Stock Track | Heritage Commerce Plunges 22.74% Pre-market as Q4 Earnings Miss Estimates

Stock Track01-24

Heritage Commerce Corp (HTBK) stock plunged 22.74% in pre-market trading on Friday, January 24, 2025, following the release of its fourth-quarter 2024 earnings results.

The San Jose-based bank reported Q4 earnings per share (EPS) of $0.17, missing the Zacks Consensus Estimate of $0.18 and down from $0.22 in the year-ago quarter. Despite beating revenue expectations of $43.56 million with reported revenue of $46.37 million, several key profitability metrics like net interest margin and efficiency ratio fell short of analyst estimates.

While Heritage Commerce's revenue grew 4.8% year-over-year, the company's bottom line was impacted by higher expenses and a challenging operating environment. The bank's outlook remains cautious, with analysts projecting 2025 EPS of $0.72 on revenue of $180.02 million. Investors will closely monitor the company's cost management and asset quality as it navigates the current economic conditions.

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