National Commerce Corp. (NCOM) Downgraded by Zacks Investment Research to Hold
National Commerce Corp. (NASDAQ:NCOM) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Tuesday.
According to Zacks, “National Commerce Corporation is a bank holding company. It offers services which include demand deposits, interest-bearing transaction accounts, money market accounts, savings deposits, certificates of deposit, commercial real estate term loans, residential mortgage loans, construction and land development loans, home equity lines of credit secured by residential property; commercial and industrial loans; consumer loans, factoring, invoicing, collection, accounts receivable management services to transportation companies, automotive parts and service providers. The company operates primarily in Alabama, Huntsville, Auburn-Opelika, Baldwin County and Vero Beach, Florida. National Commerce Corporation is headquartered in Birmingham, Alabama. “
Separately, FIG Partners lowered shares of National Commerce Corp. from an “outperform” rating to a “market perform” rating in a research note on Thursday, September 1st.
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National Commerce Corp. (NASDAQ:NCOM) traded down 0.37% during mid-day trading on Tuesday, reaching $26.87. The company’s stock had a trading volume of 11,567 shares. The company’s 50-day moving average price is $27.15 and its 200 day moving average price is $24.71. National Commerce Corp. has a 52 week low of $20.50 and a 52 week high of $28.74. The firm has a market capitalization of $292.08 million, a price-to-earnings ratio of 20.91 and a beta of 1.04.
National Commerce Corp. (NASDAQ:NCOM) last released its earnings results on Tuesday, July 26th. The financial services provider reported $0.39 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.03. National Commerce Corp. had a net margin of 17.44% and a return on equity of 6.45%. On average, equities analysts forecast that National Commerce Corp. will post $1.53 earnings per share for the current fiscal year.
Hedge funds have recently added to or reduced their stakes in the stock. American International Group Inc. raised its stake in National Commerce Corp. by 37.8% in the second quarter. American International Group Inc. now owns 4,870 shares of the financial services provider’s stock valued at $114,000 after buying an additional 1,335 shares during the last quarter. Nationwide Fund Advisors raised its stake in National Commerce Corp. by 36.6% in the second quarter. Nationwide Fund Advisors now owns 5,417 shares of the financial services provider’s stock valued at $126,000 after buying an additional 1,451 shares during the last quarter. Geode Capital Management LLC raised its stake in National Commerce Corp. by 8.3% in the first quarter. Geode Capital Management LLC now owns 21,748 shares of the financial services provider’s stock valued at $513,000 after buying an additional 1,661 shares during the last quarter. Banc Funds Co. LLC raised its stake in National Commerce Corp. by 2.3% in the second quarter. Banc Funds Co. LLC now owns 132,999 shares of the financial services provider’s stock valued at $3,102,000 after buying an additional 3,000 shares during the last quarter. Finally, Teachers Advisors Inc. raised its stake in National Commerce Corp. by 57.1% in the second quarter. Teachers Advisors Inc. now owns 13,396 shares of the financial services provider’s stock valued at $312,000 after buying an additional 4,868 shares during the last quarter. 36.76% of the stock is currently owned by hedge funds and other institutional investors.
National Commerce Corp. Company Profile
National Commerce Corporation (NCC) is a financial holding company. The Company is engaged in the business of banking through its banking subsidiary, National Bank of Commerce (the Bank). The Company, through the Bank, provides a range of financial services to businesses, business owners and professionals.
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