Heritage Commerce Corp - Understand $htbk stock

$HTBK Market Cap: $654.1 Million

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Financial Snapshot

Revenue

$2.676M

TTM

Gross Margin

Net Earnings

$43.24M

TTM

Current Assets

Current Liabilities

$97.10M

Q3 2024

Current Ratio

Total Assets

$5.552B

Q3 2024

Total Liabilities

$4.866B

Q3 2024

Book Value

$685.4M

Q3 2024

Cash

$956.3M

Q3 2024

P/E

15.13

Nov 14, 2024 EST

Free Cash Flow

$11.74M

TTM

Revenues

Revenue YoY Change

Revenues

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003	2002	2001	2000	1999	1998	1997	1996
Revenue	$4.341M	$4.640M	$153.3M	$150.5M	$142.7M	$129.8M					$52.79M	$52.57M	$52.03M	$55.09M	$62.29M
YoY Change	-6.44%	-96.97%	1.85%	5.48%	9.87%						0.42%	1.03%	-5.55%	-11.57%

Expenses

Cost Of Revenues

Gross Profit

Gross Profit Margin

Gross Profit

Concept	2023	2022	2021	2020	2019	2018	2013	2012	2011	2010	2009
Revenue	$4.341M	$4.640M	$153.3M	$150.5M	$142.7M	$129.8M	$52.79M	$52.57M	$52.03M	$55.09M	$62.29M
Cost Of Revenue
Gross Profit
Gross Profit Margin

Selling, General & Admin Expense

Research & Development

Depreciation, Depletion & Amortization

SGA Expense to Gross Profit Ratio

R&D To Gross Profit Ratio

DDA To Gross Profit Ratio

Operating Expenses Total

Operating Profits/Loss

Operational Expenses

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003	2002	2001	2000	1999	1998	1997	1996
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization	$3.521M	$3.756M	$4.070M	$4.700M	$3.590M	$2.690M	$2.150M	$2.330M	$1.730M	$1.240M	$729.0K	$750.0K	$766.0K	$799.0K	$807.0K	$1.760M	$1.130M	$660.0K	$990.0K	$1.370M	$2.000M	$1.830M	$1.530M	$780.0K	$710.0K	$1.050M	$390.0K	$260.0K
YoY Change	-6.26%	-7.71%	-13.4%	30.92%	33.46%	25.12%	-7.73%	34.68%	39.52%	70.1%	-2.8%	-2.09%	-4.13%	-0.99%	-54.15%	55.75%	71.21%	-33.33%	-27.74%	-31.5%	9.29%	19.61%	96.15%	9.86%	-32.38%	169.23%	50.0%	36.84%
% of Gross Profit
Operating Expenses
YoY Change
Operating Profit
YoY Change

Interest Expenses

Interest Expenses To Operating Income %

Other Expense/Income

Interest & Other Expense/Income

Concept	2023	2022	2021	2020	2019	2018	2013	2012	2011	2010	2009
Interest Expense	$51.07M	$8.948M	$7.131M	$8.581M	$10.85M	$7.822M	$2.600M	$4.187M	$5.875M	$10.51M	$16.33M
YoY Change	470.79%	25.48%	-16.9%	-20.89%	38.67%		-37.9%	-28.73%	-44.11%	-35.61%
% of Operating Profit
Other Income/Expense, Net
YoY Change

Income/Loss

Pretax Income

Income Tax

Net Profits/Loss

Pretax Income YoY Change

Income Tax Rate

Net Profits/Loss YoY Change

Basic EPS

Net Income To Revenue Ratio

Pretax & Net Income

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003	2002	2001	2000	1999	1998	1997	1996
Pretax Income	$90.42M	$94.37M	$65.87M	$49.07M	$56.31M	$48.66M	$50.30M	$44.00M	$26.60M	$21.00M	$16.49M	$14.20M	$10.54M	-$61.62M	-$24.69M	$400.0K	$22.20M	$26.50M	$21.70M	$11.70M	$11.30M	$10.60M	$11.70M	$8.500M	$7.300M	$5.800M	$2.400M	$1.600M
YoY Change	-4.18%	43.26%	34.24%	-12.86%	15.74%	-3.27%	14.32%	65.41%	26.67%	27.32%	16.13%	34.79%	-117.1%	149.55%	-6273.5%	-98.2%	-16.23%	22.12%	85.47%	3.54%	6.6%	-9.4%	37.65%	16.44%	25.86%	141.67%	50.0%	700.0%
Income Tax	$25.98M	$27.81M	$18.17M	$13.77M	$15.85M	$13.32M	$19.40M	$16.60M	$10.10M	$7.500M	$4.954M	$4.294M	-$834.0K	-$5.766M	-$12.71M	-$1.400M	$8.100M	$9.200M	$7.300M	$3.200M	$3.500M	$3.500M	$4.400M	$3.000M	$2.600M	$2.300M	$800.0K	$200.0K
% Of Pretax Income	28.73%	29.47%	27.58%	28.06%	28.15%	27.38%	38.57%	37.73%	37.97%	35.71%	30.04%	30.23%	-7.91%			-350.0%	36.49%	34.72%	33.64%	27.35%	30.97%	33.02%	37.61%	35.29%	35.62%	39.66%	33.33%	12.5%
Net Earnings	$64.44M	$66.56M	$47.70M	$35.30M	$40.46M	$35.33M	$23.80M	$27.40M	$16.50M	$13.40M	$11.54M	$9.909M	$11.37M	-$55.86M	-$11.99M	$1.800M	$14.10M	$17.30M	$14.40M	$8.500M	$7.800M	$7.200M	$7.300M	$5.400M	$4.700M	$3.500M	$1.600M	$1.400M
YoY Change	-3.17%	39.53%	35.13%	-12.76%	14.52%	48.45%	-13.14%	66.06%	23.13%	16.12%	16.46%	-12.86%	-120.36%	366.06%	-765.83%	-87.23%	-18.5%	20.14%	69.41%	8.97%	8.33%	-1.37%	35.19%	14.89%	34.29%	118.75%	14.29%	600.0%
Net Earnings / Revenue	1484.52%	1434.38%	31.12%	23.46%	28.36%	27.21%					21.86%	18.85%	21.85%	-101.4%	-19.24%
Basic Earnings Per Share	$1.06	$1.10	$0.79	$0.59	$0.87	$0.85					$0.36	$0.27	$0.28	-$3.64	-$1.21
Diluted Earnings Per Share	$1.05	$1.089M	$0.79	$0.59	$0.84	$0.84	$616.6K	$801.2K	$572.9K	$505.7K	$0.36	$0.27	$0.28	-$3.64	-$1.21	$150.0K	$1.119M	$1.442M	$1.190M	$708.3K	$672.4K	$637.2K	$640.4K	$486.5K	$431.2K	$353.5K	$280.7K	$280.0K

Assets & Liabilities

Cash & Short-Term Investments

Cash & Equivalents

Cash To Operating Expenses Ratio

Inventory

Receivables

Total Short-Term Assets

Property, Plant And Equipment

Long-Term Investments

Total Long-Term Assets

Total Assets

Net Income To Total Assets Percentage

Accounts Payable

Short-Term Debt

Long Term Debt Due

Total Short-Term Liabilities

Long-Term Debt

Other Long-Term Liabilities

Total Long-Term Liabilities

Total Liabilities

Short-Term To Long-Term Debt Ratio

Short-Term Assets To Debt Ratio

Long-Term Debt To Net Income Ratio

Assets & Liabilities

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003	2002	2001	2000	1999	1998	1997	1996
Cash & Short-Term Investments
YoY Change
Cash & Equivalents
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
Property, Plant & Equipment	$9.857M	$9.301M	$44.50M	$46.30M	$20.40M	$7.100M	$7.400M	$7.500M	$7.800M	$7.500M	$7.200M	$7.500M	$8.000M	$8.400M	$9.000M	$9.500M	$9.300M	$2.500M	$2.500M	$3.200M	$4.000M	$5.200M	$5.500M	$6.400M	$6.900M	$3.200M	$2.000M	$1.500M
YoY Change	5.98%	-79.1%	-3.89%	126.96%	187.32%	-4.05%	-1.33%	-3.85%	4.0%	4.17%	-4.0%	-6.25%	-4.76%	-6.67%	-5.26%	2.15%	272.0%	0.0%	-21.88%	-20.0%	-23.08%	-5.45%	-14.06%	-7.25%	115.63%	60.0%	33.33%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets
YoY Change
Total Assets	$5.194B	$5.154B	$5.499B	$4.634B	$4.110B	$3.097B	$2.844B	$2.571B	$2.362B	$1.617B	$1.492B	$1.693B	$1.306B	$1.246B	$1.364B	$1.499B	$1.348B	$1.037B	$1.131B	$1.108B	$1.006B	$958.8M	$912.7M	$846.2M	$677.2M	$404.9M	$267.6M	$173.3M
YoY Change
Accounts Payable	$103.2M	$92.81M	$67.20M	$66.10M	$65.10M	$52.20M	$50.00M	$48.90M	$50.40M	$44.40M	$32.00M	$34.90M	$35.20M	$39.20M	$33.60M	$32.20M	$23.80M	$22.20M	$22.70M	$19.60M	$13.80M	$11.60M	$11.20M	$10.30M	$7.300M	$5.300M	$2.300M	$1.400M
YoY Change	11.23%	38.12%	1.66%	1.54%	24.71%	4.4%	2.25%	-2.98%	13.51%	38.75%	-8.31%	-0.85%	-10.2%	16.67%	4.35%	35.29%	7.21%	-2.2%	15.82%	42.03%	18.97%	3.57%	8.74%	41.1%	37.74%	130.43%	64.29%
Accrued Expenses	$31.67M	$33.03M	$34.90M	$35.90M	$13.00M
YoY Change	-4.11%	-5.36%	-2.79%	176.15%
Deferred Revenue
YoY Change
Short-Term Debt	$0.00			$0.00	$300.0K				$3.000M				$0.00	$7.400M	$45.00M	$105.0M	$70.90M	$21.80M	$32.70M								$0.00	$5.000M
YoY Change				-100.0%									-100.0%	-83.56%	-57.14%	48.1%	225.23%	-33.33%									-100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities	$103.2M	$92.81M	$102.1M	$102.0M	$78.10M	$52.20M	$50.00M	$48.90M	$50.40M	$44.40M	$32.00M	$34.90M	$35.20M	$39.20M	$33.60M	$32.20M	$23.80M	$22.20M	$22.70M	$19.60M	$13.80M	$11.60M	$11.20M	$10.30M	$7.300M	$5.300M	$2.300M	$1.400M
YoY Change	11.23%	-9.1%	0.1%	30.6%	49.62%	4.4%	2.25%	-2.98%	13.51%	38.75%	-8.31%	-0.85%	-10.2%	16.67%	4.35%	35.29%	7.21%	-2.2%	15.82%	42.03%	18.97%	3.57%	8.74%	41.1%	37.74%	130.43%	64.29%
Long-Term Debt	$39.50M	$39.35M	$39.90M	$39.70M	$39.60M	$39.40M	$39.20M	$0.00	$0.00	$0.00	$0.00	$9.300M	$23.70M	$23.70M	$23.70M	$23.70M	$23.70M	$23.70M	$23.70M	$71.50M	$52.30M	$23.00M	$19.00M	$14.00M	$0.00	$0.00	$0.00	$0.00
YoY Change	0.39%	-1.38%	0.5%	0.25%	0.51%	0.51%					-100.0%	-60.76%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	-66.85%	36.71%	127.39%	21.05%	35.71%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities	$39.50M	$39.35M	$39.90M	$39.70M	$39.60M	$39.40M	$39.20M	$0.00	$0.00	$0.00	$0.00	$9.300M	$23.70M	$23.70M	$23.70M	$23.70M	$23.70M	$23.70M	$23.70M	$71.50M	$52.30M	$23.00M	$19.00M	$14.00M	$0.00	$0.00	$0.00	$0.00
YoY Change	0.39%	-1.38%	0.5%	0.25%	0.51%	0.51%					-100.0%	-60.76%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	-66.85%	36.71%	127.39%	21.05%	35.71%
Total Liabilities	$4.521B	$4.522B	$4.901B	$4.056B	$3.533B	$2.729B	$2.572B	$2.311B	$2.116B	$1.433B	$1.318B	$1.524B	$1.108B	$1.064B	$1.192B	$1.315B	$1.183B	$914.3M	$1.019B	$1.010B	$916.5M	$876.5M	$838.2M	$780.5M	$620.7M	$374.2M	$245.2M	$152.8M
YoY Change	-0.01%	-7.75%	20.84%	14.82%	29.45%	6.1%	11.3%	9.21%	47.7%	8.69%	-13.48%	37.46%	4.15%	-10.69%	-9.38%	11.2%	29.34%	-10.27%	0.92%	10.16%	4.56%	4.57%	7.39%	25.75%	65.87%	52.61%	60.47%

Ownership

Basic Shares Outstanding

Diluted Shares Outstanding

Preferred Stock

Treasury Stock Shares

Stock Issuance & Repurchase

Ownership Data

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010
Basic Shares Outstanding							38.10M	33.93M	28.57M	26.39M	26.34M shares	26.30M shares	26.27M shares	16.03M shares
Diluted Shares Outstanding	61.31M	61.09M	60.69M	60.17M	47.91M	42.18M					26.39M shares	26.33M shares	26.27M shares	16.03M shares
Preferred Stock
Treasury Stock Shares

Return On Shareholders' Equity

Book Value

Free Cash Flow

Free Cash Flow YoY

Free Cash Flow Margin

Dividends

Stock Price

Market Cap: $654.11 Million

About Heritage Commerce Corp

Heritage Commerce Corp. is a bank holding company, which engages in the provision of banking services. The company is headquartered in San Jose, California and currently employs 351 full-time employees. The Bank offers a full range of commercial banking services to small and medium-sized businesses and their owners, managers and employees. Its lending activities are diversified and include commercial, real estate, construction and land development, consumer and small business administration (SBA) guaranteed loans. The Bank offers a wide range of deposit products for business banking and retail markets. The company offers a multitude of other products and services to complement its lending and deposit services. In addition, through its subsidiary, CSNK Working Capital Finance Corp, it provides factoring financing throughout the United States. The Company’s operations are located in the general San Francisco Bay Area of California in the counties of Alameda, Contra Costa, Marin, San Benito, San Francisco, San Mateo, and Santa Clara.

Industry: State Commercial Banks Peers: Amalgamated Bank Bank First Corp CrossFirst Bankshares Inc First Mid Bancshares Inc Hanmi Financial Corp HarborOne Bancorp Inc Hills Bancorp PNC Financial Services Group Inc Republic Bancorp Inc Univest Financial Corp