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Heritage Commerce (HTBK) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
Heritage Commerce (HTBK - Free Report) reported $42.16 million in revenue for the quarter ended September 2024, representing a year-over-year decline of 11.4%. EPS of $0.17 for the same period compares to $0.26 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $43.14 million, representing a surprise of -2.28%. The company has not delivered EPS surprise, with the consensus EPS estimate being $0.17.
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.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
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: 65.4% versus the three-analyst average estimate of 63.5%.
- Net Interest Margin [%]: 3.2% versus the three-analyst average estimate of 3.3%.
- Total Non-Performing - Loan: $7.16 million versus $5.87 million estimated by two analysts on average.
- Average Balances-Interest earning assets: $5.01 billion versus $4.95 billion estimated by two analysts on average.
- Total Non-Performing - Assets: $7.16 million versus $6.12 million estimated by two analysts on average.
- Net Interest Income: $39.92 million versus $40.96 million estimated by three analysts on average.
- Total Non Interest Income: $2.24 million versus the three-analyst average estimate of $2.22 million.
- Gain on sale of SBA loans: $0.09 million compared to the $0.12 million average estimate based on two analysts.
- Net Interest Income (FTE): $39.97 million compared to the $40.77 million average estimate based on two analysts.
View all Key Company Metrics for Heritage Commerce here>>>Shares of Heritage Commerce have returned -0.2% over the past month versus the Zacks S&P 500 composite's +1.5% 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.