Heritage Commerce: 2Q Earnings Snapshot
Posted July 23, 2020 6:31 pm.
Last Updated July 23, 2020 6:38 pm.
This article is more than 5 years old.
SAN JOSE, Calif. (AP) _ Heritage Commerce Corp. (HTBK) on Thursday reported second-quarter earnings of $10.6 million.
The San Jose, California-based bank said it had earnings of 18 cents per share.
The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 12 cents per share.
The holding company for Heritage Bank of Commerce posted revenue of $39.2 million in the period. Its revenue net of interest expense was $37 million, which fell short of Street forecasts. Four analysts surveyed by Zacks expected $38.5 million.
Heritage Commerce shares have fallen 45% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $7.07, a decrease of 41% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on HTBK at https://www.zacks.com/ap/HTBK
The Associated Press
