Bank of New York Mellon Corp boosted its stake in Bank of Commerce Holdings (NASDAQ:BOCH) by 3.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 81,816 shares of the financial services provider’s stock after buying an additional 3,064 shares during the period. Bank of New York Mellon Corp owned approximately 0.45% of Bank of Commerce worth $875,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of BOCH. Municipal Employees Retirement System of Michigan purchased a new stake in Bank of Commerce in the 2nd quarter valued at about $542,000. Marshall Wace LLP raised its holdings in Bank of Commerce by 443.1% in the 1st quarter. Marshall Wace LLP now owns 24,639 shares of the financial services provider’s stock valued at $260,000 after buying an additional 20,102 shares during the period. DeDora Capital Inc. purchased a new stake in Bank of Commerce in the 2nd quarter valued at about $174,000. Wells Fargo & Company MN raised its holdings in Bank of Commerce by 33.0% in the 2nd quarter. Wells Fargo & Company MN now owns 45,432 shares of the financial services provider’s stock valued at $486,000 after buying an additional 11,278 shares during the period. Finally, Acadian Asset Management LLC raised its holdings in Bank of Commerce by 6.7% in the 2nd quarter. Acadian Asset Management LLC now owns 132,640 shares of the financial services provider’s stock valued at $1,419,000 after buying an additional 8,367 shares during the period. Hedge funds and other institutional investors own 49.56% of the company’s stock.
Several analysts recently issued reports on BOCH shares. Raymond James reduced their price objective on shares of Bank of Commerce from $12.00 to $11.50 and set an “outperform” rating on the stock in a report on Thursday, August 29th. ValuEngine upgraded shares of Bank of Commerce from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. TheStreet upgraded shares of Bank of Commerce from a “f” rating to a “b” rating in a report on Wednesday, September 18th. Finally, Zacks Investment Research upgraded shares of Bank of Commerce from a “sell” rating to a “hold” rating in a report on Friday.
NASDAQ BOCH opened at $10.93 on Friday. The company has a market cap of $189.79 million, a P/E ratio of 12.56 and a beta of 0.65. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.86 and a quick ratio of 0.86. The stock has a 50-day moving average of $10.51 and a two-hundred day moving average of $10.56. Bank of Commerce Holdings has a 1-year low of $9.63 and a 1-year high of $12.83.
Bank of Commerce (NASDAQ:BOCH) last released its earnings results on Friday, July 19th. The financial services provider reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.03). The firm had revenue of $14.60 million during the quarter, compared to analyst estimates of $15.09 million. Bank of Commerce had a net margin of 24.31% and a return on equity of 10.16%. On average, analysts anticipate that Bank of Commerce Holdings will post 0.93 EPS for the current fiscal year.
The company also recently announced a — dividend, which was paid on Friday, October 11th. Shareholders of record on Tuesday, October 1st were given a $0.05 dividend. This represents a yield of 1.8%. The ex-dividend date was Monday, September 30th. Bank of Commerce’s dividend payout ratio is currently 22.99%.
In other news, Director Karl L. Silberstein bought 4,000 shares of the company’s stock in a transaction on Tuesday, July 23rd. The stock was bought at an average cost of $10.60 per share, with a total value of $42,400.00. Following the transaction, the director now directly owns 11,795 shares in the company, valued at approximately $125,027. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO James A. Sundquist bought 3,000 shares of the company’s stock in a transaction on Wednesday, August 14th. The stock was purchased at an average cost of $9.99 per share, with a total value of $29,970.00. Following the completion of the transaction, the chief financial officer now owns 15,227 shares in the company, valued at $152,117.73. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 13,000 shares of company stock valued at $133,150. 5.67% of the stock is currently owned by corporate insiders.
Bank of Commerce 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.
Recommended Story: Momentum Indicators
Want to see what other hedge funds are holding BOCH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bank of Commerce Holdings (NASDAQ:BOCH).
Receive News & Ratings for Bank of Commerce Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bank of Commerce and related companies with MarketBeat.com's FREE daily email newsletter.