Bank of Commerce Holdings (NASDAQ:BOCH) has received an average broker rating score of 2.50 (Hold) from the two brokers that provide coverage for the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold rating and one has given a buy rating to the company.
Brokers have set a 12-month consensus price objective of $11.75 for the company and are predicting that the company will post $0.23 EPS for the current quarter, according to Zacks. Zacks has also given Bank of Commerce an industry rank of 235 out of 256 based on the ratings given to its competitors.
Separately, Zacks Investment Research upgraded shares of Golub Capital BDC from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a research report on Tuesday.
Shares of BOCH traded up $0.02 during trading hours on Friday, reaching $10.51. The stock had a trading volume of 6 shares, compared to its average volume of 26,709. The company’s 50-day moving average is $10.54. The company has a market cap of $189.06 million, a P/E ratio of 12.06, a P/E/G ratio of 1.73 and a beta of 0.58. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.26. Bank of Commerce has a 52 week low of $8.40 and a 52 week high of $13.20.
Bank of Commerce (NASDAQ:BOCH) last announced its quarterly earnings data on Friday, April 19th. The financial services provider reported $0.24 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.26 by ($0.02). Bank of Commerce had a net margin of 25.21% and a return on equity of 10.83%. The company had revenue of $14.06 million during the quarter, compared to the consensus estimate of $14.71 million. Equities analysts forecast that Bank of Commerce will post 0.86 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Tuesday, July 2nd were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, July 1st. This represents a $0.20 annualized dividend and a dividend yield of 1.90%. This is a positive change from Bank of Commerce’s previous quarterly dividend of $0.04. Bank of Commerce’s dividend payout ratio is currently 22.99%.
In related news, CFO James A. Sundquist acquired 2,500 shares of the stock in a transaction dated Wednesday, May 29th. The shares were purchased at an average price of $10.35 per share, for a total transaction of $25,875.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Karl L. Silberstein acquired 2,907 shares of the stock in a transaction dated Wednesday, May 1st. The shares were bought at an average price of $10.70 per share, for a total transaction of $31,104.90. Following the transaction, the director now owns 9,795 shares in the company, valued at approximately $104,806.50. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 12,613 shares of company stock valued at $133,068. 5.67% of the stock is currently owned by insiders.
Institutional investors have recently made changes to their positions in the business. Raymond James & Associates lifted its holdings in Bank of Commerce by 0.9% in the 4th quarter. Raymond James & Associates now owns 132,434 shares of the financial services provider’s stock valued at $1,451,000 after purchasing an additional 1,190 shares in the last quarter. BNP Paribas Arbitrage SA lifted its holdings in shares of Bank of Commerce by 539.1% in the 1st quarter. BNP Paribas Arbitrage SA now owns 3,266 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 2,755 shares during the last quarter. Menta Capital LLC lifted its holdings in shares of Bank of Commerce by 30.4% in the 1st quarter. Menta Capital LLC now owns 14,055 shares of the financial services provider’s stock worth $148,000 after purchasing an additional 3,276 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Bank of Commerce by 5.0% in the 4th quarter. Bank of New York Mellon Corp now owns 78,553 shares of the financial services provider’s stock worth $861,000 after purchasing an additional 3,740 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC raised its stake in Bank of Commerce by 106.3% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 10,547 shares of the financial services provider’s stock valued at $111,000 after acquiring an additional 5,435 shares in the last quarter. 48.89% of the stock is currently owned by institutional investors and hedge funds.
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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