Equities analysts expect Bank of Commerce Holdings (NASDAQ:BOCH) to report sales of $13.26 million for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Bank of Commerce’s earnings, with the highest sales estimate coming in at $13.31 million and the lowest estimate coming in at $13.20 million. Bank of Commerce reported sales of $12.15 million in the same quarter last year, which would suggest a positive year over year growth rate of 9.1%. The company is expected to report its next earnings report on Friday, January 18th.
On average, analysts expect that Bank of Commerce will report full-year sales of $51.18 million for the current year, with estimates ranging from $51.10 million to $51.25 million. For the next fiscal year, analysts expect that the firm will report sales of $61.53 million, with estimates ranging from $60.76 million to $62.30 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Bank of Commerce.
Bank of Commerce (NASDAQ:BOCH) last issued its earnings results on Friday, October 19th. The financial services provider reported $0.25 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.03. Bank of Commerce had a net margin of 19.75% and a return on equity of 10.44%. The firm had revenue of $13.07 million for the quarter, compared to analysts’ expectations of $12.85 million.
A number of brokerages have issued reports on BOCH. Zacks Investment Research raised shares of Bank of Commerce from a “hold” rating to a “strong-buy” rating and set a $15.00 target price on the stock in a report on Tuesday, July 24th. ValuEngine cut shares of Bank of Commerce from a “buy” rating to a “hold” rating in a report on Friday, August 3rd. Finally, DA Davidson cut their target price on shares of Bank of Commerce from $14.00 to $13.50 and set a “neutral” rating on the stock in a report on Tuesday, October 9th.
In other Bank of Commerce news, Director Joseph Gibson purchased 2,500 shares of the business’s stock in a transaction dated Tuesday, October 23rd. The shares were bought at an average price of $11.50 per share, with a total value of $28,750.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO James A. Sundquist purchased 10,000 shares of the business’s stock in a transaction dated Wednesday, October 24th. The shares were acquired at an average cost of $11.49 per share, for a total transaction of $114,900.00. Following the acquisition, the chief financial officer now owns 116,999 shares of the company’s stock, valued at approximately $1,344,318.51. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 13,500 shares of company stock worth $155,120. Corporate insiders own 6.41% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its holdings in shares of Bank of Commerce by 672.5% during the third quarter. JPMorgan Chase & Co. now owns 23,694 shares of the financial services provider’s stock valued at $289,000 after buying an additional 20,627 shares during the last quarter. Bank of America Corp DE raised its holdings in shares of Bank of Commerce by 2,671.9% during the second quarter. Bank of America Corp DE now owns 42,632 shares of the financial services provider’s stock valued at $544,000 after buying an additional 41,094 shares during the last quarter. Acadian Asset Management LLC raised its holdings in shares of Bank of Commerce by 37.7% during the second quarter. Acadian Asset Management LLC now owns 48,870 shares of the financial services provider’s stock valued at $624,000 after buying an additional 13,380 shares during the last quarter. Millennium Management LLC raised its holdings in shares of Bank of Commerce by 155.6% during the second quarter. Millennium Management LLC now owns 77,019 shares of the financial services provider’s stock valued at $982,000 after buying an additional 46,886 shares during the last quarter. Finally, Raymond James & Associates raised its holdings in shares of Bank of Commerce by 5.0% during the second quarter. Raymond James & Associates now owns 93,346 shares of the financial services provider’s stock valued at $1,190,000 after buying an additional 4,440 shares during the last quarter. 55.83% of the stock is currently owned by institutional investors.
NASDAQ BOCH traded up $0.22 during trading hours on Friday, reaching $12.16. The company’s stock had a trading volume of 1,144 shares, compared to its average volume of 37,175. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.66. Bank of Commerce has a 52 week low of $8.40 and a 52 week high of $13.20. The stock has a market capitalization of $193.04 million, a P/E ratio of 18.95, a P/E/G ratio of 1.86 and a beta of 0.44.
The firm also recently declared a quarterly dividend, which was paid on Friday, October 12th. Stockholders of record on Tuesday, October 2nd were issued a dividend of $0.04 per share. The ex-dividend date was Monday, October 1st. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.32%. Bank of Commerce’s dividend payout ratio (DPR) is presently 25.00%.
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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