Bank of Commerce (BOCH) Downgraded by Zacks Investment Research

Bank of Commerce (NASDAQ:BOCH) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Thursday.

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, ValuEngine lowered Bank of Commerce from a “strong-buy” rating to a “buy” rating in a report on Friday, December 1st.

Shares of Bank of Commerce (NASDAQ:BOCH) traded up $0.15 on Thursday, hitting $11.05. The company had a trading volume of 24,201 shares, compared to its average volume of 26,839. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.22. Bank of Commerce has a one year low of $9.54 and a one year high of $12.40. The company has a market capitalization of $179.81, a price-to-earnings ratio of 22.10, a P/E/G ratio of 2.02 and a beta of 0.37.

Bank of Commerce (NASDAQ:BOCH) last issued its quarterly earnings data on Friday, January 19th. The financial services provider reported $0.15 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by ($0.04). Bank of Commerce had a return on equity of 8.42% and a net margin of 14.47%. The firm had revenue of $12.15 million during the quarter, compared to the consensus estimate of $12.18 million. research analysts anticipate that Bank of Commerce will post 0.78 earnings per share for the current fiscal year.

In related news, CFO James A. Sundquist bought 2,500 shares of the stock in a transaction that occurred on Monday, February 5th. The shares were bought at an average cost of $11.25 per share, for a total transaction of $28,125.00. Following the completion of the transaction, the chief financial officer now owns 108,499 shares of the company’s stock, valued at $1,220,613.75. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Lyle L. Tullis bought 4,500 shares of the stock in a transaction that occurred on Monday, January 29th. The shares were bought at an average price of $11.55 per share, for a total transaction of $51,975.00. Following the completion of the transaction, the director now directly owns 255,365 shares of the company’s stock, valued at approximately $2,949,465.75. The disclosure for this purchase can be found here. Insiders have purchased 14,503 shares of company stock worth $166,260 over the last quarter. 6.92% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its position in Bank of Commerce by 1.3% during the fourth quarter. BlackRock Inc. now owns 724,864 shares of the financial services provider’s stock valued at $8,337,000 after purchasing an additional 9,216 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Bank of Commerce by 20.7% during the fourth quarter. Bank of New York Mellon Corp now owns 71,366 shares of the financial services provider’s stock valued at $822,000 after purchasing an additional 12,256 shares in the last quarter. Wells Fargo & Company MN lifted its position in Bank of Commerce by 262.3% during the fourth quarter. Wells Fargo & Company MN now owns 20,924 shares of the financial services provider’s stock valued at $241,000 after purchasing an additional 15,148 shares in the last quarter. Chicago Equity Partners LLC purchased a new position in Bank of Commerce during the fourth quarter valued at $191,000. Finally, Acadian Asset Management LLC lifted its position in Bank of Commerce by 146.0% during the fourth quarter. Acadian Asset Management LLC now owns 24,762 shares of the financial services provider’s stock valued at $285,000 after purchasing an additional 14,696 shares in the last quarter. Institutional investors own 52.25% of the company’s stock.

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Bank of Commerce 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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