Heritage Commerce Q1 2024 GAAP EPS $0.17 Misses $0.18 Estimate, Sales $42.140M Miss $42.284M Estimate
Portfolio Pulse from Benzinga Newsdesk
Heritage Commerce (NASDAQ:HTBK) reported Q1 2024 earnings of $0.17 per share, missing the consensus estimate of $0.18, a 45.16% decrease from last year. Sales were $42.140M, missing the estimate of $42.284M, a 19% decrease from the previous year.
April 26, 2024 | 7:00 am
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NEGATIVE IMPACT
Heritage Commerce reported lower than expected Q1 2024 earnings and sales, with a significant decrease compared to last year.
Missing both earnings and sales estimates can lead to negative investor sentiment, especially with the significant year-over-year declines. This typically results in downward pressure on the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100