01:50 PM EDT, 04/26/2024 (MT Newswires) -- Heritage Commerce ( HTBK ) shares fell nearly 4% in recent Friday trading, a day after the company reported lower Q1 results that also missed market consensus.

The company on Thursday reported Q1 earnings of $0.17 per diluted share, down from $0.31 a year earlier.

Analysts surveyed by Capital IQ expected $0.18.

Revenue for the quarter ended March 31, expressed as the sum of net interest income and total noninterest income, was $42.1 million, down from $52 million a year earlier.

Analysts surveyed by Capital IQ expected $43.2 million.

The company maintained quarterly dividend at $0.13 per share, payable on May 23 to shareholders of record on May 9.

Price: 7.89, Change: -0.30, Percent Change: -3.61