Bank of Commerce (BOCH) Stock Rating Upgraded by Zacks Investment Research

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Bank of Commerce (NASDAQ:BOCH) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Tuesday.

According to Zacks, “Bank of Commerce Holdings is a financial service holding company that owns Redding Bank of Commerce, Roseville Bank of Commerce, a division of Redding Bank of Commerce and Bank of Commerce Mortgage, an affiliate of Redding Bank of Commerce and Roseville Bank of Commerce. “

Other equities analysts also recently issued reports about the company. DA Davidson lowered their price objective on Bank of Commerce from $14.00 to $13.50 and set a “neutral” rating on the stock in a research report on Tuesday, October 9th. ValuEngine downgraded Bank of Commerce from a “hold” rating to a “sell” rating in a research report on Wednesday, December 5th.

NASDAQ BOCH opened at $10.98 on Tuesday. The firm has a market cap of $179.83 million, a P/E ratio of 12.51, a P/E/G ratio of 1.47 and a beta of 0.54. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.19. Bank of Commerce has a fifty-two week low of $8.40 and a fifty-two week high of $13.20.

Bank of Commerce (NASDAQ:BOCH) last released its 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 net margin of 27.73% and a return on equity of 10.95%. The company had revenue of $13.63 million for the quarter, compared to analysts’ expectations of $13.26 million. On average, equities research analysts anticipate that Bank of Commerce will post 1.07 EPS for the current year.

In other news, CFO James A. Sundquist bought 2,500 shares of Bank of Commerce stock in a transaction dated Thursday, December 13th. The shares were purchased at an average cost 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 available at this hyperlink. Also, Director Lyle L. Tullis bought 5,000 shares of Bank of Commerce stock in a transaction dated Thursday, December 6th. The stock was purchased at an average cost of $10.95 per share, for a total transaction of $54,750.00. Following the completion of 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.

Several hedge funds have recently modified their holdings of BOCH. LPL Financial LLC bought a new stake in shares of Bank of Commerce in the third quarter worth about $122,000. JPMorgan Chase & Co. increased its holdings in shares of Bank of Commerce by 672.5% in the third quarter. JPMorgan Chase & Co. now owns 23,694 shares of the financial services provider’s stock worth $289,000 after purchasing an additional 20,627 shares during the last quarter. Bailard Inc. bought a new stake in shares of Bank of Commerce in the third quarter worth about $310,000. Martingale Asset Management L P increased its holdings in shares of Bank of Commerce by 28.3% in the third quarter. Martingale Asset Management L P now owns 39,015 shares of the financial services provider’s stock worth $476,000 after purchasing an additional 8,605 shares during the last quarter. Finally, Bank of America Corp DE increased its holdings in shares of Bank of Commerce by 2,671.9% in the second quarter. Bank of America Corp DE now owns 42,632 shares of the financial services provider’s stock worth $544,000 after purchasing an additional 41,094 shares during the last quarter. 55.42% 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. 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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