Heritage Commerce (HTBK) Q3 Earnings Match Estimates

Company Performance - Heritage Commerce reported quarterly earnings of $0.17 per share, matching the Zacks Consensus Estimate, but down from $0.26 per share a year ago [1] - The company posted revenues of $42.16 million for the quarter ended September 2024, missing the Zacks Consensus Estimate by 2.28% and down from $47.59 million year-over-year [1] - Over the last four quarters, Heritage Commerce has not surpassed consensus EPS or revenue estimates [1] Stock Outlook - Heritage Commerce shares have declined approximately 2.1% since the beginning of the year, contrasting with the S&P 500's gain of 21.5% [2] - The current consensus EPS estimate for the upcoming quarter is $0.18 on revenues of $43.74 million, and for the current fiscal year, it is $0.65 on revenues of $170.67 million [4] Industry Context - The Zacks Industry Rank for Banks - West is in the bottom 39% of over 250 Zacks industries, indicating potential challenges for stocks in this sector [5] - Coastal Financial Corporation, a peer in the same industry, is expected to report quarterly earnings of $0.96 per share, reflecting a year-over-year increase of 28% [5]