Bank of Commerce (NASDAQ:BOCH) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued 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 reissued a “buy” rating on shares of Bank of Commerce in a research note on Wednesday, September 9th.
NASDAQ:BOCH opened at $6.61 on Monday. The stock’s 50-day moving average is $7.52 and its 200-day moving average is $7.49. Bank of Commerce has a 1-year low of $5.68 and a 1-year high of $12.31. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.18. The stock has a market cap of $110.93 million, a P/E ratio of 8.47 and a beta of 0.69.
Bank of Commerce (NASDAQ:BOCH) last posted its earnings results on Friday, July 17th. The financial services provider reported $0.23 EPS for the quarter, topping the consensus estimate of $0.14 by $0.09. Bank of Commerce had a net margin of 21.79% and a return on equity of 8.73%. The business had revenue of $14.74 million for the quarter, compared to the consensus estimate of $14.50 million. As a group, equities analysts forecast that Bank of Commerce will post 0.76 EPS for the current year.
In other news, CFO James A. Sundquist bought 5,000 shares of the stock in a transaction that occurred on Friday, August 21st. The stock was acquired at an average price of $7.50 per share, with a total value of $37,500.00. Following the completion of the purchase, the chief financial officer now directly owns 15,227 shares of the company’s stock, valued at $114,202.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Terence John Street bought 8,000 shares of the company’s stock in a transaction that occurred on Thursday, July 23rd. The stock was purchased at an average price of $7.89 per share, for a total transaction of $63,120.00. Following 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. Insiders have acquired a total of 13,660 shares of company stock valued at $105,702 in the last three months. Insiders own 5.88% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Citigroup Inc. grew its stake in Bank of Commerce by 45.4% during the first quarter. Citigroup Inc. now owns 5,185 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 1,618 shares during the period. Bailard Inc. acquired a new stake in shares of Bank of Commerce during the 2nd quarter worth approximately $119,000. Jacobs Levy Equity Management Inc. grew its position in shares of Bank of Commerce by 9.4% during the 2nd quarter. Jacobs Levy Equity Management Inc. now owns 24,998 shares of the financial services provider’s stock worth $189,000 after buying an additional 2,142 shares during the period. WINTON GROUP Ltd increased its stake in shares of Bank of Commerce by 12.7% in the 1st 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 in the last quarter. Finally, Marshall Wace LLP lifted its position in shares of Bank of Commerce by 443.1% during the 1st quarter. Marshall Wace LLP now owns 24,639 shares of the financial services provider’s stock valued at $260,000 after acquiring an additional 20,102 shares during the period. Institutional investors own 55.01% of the company’s stock.
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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