Bank of Commerce Holdings (NASDAQ:BOCH) Sees Large Decline in Short Interest

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Bank of Commerce Holdings (NASDAQ:BOCH) was the target of a significant decrease in short interest in the month of December. As of December 31st, there was short interest totalling 138,200 shares, a decrease of 9.6% from the December 15th total of 152,900 shares. Currently, 0.8% of the company’s stock are sold short. Based on an average trading volume of 21,100 shares, the days-to-cover ratio is currently 6.5 days.

NASDAQ:BOCH opened at $11.26 on Tuesday. The firm has a market capitalization of $203.35 million, a PE ratio of 12.94 and a beta of 0.66. The business’s fifty day moving average price is $11.57 and its 200 day moving average price is $10.92. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.88 and a quick ratio of 0.88. Bank of Commerce has a 12 month low of $9.51 and a 12 month high of $12.31.

Bank of Commerce (NASDAQ:BOCH) last posted its earnings results on Friday, October 18th. The financial services provider reported $0.26 EPS for the quarter, beating the consensus estimate of $0.24 by $0.02. The firm had revenue of $14.73 million for the quarter, compared to analyst estimates of $14.80 million. Bank of Commerce had a return on equity of 9.93% and a net margin of 24.57%. As a group, equities analysts anticipate that Bank of Commerce will post 0.95 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Tuesday, December 31st were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.78%. The ex-dividend date was Monday, December 30th. Bank of Commerce’s dividend payout ratio (DPR) is presently 22.99%.

BOCH has been the topic of a number of recent research reports. Zacks Investment Research lowered Bank of Commerce from a “hold” rating to a “sell” rating in a research report on Friday, October 18th. ValuEngine raised Bank of Commerce from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Raymond James upped their price objective on Bank of Commerce from $11.50 to $12.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. Finally, TheStreet raised Bank of Commerce from a “f” rating to a “b” rating in a research report on Wednesday, September 18th.

A number of large investors have recently bought and sold shares of the stock. Morgan Stanley boosted its stake in Bank of Commerce by 2.9% in the second quarter. Morgan Stanley now owns 44,068 shares of the financial services provider’s stock valued at $471,000 after acquiring an additional 1,241 shares in the last quarter. Bank of America Corp DE boosted its stake in Bank of Commerce by 1.2% in the second quarter. Bank of America Corp DE now owns 161,068 shares of the financial services provider’s stock valued at $1,722,000 after acquiring an additional 1,977 shares in the last quarter. Rhumbline Advisers boosted its stake in Bank of Commerce by 9.7% in the third quarter. Rhumbline Advisers now owns 25,184 shares of the financial services provider’s stock valued at $274,000 after acquiring an additional 2,228 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Bank of Commerce by 3.9% in the second quarter. Bank of New York Mellon Corp now owns 81,816 shares of the financial services provider’s stock valued at $875,000 after acquiring an additional 3,064 shares in the last quarter. Finally, LPL Financial LLC boosted its stake in Bank of Commerce by 17.3% in the second quarter. LPL Financial LLC now owns 21,686 shares of the financial services provider’s stock valued at $232,000 after acquiring an additional 3,191 shares in the last quarter. 50.95% of the stock is currently owned by hedge funds and other institutional investors.

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. Its deposit products include checking, interest-bearing checking, money market, and savings accounts, as well as certificates of deposit.

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