Heritage Commerce (HTBK) Reports Q3 Earnings: What Key Metrics Have to Say
Heritage Commerce (HTBK) reported $47.59 million in revenue for the quarter ended September 2023, representing a year-over-year decline of 6.4%. EPS of $0.26 for the same period compares to $0.30 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $47.81 million, representing a surprise of -0.47%. The company has not delivered EPS surprise, with the consensus EPS estimate being $0.26.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Heritage Commerce performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Efficiency Ratio: 52.9% versus the three-analyst average estimate of 52.5%.
Net Interest Margin [%]: 3.6% versus 3.7% estimated by three analysts on average.
Total Non-Performing - Loan: $5.48 million compared to the $6.28 million average estimate based on two analysts.
Average Balances-Interest earning assets: $5.05 billion versus $4.96 billion estimated by two analysts on average.
Total Non-Performing - Assets: $5.48 million compared to the $6.28 million average estimate based on two analysts.
Net Interest Income: $45.37 million versus the three-analyst average estimate of $45.68 million.
Total Non Interest Income: $2.22 million compared to the $2.13 million average estimate based on three analysts.
Gain on sale of SBA loans: $0.21 million versus $0.20 million estimated by two analysts on average.
Net Interest Income (FTE): $45.43 million versus the two-analyst average estimate of $45.55 million.
View all Key Company Metrics for Heritage Commerce here>>>
Shares of Heritage Commerce have returned -3.4% over the past month versus the Zacks S&P 500 composite's -3.4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Heritage Commerce Corp (HTBK) : Free Stock Analysis Report
