per average diluted common share, for the second quarter of 2021, and $12.9 million, or $0.21 per average diluted common share, for the first quarter of 2022. For the six months ended June 30, 2022, net income was $27.7 million, or $0.45 per average diluted common share, compared to $20.0 million, or $0.33 per average diluted common share, for the six months ended June 30, 2021. All results are unaudited.

Heritage Commerce Corp Earns $14.8 Million for the Second Quarter of 2022, and $27.7 Million for the First Six Months of 2022

SAN JOSE, Calif., July 28, 2022 (GLOBE NEWSWIRE) -- Heritage Commerce Corp (Nasdaq: HTBK), the holding company (the “Company') for Heritage Bank of Commerce (the “Bank” or “HBC”), today announced that Walter T. Kaczmarek will be stepping down as President and Chief Executive Officer of the Company, effective September 15, 2022. At that time, Robertson “Clay” Jones, currently President and Chief Operating Officer of the Bank, will succeed him and become the President and Chief Executive Officer of the Company and the Bank. He will also join Boards of Directors of the Company and the Bank. Mr. Kaczmarek will remain on the Boards of both the Company and the Bank.

Robertson “Clay” Jones Named President and Chief Executive Officer of Heritage Commerce Corp

Expands footprint with 18th location in Bay Area Expands footprint with 18th location in Bay Area

Heritage Bank of Commerce Opens New Banking Office in Oakland

The average of price targets set by Wall Street analysts indicates a potential upside of 27% in Heritage Commerce (HTBK). While the effectiveness of this highly sought-after metric is questionable, the positive trend in earnings estimate revisions might translate into an upside in the stock.

How Much Upside is Left in Heritage Commerce (HTBK)? Wall Street Analysts Think 27%

Talented Industry Veteran Brings Extensive Human Resources Experience Talented Industry Veteran Brings Extensive Human Resources Experience

Heritage Bank of Commerce Hires Jan Coonley as Chief People and Diversity Officer

Heritage Commerce (HTBK) has been upgraded to a Zacks Rank #1 (Strong Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.

What Makes Heritage Commerce (HTBK) a New Strong Buy Stock

SAN JOSE, Calif., June 08, 2022 (GLOBE NEWSWIRE) -- Heritage Commerce Corp (Nasdaq: HTBK), today announced that its subsidiary, Heritage Bank of Commerce, was rated a “Super Premier Performing Bank” by The Findley Reports. This top designation is based on 2021 year-end financials and awarded to California banks that exceed the Findley performance criteria.

Heritage Bank of Commerce Achieves Top Industry Award

SAN JOSE, Calif., May 11, 2022 (GLOBE NEWSWIRE) -- Heritage Commerce Corp (NASDAQ: HTBK) the holding company (the “Company”), for Heritage Bank of Commerce, announced today the completion of its private placement offering of $40 million of the Company's 5.0% Fixed-To-Floating Rate Subordinated Notes due 2032 (the “Notes”).

Heritage Commerce Corp Announces Completion of Subordinated Notes Offering

SAN JOSE, Calif., April 28, 2022 (GLOBE NEWSWIRE) -- Heritage Commerce Corp (Nasdaq: HTBK), the holding company (the “Company”) for Heritage Bank of Commerce (the “Bank”), today announced first quarter 2022 net income of $12.9 million, or $0.21 per average diluted common share, compared to $11.2 million, or $0.19 per average diluted common share, for the first quarter of 2021, and $14.0 million, or $0.23 per average diluted common share, for the fourth quarter of 2021. All results are unaudited.

Heritage Commerce Corp Earns $12.9 Million for the First Quarter of 2022

High inflation followed by high interest rates will benefit banks' interest income, positioning them for outperformance against other sectors in the present macroeconomic context. Among banks, HTBK will do especially well as it ranks very high in terms of its share of interest income-to-total revenue and has a large proportion of variable rate loans.

Heritage Commerce: Dividend Yield And Capital Upside Supported By Rising Interest Rates

SAN JOSE, Calif., April 13, 2022 (GLOBE NEWSWIRE) -- Heritage Commerce Corp (Nasdaq: HTBK), the holding company (the “Company”) for Heritage Bank of Commerce (the “Bank”), announced the retirement of Executive Vice President, Michael Benito, effective June 1, 2022. At the same time, Dustin Warford will step in as Executive Vice President, Community Business Banking Division Manager, assuming Mr. Benito's responsibilities. A 17-year veteran of Heritage Bank of Commerce, Warford has consistently been a key contributor to the bank's growth and success.

Michael Benito, Executive Vice President, Retires from Heritage Bank of Commerce; Dustin Warford Promoted to EVP, Community Business Banking Division Manager

SAN JOSE, Calif., March 15, 2022 (GLOBE NEWSWIRE) -- Bay View Funding, a subsidiary of Heritage Bank of Commerce, (“the Bank”), announces the appointment of Norman Brame as Senior Vice President, Regional Sales Manager. He will focus on originating new factoring business in Virginia, Tennessee, North and South Carolina, and surrounding Southeast markets.

Bay View Funding Appoints Norman Brame to Senior Vice President, Regional Sales Manager

SAN JOSE, Calif., Feb. 17, 2022 (GLOBE NEWSWIRE) -- Bay View Funding, a subsidiary of Heritage Bank of Commerce, the Bank, and Heritage Commerce Corp (Nasdaq: HTBK), the holding company, today announced the appointment of Aaron Zahedani as Executive Vice President, Credit & Portfolio Management in San Jose, California, effective immediately. Zahedani returns to Bay View after spending over three years as Vice President, Underwriter with Wells Fargo Capital Finance. In his new role, Mr. Zahedani will focus on overseeing the global credit risk and portfolio management team for all of Bay View Funding's various portfolios.

Aaron Zahedani Returns to Bay View Funding as EVP, Credit & Portfolio Manager, in San Jose, CA

Heritage Commerce (HTBK) delivered earnings and revenue surprises of 4.55% and 1.07%, respectively, for the quarter ended December 2021. Do the numbers hold clues to what lies ahead for the stock?

Heritage Commerce (HTBK) Beats Q4 Earnings and Revenue Estimates

SAN JOSE, Calif., Jan. 27, 2022 (GLOBE NEWSWIRE) -- Heritage Commerce Corp (Nasdaq: HTBK), the holding company (the “Company”) for Heritage Bank of Commerce (the “Bank”), today announced fourth quarter 2021 net income of $14.0 million, or $0.23 per average diluted common share, compared to $11.6 million, or $0.19 per average diluted common share, for the fourth quarter of 2020, and $13.7 million, or $0.23 per average diluted common share, for the third quarter of 2021. For the year ended December 31, 2021, net income was $47.7 million, or $0.79 per average diluted common share, an increase of 35% as compared to $35.3 million, or $0.59 per average diluted common share, for the year ended December 31, 2020. Earnings for the year ended December 31, 2021 included a pre-tax $4.0 million reserve for litigation expense that was recorded during the second quarter of 2021. Earnings for the year end December 31, 2020, were impacted by the effect of a $13.2 million pre-tax provision for potential credit losses on loans, incorporating the forecasted effects on economic activity from the Coronavirus pandemic, and $2.6 million of pre-tax merger-related costs. All results are unaudited.

Heritage Commerce Corp Earns a Record $14.0 Million for the Fourth Quarter of 2021, and a Record $47.7 Million for 2021

Heritage Commerce (HTBK) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

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