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Heritage Commerce: 1Q Earnings Snapshot

SAN JOSE, Calif. (AP) _ Heritage Commerce Corp. (HTBK) on Thursday reported first-quarter earnings of $12.1 million.

The San Jose, California-based bank said it had earnings of 28 cents per share.

The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 29 cents per share.

The holding company for Heritage Bank of Commerce posted revenue of $35.9 million in the period. Its revenue net of interest expense was $33.5 million, which also missed Street forecasts. Three analysts surveyed by Zacks expected $35.2 million.

Heritage Commerce shares have climbed 11 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $12.63, a drop of 25 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on HTBK at https://www.zacks.com/ap/HTBK