Zacks Investment Research downgraded shares of Bank of Commerce (NASDAQ:BOCH) from a buy rating to a hold rating in a research report released on Monday, Zacks.com reports.
According to Zacks, “Bank of Commerce Holdings is a financial service holding company that owns Redding Bank of Commerce, Roseville Bank of Commerce, a division of Redding Bank of Commerce and Bank of Commerce Mortgage, an affiliate of Redding Bank of Commerce and Roseville Bank of Commerce. “
Separately, Raymond James reaffirmed a buy rating on shares of Bank of Commerce in a research report on Wednesday, September 9th.
NASDAQ:BOCH opened at $6.61 on Monday. The business’s 50-day moving average is $7.50 and its two-hundred day moving average is $7.48. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.90 and a quick ratio of 0.90. Bank of Commerce has a 12 month low of $5.68 and a 12 month high of $12.31. The firm has a market capitalization of $110.93 million, a PE ratio of 8.47 and a beta of 0.69.
Bank of Commerce (NASDAQ:BOCH) last released its quarterly earnings data on Friday, July 17th. The financial services provider reported $0.23 EPS for the quarter, beating the consensus estimate of $0.14 by $0.09. Bank of Commerce had a return on equity of 8.73% and a net margin of 21.79%. The company had revenue of $14.74 million for the quarter, compared to analyst estimates of $14.50 million. Equities analysts anticipate that Bank of Commerce will post 0.76 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Tuesday, September 29th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date is Monday, September 28th. Bank of Commerce’s payout ratio is 24.10%.
In other news, CFO James A. Sundquist acquired 5,000 shares of the stock in a transaction that occurred on Friday, August 21st. The stock was purchased at an average cost of $7.50 per share, with a total value of $37,500.00. Following the completion of the acquisition, the chief financial officer now directly owns 15,227 shares in the company, valued at $114,202.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Terence John Street acquired 8,000 shares of the stock in a transaction that occurred on Thursday, July 23rd. The stock was purchased at an average cost of $7.89 per share, with a total value of $63,120.00. Following the completion of the acquisition, the director now owns 30,000 shares of the company’s stock, valued at $236,700. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 13,660 shares of company stock worth $105,702. Corporate insiders own 5.88% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the stock. Citigroup Inc. increased its holdings in Bank of Commerce by 45.4% in the first quarter. Citigroup Inc. now owns 5,185 shares of the financial services provider’s stock valued at $41,000 after buying an additional 1,618 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in Bank of Commerce by 9.4% in the second quarter. Jacobs Levy Equity Management Inc. now owns 24,998 shares of the financial services provider’s stock valued at $189,000 after acquiring an additional 2,142 shares during the period. Bank of New York Mellon Corp boosted its stake in Bank of Commerce by 4.1% in the second quarter. Bank of New York Mellon Corp now owns 79,293 shares of the financial services provider’s stock valued at $601,000 after acquiring an additional 3,097 shares during the period. BHZ Capital Management LP boosted its stake in Bank of Commerce by 0.7% in the second quarter. BHZ Capital Management LP now owns 482,743 shares of the financial services provider’s stock valued at $3,659,000 after acquiring an additional 3,293 shares during the period. Finally, WINTON GROUP Ltd boosted its stake in Bank of Commerce by 12.7% in the first quarter. WINTON GROUP Ltd now owns 32,017 shares of the financial services provider’s stock valued at $252,000 after acquiring an additional 3,614 shares during the period. 55.01% of the stock is owned by hedge funds and other institutional investors.
About Bank of Commerce
Bank of Commerce Holdings operates as the bank holding company for Redding Bank of Commerce that provides a range of financial services and products for retail customers and small to medium-sized businesses in California. Its deposit products include checking, interest-bearing checking, money market, and savings accounts, as well as certificates of deposit.
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