Bank of Commerce (BOCH) Rating Increased 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 released 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. “

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Separately, ValuEngine cut shares of Bank of Commerce from a “hold” rating to a “sell” rating in a research report on Wednesday, December 5th.

NASDAQ:BOCH opened at $11.50 on Tuesday. The stock has a market cap of $180.98 million, a P/E ratio of 13.22, a price-to-earnings-growth ratio of 1.48 and a beta of 0.52. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.88 and a current ratio of 0.88. 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 released its quarterly earnings results on Friday, January 18th. The financial services provider reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.03). The firm had revenue of $13.63 million for the quarter, compared to the consensus estimate of $13.26 million. Bank of Commerce had a return on equity of 10.95% and a net margin of 27.73%. Equities research analysts anticipate that Bank of Commerce will post 1.07 earnings per share for the current year.

In other Bank of Commerce news, Director Lyle L. Tullis bought 5,000 shares of Bank of Commerce stock in a transaction that occurred on Thursday, December 6th. The shares were bought at an average cost of $10.95 per share, with a total value of $54,750.00. Following the transaction, the director now directly owns 275,565 shares of the company’s stock, valued at approximately $3,017,436.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO James A. Sundquist acquired 2,500 shares of the business’s stock in a transaction dated Thursday, December 13th. The stock was purchased at an average cost of $10.70 per share, for a total transaction of $26,750.00. The disclosure for this purchase can be found here. Insiders own 6.41% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. O Shaughnessy Asset Management LLC bought a new position in shares of Bank of Commerce in the fourth quarter worth about $56,000. LPL Financial LLC bought a new position in shares of Bank of Commerce in the third quarter worth about $122,000. Rhumbline Advisers raised its stake in shares of Bank of Commerce by 46.9% in the fourth quarter. Rhumbline Advisers now owns 21,341 shares of the financial services provider’s stock worth $234,000 after acquiring an additional 6,812 shares during the last quarter. JPMorgan Chase & Co. raised its stake 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 acquiring an additional 20,627 shares during the last quarter. Finally, Bessemer Group Inc. raised its stake in shares of Bank of Commerce by 900.0% during the fourth quarter. Bessemer Group Inc. now owns 27,000 shares of the financial services provider’s stock worth $296,000 after buying an additional 24,300 shares during the last quarter. Institutional investors and hedge funds own 55.46% of the company’s stock.

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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