Core Viewpoint - Heritage Commerce (HTBK) reported a revenue of 42.16millionforthequarterendedSeptember2024,reflectingan11.40.17, down from 0.26ayearago,withrevenuefallingshortoftheZacksConsensusEstimateof43.14 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 7.16million,exceedingtheaverageestimateof5.87 million by two analysts [2] - Average Balances of Interest Earning Assets were 5.01billion,surpassingtheaverageestimateof4.95 billion by two analysts [2] - Total Non-Performing Assets were reported at 7.16million,higherthantheaverageestimateof6.12 million by two analysts [2] - Net Interest Income was 39.92million,belowtheaverageestimateof40.96 million by three analysts [2] - Total Non-Interest Income was 2.24million,slightlyabovethethree−analystaverageestimateof2.22 million [2] - Gain on Sale of SBA Loans was 0.09million,comparedtotheaverageestimateof0.12 million based on two analysts [2] - Net Interest Income (FTE) was 39.97million,lowerthantheaverageestimateof40.77 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]
Heritage merce p(HTBK) ZACKS·2024-10-25 01:00