National Commerce Corp (NCOM) Expected to Announce Quarterly Sales of $36.69 Million

Equities analysts expect National Commerce Corp (NASDAQ:NCOM) to report sales of $36.69 million for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for National Commerce’s earnings, with the highest sales estimate coming in at $37.68 million and the lowest estimate coming in at $35.70 million. National Commerce reported sales of $27.87 million in the same quarter last year, which would indicate a positive year over year growth rate of 31.6%. The company is expected to report its next earnings results on Monday, April 23rd.

On average, analysts expect that National Commerce will report full year sales of $36.69 million for the current fiscal year, with estimates ranging from $151.70 million to $156.85 million. For the next fiscal year, analysts forecast that the company will post sales of $170.91 million per share. Zacks’ sales averages are a mean average based on a survey of research analysts that cover National Commerce.

A number of analysts have commented on NCOM shares. BidaskClub upgraded shares of National Commerce from a “sell” rating to a “hold” rating in a research note on Friday, January 26th. Keefe, Bruyette & Woods restated a “hold” rating and set a $45.00 price target on shares of National Commerce in a research note on Friday, December 22nd. Finally, Zacks Investment Research raised shares of National Commerce from a “hold” rating to a “buy” rating and set a $46.00 price objective on the stock in a report on Thursday, January 11th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $44.25.

Shares of National Commerce (NASDAQ:NCOM) opened at $45.35 on Thursday. The company has a market cap of $672.14, a price-to-earnings ratio of 31.11 and a beta of 1.02. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.04 and a current ratio of 1.04. National Commerce has a one year low of $35.00 and a one year high of $46.00.

A number of institutional investors and hedge funds have recently bought and sold shares of NCOM. Legal & General Group Plc boosted its holdings in National Commerce by 12.0% during the 2nd quarter. Legal & General Group Plc now owns 2,754 shares of the financial services provider’s stock worth $109,000 after acquiring an additional 296 shares during the last quarter. SG Americas Securities LLC purchased a new position in National Commerce during the 3rd quarter worth $113,000. JPMorgan Chase & Co. purchased a new position in National Commerce during the 3rd quarter worth $162,000. HighTower Advisors LLC purchased a new position in shares of National Commerce in the 2nd quarter worth about $254,000. Finally, Ameriprise Financial Inc. purchased a new position in shares of National Commerce in the 2nd quarter worth about $255,000. 47.83% of the stock is currently owned by hedge funds and other institutional investors.

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About National Commerce

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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