For the quarter ended December 2023, Heritage Commerce (HTBK) reported revenue of $44.24 million, down 18.8% over the same period last year. EPS came in at $0.22, compared to $0.34 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $46.38 million, representing a surprise of -4.61%. The company delivered an EPS surprise of -8.33%, with the consensus EPS estimate being $0.24.
While investors closely watch year-over-year changes in headline numbers — revenue and earnings — and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company’s underlying performance.
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:
- Net Interest Margin [%]: 3.4% versus the three-analyst average estimate of 3.5%.
- Efficiency Ratio: 57.6% compared to the 54.7% average estimate based on three analysts.
- Total Non-Performing – Loan: $7.71 million versus $6.01 million estimated by two analysts on average.
- Total Non-Performing – Assets: $7.71 million compared to the $6.01 million average estimate based on two analysts.
- Average Balances-Interest earning assets: $4.92 billion compared to the $5.06 billion average estimate based on two analysts.
- Net Interest Income: $42.30 million versus the three-analyst average estimate of $44.36 million.
- Total Non Interest Income: $1.94 million compared to the $2.09 million average estimate based on three analysts.
- Net Interest Income (FTE): $42.36 million compared to the $44.48 million average estimate based on two analysts.
View all Key Company Metrics for Heritage Commerce here>>>
Shares of Heritage Commerce have returned -3.9% over the past month versus the Zacks S&P 500 composite’s +2.5% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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