Bank of Commerce (NASDAQ:BOCH) was upgraded by TheStreet from a “f” rating to a “b” rating in a research note issued on Wednesday, September 18th, TheStreetRatingsTable reports.
Other research analysts also recently issued research reports about the stock. Zacks Investment Research raised shares of Bank of Commerce from a “sell” rating to a “hold” rating in a research note on Monday, September 16th. Raymond James dropped their target price on shares of Bank of Commerce from $12.00 to $11.50 and set an “outperform” rating for the company in a research report on Thursday, August 29th.
BOCH traded up $0.33 during midday trading on Wednesday, hitting $10.93. 24,780 shares of the company traded hands, compared to its average volume of 32,123. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $199.04 million, a price-to-earnings ratio of 12.56 and a beta of 0.65. Bank of Commerce has a 52-week low of $9.63 and a 52-week high of $12.83. The business has a 50 day simple moving average of $10.51 and a two-hundred day simple moving average of $10.56.
Bank of Commerce (NASDAQ:BOCH) last posted its quarterly earnings data on Friday, July 19th. The financial services provider reported $0.20 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.03). The company had revenue of $14.60 million for the quarter, compared to analysts’ expectations of $15.09 million. Bank of Commerce had a net margin of 24.31% and a return on equity of 10.16%. Equities research analysts anticipate that Bank of Commerce will post 0.93 earnings per share for the current year.
In related news, Director Joseph Gibson purchased 5,000 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was purchased at an average price of $10.15 per share, for a total transaction of $50,750.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO James A. Sundquist purchased 3,000 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was bought at an average price of $9.99 per share, with a total value of $29,970.00. Following the acquisition, 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. In the last three months, insiders have purchased 13,000 shares of company stock valued at $133,150. Corporate insiders own 5.67% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC purchased a new position in Bank of Commerce in the 1st quarter worth approximately $107,000. Panagora Asset Management Inc. boosted its stake in shares of Bank of Commerce by 5.9% during the 2nd quarter. Panagora Asset Management Inc. now owns 145,270 shares of the financial services provider’s stock valued at $1,553,000 after buying an additional 8,154 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in shares of Bank of Commerce during the 2nd quarter valued at approximately $164,000. Acadian Asset Management LLC boosted its stake in shares of Bank of Commerce by 6.7% during 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 last quarter. Finally, DeDora Capital Inc. purchased a new position in shares of Bank of Commerce during the 2nd quarter valued at approximately $174,000. Hedge funds and other institutional investors own 49.56% 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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