Heritage Commerce (HTBK) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates

Core Viewpoint - Heritage Commerce (HTBK) reported a revenue of $42.16 million for the quarter ended September 2024, reflecting an 11.4% year-over-year decline and an EPS of $0.17, down from $0.26 a year ago, with revenue falling short of the Zacks Consensus Estimate of $43.14 million by 2.28% [1] Financial Performance Metrics - Efficiency Ratio was reported at 65.4%, higher than the three-analyst average estimate of 63.5% [2] - Net Interest Margin was 3.2%, slightly below the three-analyst average estimate of 3.3% [2] - Total Non-Performing Loans amounted to $7.16 million, exceeding the average estimate of $5.87 million by two analysts [2] - Average Balances of Interest Earning Assets were $5.01 billion, surpassing the average estimate of $4.95 billion by two analysts [2] - Total Non-Performing Assets were reported at $7.16 million, higher than the average estimate of $6.12 million by two analysts [2] - Net Interest Income was $39.92 million, below the average estimate of $40.96 million by three analysts [2] - Total Non-Interest Income was $2.24 million, slightly above the three-analyst average estimate of $2.22 million [2] - Gain on Sale of SBA Loans was $0.09 million, compared to the average estimate of $0.12 million based on two analysts [2] - Net Interest Income (FTE) was $39.97 million, lower than the average estimate of $40.77 million based on two analysts [2] Stock Performance - Shares of Heritage Commerce have returned -0.2% over the past month, while the Zacks S&P 500 composite has changed by +1.5%, indicating underperformance relative to the broader market [3] - The stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [3]