Bank of Commerce (BOCH) Downgraded by Zacks Investment Research to “Sell”

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

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 research report on Friday, December 1st.

Shares of Bank of Commerce (BOCH) traded down $0.05 during trading on Wednesday, hitting $10.85. The stock had a trading volume of 24,081 shares, compared to its average volume of 29,961. Bank of Commerce has a 1 year low of $9.54 and a 1 year high of $12.40. The stock has a market cap of $179.81, a price-to-earnings ratio of 21.70, a PEG ratio of 2.02 and a beta of 0.37. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.22.

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

In other Bank of Commerce news, CFO James A. Sundquist bought 3,500 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was purchased at an average cost of $10.97 per share, with a total value of $38,395.00. Following the transaction, the chief financial officer now directly owns 110,999 shares in the company, valued at approximately $1,217,659.03. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Joseph Gibson purchased 2,500 shares of the business’s stock in a transaction dated Thursday, January 25th. The shares were purchased at an average price of $11.45 per share, with a total value of $28,625.00. Following the purchase, the director now directly owns 3,500 shares in the company, valued at approximately $40,075. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 18,003 shares of company stock valued at $204,655. Insiders own 6.92% of the company’s stock.

Several hedge funds have recently bought and sold shares of BOCH. The Manufacturers Life Insurance Company grew its stake in shares of Bank of Commerce by 472.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 209,521 shares of the financial services provider’s stock worth $2,315,000 after acquiring an additional 172,891 shares during the period. State Street Corp bought a new position in shares of Bank of Commerce during the 2nd quarter worth $1,908,000. Martingale Asset Management L P bought a new position in shares of Bank of Commerce during the 4th quarter worth $687,000. Deutsche Bank AG grew its stake in shares of Bank of Commerce by 178.9% during the 4th quarter. Deutsche Bank AG now owns 76,546 shares of the financial services provider’s stock worth $878,000 after acquiring an additional 49,097 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in shares of Bank of Commerce by 366.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 61,720 shares of the financial services provider’s stock worth $682,000 after acquiring an additional 48,497 shares during the period. Institutional investors own 52.21% 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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