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Here's What Key Metrics Tell Us About Heritage Commerce (HTBK) Q2 Earnings
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Heritage Commerce (HTBK - Free Report) reported $41.73 million in revenue for the quarter ended June 2024, representing a year-over-year decline of 13.7%. EPS of $0.15 for the same period compares to $0.27 a year ago.
The reported revenue represents a surprise of -3.73% over the Zacks Consensus Estimate of $43.35 million. With the consensus EPS estimate being $0.19, the EPS surprise was -21.05%.
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.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
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: 67.6% compared to the 61.4% average estimate based on three analysts.
Net Interest Margin [%]: 3.3% compared to the 3.4% average estimate based on three analysts.
Total Non-Performing - Loan: $6.03 million versus the two-analyst average estimate of $8.24 million.
Average Balances-Interest earning assets: $4.87 billion versus the two-analyst average estimate of $5.46 billion.
Total Non-Performing - Assets: $6.03 million versus the two-analyst average estimate of $8.24 million.
Net Interest Income: $39.46 million compared to the $41.19 million average estimate based on three analysts.
Total Non Interest Income: $2.28 million versus $2.16 million estimated by three analysts on average.
Gain on sale of SBA loans: $0.08 million versus $0.19 million estimated by two analysts on average.
Net Interest Income (FTE): $39.52 million versus the two-analyst average estimate of $41.11 million.
Shares of Heritage Commerce have returned +25.8% over the past month versus the Zacks S&P 500 composite's -0.3% 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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Here's What Key Metrics Tell Us About Heritage Commerce (HTBK) Q2 Earnings
Heritage Commerce (HTBK - Free Report) reported $41.73 million in revenue for the quarter ended June 2024, representing a year-over-year decline of 13.7%. EPS of $0.15 for the same period compares to $0.27 a year ago.
The reported revenue represents a surprise of -3.73% over the Zacks Consensus Estimate of $43.35 million. With the consensus EPS estimate being $0.19, the EPS surprise was -21.05%.
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.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
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: 67.6% compared to the 61.4% average estimate based on three analysts.
- Net Interest Margin [%]: 3.3% compared to the 3.4% average estimate based on three analysts.
- Total Non-Performing - Loan: $6.03 million versus the two-analyst average estimate of $8.24 million.
- Average Balances-Interest earning assets: $4.87 billion versus the two-analyst average estimate of $5.46 billion.
- Total Non-Performing - Assets: $6.03 million versus the two-analyst average estimate of $8.24 million.
- Net Interest Income: $39.46 million compared to the $41.19 million average estimate based on three analysts.
- Total Non Interest Income: $2.28 million versus $2.16 million estimated by three analysts on average.
- Gain on sale of SBA loans: $0.08 million versus $0.19 million estimated by two analysts on average.
- Net Interest Income (FTE): $39.52 million versus the two-analyst average estimate of $41.11 million.
View all Key Company Metrics for Heritage Commerce here>>>Shares of Heritage Commerce have returned +25.8% over the past month versus the Zacks S&P 500 composite's -0.3% 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.