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Heritage Commerce Corp  (HTBK)
Other Ticker:  
 
    Sector  Financial    Industry Regional Banks
   Industry Regional Banks
   Sector  Financial
 

HTBK's Net Income Growth by Quarter and Year

Heritage Commerce's Net Income results by quarter and year




HTBK Net Income (in millions $) FY 2023 FY 2022 FY 2021 FY 2020
IV Quarter December 13.33 20.80 13.97 11.62
III Quarter September 15.80 18.07 13.72 11.20
II Quarter June 16.40 14.82 8.81 10.62
I Quarter March 18.92 12.87 11.20 1.86
FY   64.45 66.56 47.70 35.30



HTBK Net Income fourth quarter 2023 Y/Y Growth Comment
Heritage Commerce Corp reported fall in Net Income in the fourth quarter 2023 by -35.92% to $ 13.33 millions, from the same quarter in 2022.
The drop in the fourth quarter 2023 Heritage Commerce Corp's Net Income compares unfavorably to the Company's average Net Income rise of 25.21%.

Looking into fourth quarter 2023 results within Regional Banks industry 16 other companies have achieved higher Net Income growth. While Heritage Commerce Corp' s Net Income drop of -35.92% ranks overall at the positon no. 551 in the fourth quarter 2023.




HTBK Net Income ( Y/Y Growth %) 2023
2022 2021 2020
IV Quarter December -35.92 % 48.89 % 20.22 % 104.22 %
III Quarter September -12.56 % 31.71 % 22.5 % -0.71 %
II Quarter June 10.66 % 68.22 % -17.04 % -6.43 %
I Quarter March 47.01 % 14.91 % 502.15 % -84.69 %
FY   -3.17 % 39.54 % 35.13 % -12.77 %

Financial Statements
Heritage Commerce's fourth quarter 2023 Net Income $ 13.33 millions HTBK's Income Statement
Heritage Commerce's fourth quarter 2022 Net Income $ 20.80 millions Quarterly HTBK's Income Statement
New: More HTBK's historic Net Income Growth >>


HTBK Net Income (Quarter on Quarter Growth %)

2023
2022 2021 2020
IV Quarter December -15.65 % 15.11 % 1.82 % 3.75 %
III Quarter September -3.66 % 21.93 % 55.73 % 5.46 %
II Quarter June -13.32 % 15.15 % -21.34 % 470.97 %
I Quarter March -9.04 % -7.87 % -3.61 % -67.31 %
FY (Year on Year)   -3.17 % 39.54 % 35.13 % -12.77 %




Net Income fourth quarter 2023 Y/Y Growth Company Ranking
Within: No.
Regional Banks Industry #17
Financial Sector #112
Overall #551

Net Income Y/Y Growth Statistics
High Average Low
150.99 % 25.21 % -40.05 %
(Jun 30 2019)   (Jun 30 2020)
Net Income fourth quarter 2023 Y/Y Growth Company Ranking
Within: No.
Regional Banks Industry #17
Financial Sector #112
Overall #551
Net Income Y/Y Growth Statistics
High Average Low
150.99 % 25.21 % -40.05 %
(Jun 30 2019)   (Jun 30 2020)

Net Income by Quarter for the Fiscal Years 2020, 2021, 2022, 2023

Heritage Commerce's Q/Q Net Income Growth


Net Income Q/Q Growth Statistics
High Average Low
1252.46 % 48.86 % -89.61 %
(Sep 30 2018)  


HTBK's IV. Quarter Q/Q Net Income Comment
In the IV. Quarter 2023 Heritage Commerce Corp reported fall in Net Income from the previous quarter by -15.65% to $ 13.33 millions, from $ 15.80 millions achived in the previous reporting period.

Some periodic influence were not able to salvage the IV. Quarter for the Heritage Commerce Corp, Isabelle  Walker, Financial sector veteran pointed out, she identified additional headwinds ahead for HTBK.

Within Regional Banks industry 53 other companies have achieved higher Net Income quarter on quarter growth. While Heritage Commerce's Net Income growth quarter on quarter, overall rank is 888.


Net Income Q/Q Growth Company Ranking
Within: No.
Regional Banks Industry #54
Financial Sector #214
Overall #888
Net Income Q/Q Growth Company Ranking
Within: No.
Regional Banks Industry #54
Financial Sector #214
Overall #888
Net Income Q/Q Growth Statistics
High Average Low
1252.46 % 48.86 % -89.61 %
(Sep 30 2018)  


HTBK's IV. Quarter Q/Q Net Income Comment
In the IV. Quarter 2023 Heritage Commerce Corp disclosed fall in Net Income from the third quarter by -15.65% to $ 13.33 millions, from $ 15.80 millions declared a quarter before.

Some seasonal influence that normally elevate IV. Quarter 2023 results, could not recover the IV. Quarter for the Heritage Commerce Corp, Isabelle  Walker, Financial sector veteran said and wrote that average quarter on quarter Net Income growth is at 48.86% for HTBK.

Within Regional Banks industry 53 other companies have achieved higher Net Income quarter on quarter growth. While Heritage Commerce's Net Income growth quarter on quarter, overall rank is 888.


Heritage Commerce's 12 Months Net Income Growth Year on Year


Net Income TTM Growth

12 Months Ending
(Dec 31 2023)
12 Months Ending
(Sep 30 2023)
12 Months Ending
(Jun 30 2023)
12 Months Ending
(Mar 31 2023)
12 Months Ending
(Dec 31 2022)
Cumulative Net Income 12 Months Ending $ 64.44 $ 71.91 $ 74.19 $ 72.61 $ 66.56
Y / Y Net Income Growth (TTM) -3.17 % 20.42 % 33.99 % 47.09 % 39.53 %
Year on Year Net Income Growth Overall Ranking # 317 # 264 # 344 # 819 # 321
Seqeuential Net Income Change (TTM) -10.39 % -3.07 % 2.18 % 9.09 % 11.44 %
Seq. Net Income Growth (TTM) Overall Ranking # 551 # 832 # 837 # 930 # 780




Cumulative Net Income growth Comment
For the 12 months ended Dec 31 2023 Heritage Commerce reported a decrease in Net Income by -3.17% year on year, to $64 millions, compare to the 20.42% growth at Sep 30 2023.

In the Financial sector 60 other companies have achieved higher trailing twelve month Net Income growth. While Net Income growth total ranking has deteriorated compare to previous quarter from 264 to 317.

Net Income TTM Q/Q Growth Statistics
High Average Low
150.99 %
25.21 %
-40.05 %
 

Net Income TTM Y/Y Growth Company Ranking
Within: No.
Regional Banks Industry # 17
Financial Sector # 61
Overall # 317

Net Income TTM Y/Y Growth Statistics
High Average Low
150.99 %
25.21 %
-40.05 %
 


Net Income TTM Q/Q Growth Company Ranking
Within: No.
Industry # 17
Sector # 112
S&P 500 # 551
Cumulative Net Income growth Comment
For the 12 months ended Dec 31 2023 Heritage Commerce reported a decrease in Net Income by -3.17% year on year, to $64 millions, compare to the 20.42% growth at Sep 30 2023.

In the Financial sector 60 other companies have achieved higher trailing twelve month Net Income growth. While Net Income growth total ranking has deteriorated compare to previous quarter from 264 to 317.

Net Income TTM Q/Q Growth Statistics
High Average Low
150.99 %
25.21 %
-40.05 %
 


Net Income TTM Y/Y Growth Company Ranking
Within: No.
Regional Banks Industry # 17
Financial Sector # 61
Overall # 317

Net Income TTM Y/Y Growth Statistics
High Average Low
150.99 %
25.21 %
-40.05 %
 


Net Income TTM Q/Q Growth Company Ranking
Within: No.
Industry # 17
Sector # 112
S&P 500 # 551




Other Net Income Growth
Regional Banks Industry Net Income Growth Trends and Statistics
Financial Sector Net Income Growth Statistics
Net Income Growth Trends for overall market
HTBK's Net Income Growth Ratio versus Regional Banks Industry, Financial Sector and total Market
Highest Ranking Net Income Growth
Lowest Ranking Net Income Growth
Net Income Growth for HTBK's Competitors
Net Income Growth for Heritage Commerce's Suppliers
Net Income Growth for HTBK's Customers

You may also want to know
HTBK's Annual Growth Rates HTBK's Profitability Ratios HTBK's Asset Turnover Ratio HTBK's Dividend Growth
HTBK's Roe HTBK's Valuation Ratios HTBK's Financial Strength Ratios HTBK's Dividend Payout Ratio
HTBK's Roa HTBK's Inventory Turnover Ratio HTBK's Growth Rates HTBK's Dividend Comparisons



Companies with similar Net Income decrease for the quarter ending Dec 31 2023 within Financial SectorY/Y Change %Net Income for the quarter ending Dec 31 2023
Lloyds Banking Group Plc-0.67%$ -0.666 millions
Republic Bancorp inc -0.69%$ -0.692 millions
American Assets Trust Inc -1.19%$ -1.193 millions
Boston Properties Inc -1.65%$ -1.649 millions
Pathward Financial Inc -1.79%$ -1.787 millions
Unity Bancorp inc -1.87%$ -1.868 millions
Raymond James Financial Inc -2.16%$ -2.161 millions
Flushing Financial Corporation-2.16%$ -2.162 millions
Top Financial Group Ltd-2.68%$ -2.680 millions
Phillips Edison and Company Inc -3.28%$ -3.280 millions
Employers Holdings Inc -3.39%$ -3.390 millions
Mgic Investment Corp-3.62%$ -3.625 millions
Realty Income Corporation-3.75%$ -3.755 millions
Plumas Bancorp-3.81%$ -3.812 millions
Citizens Financial Services Inc -4.25%$ -4.254 millions
Franklin Financial Services Corporation-6.62%$ -6.618 millions
Tfs Financial Corporation-6.70%$ -6.696 millions
Federal Home Loan Bank Of Boston-7.04%$ -7.042 millions
Us Bancorp De-7.42%$ -7.419 millions
The Cigna Group-7.60%$ -7.596 millions
S and t Bancorp Inc -8.00%$ -8.003 millions
Onemain Holdings Inc -8.33%$ -8.333 millions
Amalgamated Financial Corp -8.34%$ -8.342 millions
1st Source Corporation-8.50%$ -8.498 millions
Ohio Valley Banc Corp-8.54%$ -8.541 millions
Magyar Bancorp Inc -8.73%$ -8.729 millions
Independent Bank Corporation-8.90%$ -8.902 millions
Provident Financial Holdings inc -9.70%$ -9.701 millions
Stonex Group Inc -9.79%$ -9.791 millions
City Holding Company-10.50%$ -10.498 millions




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