Analysts expect National Commerce Corp (NASDAQ:NCOM) to report sales of $48.53 million for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for National Commerce’s earnings, with the highest sales estimate coming in at $48.86 million and the lowest estimate coming in at $48.20 million. National Commerce posted sales of $32.27 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 50.4%. The company is expected to report its next earnings report on Wednesday, January 23rd.
On average, analysts expect that National Commerce will report full year sales of $169.21 million for the current fiscal year, with estimates ranging from $168.80 million to $169.61 million. For the next year, analysts expect that the firm will report sales of $202.49 million, with estimates ranging from $202.30 million to $202.67 million. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for National Commerce.
National Commerce (NASDAQ:NCOM) last issued its earnings results on Wednesday, October 24th. The financial services provider reported $0.59 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.68 by ($0.09). The business had revenue of $44.79 million during the quarter, compared to the consensus estimate of $44.05 million. National Commerce had a return on equity of 8.03% and a net margin of 19.31%.
NCOM has been the subject of several recent research reports. BidaskClub upgraded National Commerce from a “sell” rating to a “hold” rating in a report on Wednesday, November 28th. Stephens restated a “hold” rating and set a $39.00 price objective on shares of National Commerce in a report on Thursday, October 25th. Raymond James downgraded National Commerce from an “outperform” rating to a “market perform” rating and set a $41.00 price objective for the company. in a report on Tuesday, November 27th. Zacks Investment Research downgraded National Commerce from a “buy” rating to a “hold” rating in a report on Tuesday, October 9th. Finally, ValuEngine downgraded National Commerce from a “hold” rating to a “sell” rating in a report on Thursday, September 27th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $44.75.
NASDAQ NCOM opened at $41.34 on Monday. The company has a market cap of $854.79 million, a PE ratio of 20.98 and a beta of 1.10. National Commerce has a 52 week low of $35.02 and a 52 week high of $48.60. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.05.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of National Commerce by 12.6% during the third quarter. Vanguard Group Inc. now owns 715,431 shares of the financial services provider’s stock valued at $29,547,000 after buying an additional 79,814 shares during the last quarter. Morgan Stanley boosted its position in shares of National Commerce by 133.3% during the third quarter. Morgan Stanley now owns 75,008 shares of the financial services provider’s stock valued at $3,096,000 after buying an additional 42,864 shares during the last quarter. Maltese Capital Management LLC boosted its position in shares of National Commerce by 55.4% during the third quarter. Maltese Capital Management LLC now owns 90,000 shares of the financial services provider’s stock valued at $3,717,000 after buying an additional 32,100 shares during the last quarter. Summit Global Investments boosted its position in shares of National Commerce by 15.1% during the third quarter. Summit Global Investments now owns 16,000 shares of the financial services provider’s stock valued at $661,000 after buying an additional 2,100 shares during the last quarter. Finally, MetLife Investment Advisors LLC boosted its position in shares of National Commerce by 65.2% during the third quarter. MetLife Investment Advisors LLC now owns 11,742 shares of the financial services provider’s stock valued at $485,000 after buying an additional 4,633 shares during the last quarter. Hedge funds and other institutional investors own 48.08% of the company’s stock.
About National Commerce
National Commerce Corporation operates as the bank holding company for National Bank of Commerce that provides various financial services to businesses, business owners, and professionals. The company offers deposit products, including interest and noninterest-bearing demand deposits, money market accounts, interest-bearing transaction accounts, savings and time deposits, checking accounts, and certificates of deposit, as well as negotiable orders of withdrawal accounts.
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