Heritage Commerce: Q1 Earnings Snapshot
SAN JOSE, Calif. (AP) _ Heritage Commerce Corp. (HTBK) on Thursday reported first-quarter earnings of $11.2 million.
The bank, based in San Jose, California, said it had earnings of 19 cents per share.
The results met Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was also for earnings of 19 cents per share.
The holding company for Heritage Bank of Commerce posted revenue of $39.1 million in the period. Its revenue net of interest expense was $37.3 million, which fell short of Street forecasts. Three analysts surveyed by Zacks expected $38 million.
Heritage Commerce shares have risen 31% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $11.63, a rise of 49% in the last 12 months.