Bank of Commerce (BOCH) Upgraded to “Hold” at Zacks Investment Research

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

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. “

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Separately, ValuEngine downgraded Bank of Commerce from a “hold” rating to a “sell” rating in a research note on Tuesday.

NASDAQ BOCH traded down $0.17 during trading hours on Wednesday, hitting $10.92. The company had a trading volume of 30,500 shares, compared to its average volume of 21,218. Bank of Commerce has a 52 week low of $8.40 and a 52 week high of $13.20. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.19. The company has a market cap of $191.43 million, a P/E ratio of 12.55, a P/E/G ratio of 1.56 and a beta of 0.52.

Bank of Commerce (NASDAQ:BOCH) last issued its earnings results on Friday, January 18th. The financial services provider reported $0.21 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.03). Bank of Commerce had a return on equity of 10.95% and a net margin of 27.73%. The company had revenue of $13.63 million during the quarter, compared to the consensus estimate of $13.26 million. Equities research analysts anticipate that Bank of Commerce will post 1.07 EPS for the current year.

In other Bank of Commerce news, CFO James A. Sundquist purchased 2,500 shares of the stock in a transaction on Thursday, December 13th. The shares were purchased at an average price of $10.70 per share, with a total value of $26,750.00. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Lyle L. Tullis purchased 5,000 shares of the stock in a transaction on Thursday, December 6th. The stock was acquired at an average cost of $10.95 per share, for a total transaction of $54,750.00. Following the acquisition, the director now owns 275,565 shares in the company, valued at $3,017,436.75. The disclosure for this purchase can be found here. Company insiders own 6.41% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Acadian Asset Management LLC raised its holdings in shares of Bank of Commerce by 46.1% during the 3rd quarter. Acadian Asset Management LLC now owns 71,376 shares of the financial services provider’s stock valued at $871,000 after buying an additional 22,506 shares in the last quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC raised its holdings in shares of Bank of Commerce by 1.4% during the 4th quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 72,926 shares of the financial services provider’s stock valued at $799,000 after buying an additional 1,024 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Bank of Commerce by 5.5% during the 3rd quarter. BlackRock Inc. now owns 871,533 shares of the financial services provider’s stock valued at $10,634,000 after buying an additional 45,228 shares in the last quarter. First Mercantile Trust Co. raised its holdings in shares of Bank of Commerce by 1.0% during the 4th quarter. First Mercantile Trust Co. now owns 193,551 shares of the financial services provider’s stock valued at $2,121,000 after buying an additional 1,888 shares in the last quarter. Finally, Bailard Inc. raised its holdings in shares of Bank of Commerce by 8.3% during the 4th quarter. Bailard Inc. now owns 27,500 shares of the financial services provider’s stock valued at $301,000 after buying an additional 2,100 shares in the last quarter. 56.97% of the stock is currently owned by institutional investors.

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. 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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