Bank of Commerce Holdings (NASDAQ:BOCH) has earned a consensus broker rating score of 2.50 (Hold) from the two analysts that provide coverage for the company, Zacks Investment Research reports. One analyst has rated the stock with a hold rating and one has issued a buy rating on the company.
Brokers have set a 1 year consensus target price of $12.50 for the company and are forecasting that the company will post $0.26 EPS for the current quarter, according to Zacks. Zacks has also assigned Bank of Commerce an industry rank of 156 out of 255 based on the ratings given to its competitors.
Several brokerages recently commented on BOCH. Zacks Investment Research lowered Bank of Commerce from a “buy” rating to a “hold” rating in a report on Tuesday, December 25th. ValuEngine lowered Bank of Commerce from a “hold” rating to a “sell” rating in a report on Thursday, January 31st.
In related news, CFO James A. Sundquist purchased 2,500 shares of the business’s stock in a transaction on Thursday, December 13th. The stock was acquired at an average price of $10.70 per share, with a total value of $26,750.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lyle L. Tullis purchased 5,000 shares of the business’s stock in a transaction on Thursday, December 6th. The shares were bought at an average cost of $10.95 per share, with a total value of $54,750.00. Following the acquisition, the director now directly owns 275,565 shares of the company’s stock, valued at approximately $3,017,436.75. The disclosure for this purchase can be found here. Insiders own 6.41% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the business. BlackRock Inc. grew its holdings in Bank of Commerce by 10.3% during the fourth quarter. BlackRock Inc. now owns 961,059 shares of the financial services provider’s stock valued at $10,532,000 after purchasing an additional 89,526 shares during the period. Vanguard Group Inc lifted its position in shares of Bank of Commerce by 0.3% in the third quarter. Vanguard Group Inc now owns 709,008 shares of the financial services provider’s stock valued at $8,649,000 after acquiring an additional 1,874 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Bank of Commerce by 15.3% in the third quarter. Dimensional Fund Advisors LP now owns 430,546 shares of the financial services provider’s stock valued at $5,252,000 after acquiring an additional 57,156 shares in the last quarter. First Mercantile Trust Co. lifted its position in shares of Bank of Commerce by 1.0% in the fourth quarter. First Mercantile Trust Co. now owns 193,551 shares of the financial services provider’s stock valued at $2,121,000 after acquiring an additional 1,888 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position in shares of Bank of Commerce by 38.8% in the third quarter. Renaissance Technologies LLC now owns 147,700 shares of the financial services provider’s stock valued at $1,802,000 after acquiring an additional 41,318 shares in the last quarter. 55.46% of the stock is owned by institutional investors and hedge funds.
Shares of BOCH stock traded down $0.03 during mid-day trading on Monday, hitting $11.05. The company’s stock had a trading volume of 7,000 shares, compared to its average volume of 22,407. Bank of Commerce has a 52-week low of $8.40 and a 52-week high of $13.20. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.88 and a quick ratio of 0.88. The stock has a market capitalization of $180.98 million, a P/E ratio of 12.70, a P/E/G ratio of 1.48 and a beta of 0.52.
Bank of Commerce (NASDAQ:BOCH) last posted its quarterly earnings results on Friday, January 18th. The financial services provider reported $0.21 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.24 by ($0.03). Bank of Commerce had a return on equity of 10.95% and a net margin of 27.73%. The business had revenue of $13.63 million during the quarter, compared to analysts’ expectations of $13.26 million. As a group, analysts anticipate that Bank of Commerce will post 1.07 earnings per share for the current year.
Bank of Commerce Company Profile
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. The company's deposit products include checking, interest-bearing checking, money market, and savings accounts, as well as certificates of deposit.
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