ValuEngine Downgrades Bank of Commerce (BOCH) to Buy

Bank of Commerce (NASDAQ:BOCH) was downgraded by research analysts at ValuEngine from a “strong-buy” rating to a “buy” rating in a report issued on Friday.

Separately, Zacks Investment Research upgraded shares of Bank of Commerce from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a report on Tuesday, October 24th.

Bank of Commerce (BOCH) traded up $0.15 during trading hours on Friday, hitting $12.25. 41,200 shares of the stock traded hands, compared to its average volume of 35,777. Bank of Commerce has a one year low of $8.55 and a one year high of $12.40. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.85 and a current ratio of 0.85. The company has a market cap of $199.33, a price-to-earnings ratio of 18.28, a price-to-earnings-growth ratio of 2.55 and a beta of 0.43.

Bank of Commerce (NASDAQ:BOCH) last posted its quarterly earnings data on Friday, October 20th. The financial services provider reported $0.18 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.02. Bank of Commerce had a net margin of 19.58% and a return on equity of 8.66%. The company had revenue of $11.58 million during the quarter, compared to analyst estimates of $11.67 million. equities analysts forecast that Bank of Commerce will post 0.69 earnings per share for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of BOCH. Bank of New York Mellon Corp lifted its position in shares of Bank of Commerce by 14.2% in the first quarter. Bank of New York Mellon Corp now owns 13,223 shares of the financial services provider’s stock worth $142,000 after purchasing an additional 1,645 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Bank of Commerce by 2.4% in the first quarter. Vanguard Group Inc. now owns 666,055 shares of the financial services provider’s stock worth $7,127,000 after purchasing an additional 15,800 shares in the last quarter. Geode Capital Management LLC purchased a new stake in shares of Bank of Commerce in the first quarter worth approximately $1,141,000. Dimensional Fund Advisors LP lifted its position in shares of Bank of Commerce by 12.2% in the first quarter. Dimensional Fund Advisors LP now owns 206,327 shares of the financial services provider’s stock worth $2,208,000 after purchasing an additional 22,369 shares in the last quarter. Finally, Genovese Burford & Brothers Wealth & Retirement Plan Management LLC lifted its position in shares of Bank of Commerce by 8.3% in the second quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 67,465 shares of the financial services provider’s stock worth $745,000 after purchasing an additional 5,168 shares in the last quarter. 52.21% of the stock is owned by institutional investors and hedge funds.

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About Bank of Commerce

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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