Bank of Commerce Holdings (BOCH) Upgraded at Zacks Investment Research
Bank of Commerce Holdings (NASDAQ:BOCH) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Monday.
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. “
Separately, TheStreet upgraded Bank of Commerce Holdings from a “hold” rating to a “buy” rating in a research report on Monday, August 15th.
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Bank of Commerce Holdings (NASDAQ:BOCH) remained flat at $7.21 during midday trading on Monday. The company had a trading volume of 11,243 shares. The company’s 50 day moving average price is $6.99 and its 200 day moving average price is $6.57. The firm has a market capitalization of $96.39 million, a P/E ratio of 20.60 and a beta of 0.63. Bank of Commerce Holdings has a one year low of $5.05 and a one year high of $7.41.
Bank of Commerce Holdings (NASDAQ:BOCH) last announced its quarterly earnings results on Friday, July 22nd. The financial services provider reported $0.11 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by $0.08. Bank of Commerce Holdings had a net margin of 11.76% and a return on equity of 8.59%. On average, analysts expect that Bank of Commerce Holdings will post $0.41 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Tuesday, October 4th will be given a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 1.66%. The ex-dividend date of this dividend is Friday, September 30th. Bank of Commerce Holdings’s dividend payout ratio (DPR) is 34.29%.
In related news, Director Joseph Gibson acquired 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 27th. The shares were bought at an average cost of $6.52 per share, for a total transaction of $32,600.00. Following the completion of the transaction, the director now owns 101,488 shares in the company, valued at $661,701.76. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 7.50% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Spark Investment Management LLC boosted its position in Bank of Commerce Holdings by 26.6% in the first quarter. Spark Investment Management LLC now owns 18,100 shares of the financial services provider’s stock valued at $114,000 after buying an additional 3,800 shares during the period. First Manhattan Co. boosted its position in Bank of Commerce Holdings by 18.2% in the second quarter. First Manhattan Co. now owns 32,500 shares of the financial services provider’s stock valued at $214,000 after buying an additional 5,000 shares during the period. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC boosted its position in Bank of Commerce Holdings by 0.5% in the second quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 61,554 shares of the financial services provider’s stock valued at $406,000 after buying an additional 292 shares during the period. Eagle Global Advisors LLC bought a new position in Bank of Commerce Holdings during the second quarter valued at $415,000. Finally, Context BH Capital Management LP boosted its position in Bank of Commerce Holdings by 12.0% in the second quarter. Context BH Capital Management LP now owns 92,567 shares of the financial services provider’s stock valued at $611,000 after buying an additional 9,914 shares during the period. Institutional investors own 29.40% of the company’s stock.
Bank of Commerce Holdings Company Profile
Bank of Commerce Holdings (Holding Company) is a bank holding company. The Company’s principal business is to serve as a holding company for Redding Bank of Commerce (Bank), which operates under two separate names (Redding Bank of Commerce and Sacramento Bank of Commerce). The Bank operates over four full service facilities in two diverse markets in Northern California.
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