Bank of Commerce (NASDAQ:BOCH) issued its quarterly earnings results on Friday. The financial services provider reported $0.26 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.03, MarketWatch Earnings reports. Bank of Commerce had a net margin of 21.79% and a return on equity of 8.73%.
Shares of BOCH traded up $0.14 during mid-day trading on Friday, reaching $8.13. 34,377 shares of the stock traded hands, compared to its average volume of 47,866. The firm has a fifty day moving average price of $7.26 and a 200 day moving average price of $7.38. The company has a market cap of $136.44 million, a price-to-earnings ratio of 10.42 and a beta of 0.70. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.18. Bank of Commerce has a 1 year low of $5.68 and a 1 year high of $12.31.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 9th. Investors of record on Tuesday, September 29th were paid a $0.05 dividend. The ex-dividend date of this dividend was Monday, September 28th. This represents a $0.20 dividend on an annualized basis and a yield of 2.46%. Bank of Commerce’s dividend payout ratio is 24.10%.
In other news, Director Terence John Street purchased 8,000 shares of Bank of Commerce stock in a transaction dated Thursday, July 23rd. The stock was purchased at an average cost of $7.89 per share, for a total transaction of $63,120.00. Following the transaction, the director now directly owns 30,000 shares of the company’s stock, valued at $236,700. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO James A. Sundquist purchased 5,000 shares of Bank of Commerce stock in a transaction dated Friday, August 21st. The shares were purchased at an average price of $7.50 per share, with a total value of $37,500.00. Following the completion of the transaction, the chief financial officer now directly owns 15,227 shares in the company, valued at $114,202.50. The disclosure for this purchase can be found here. Insiders have bought a total of 13,660 shares of company stock valued at $105,702 over the last 90 days. Company insiders own 5.88% of the company’s stock.
BOCH has been the subject of a number of recent research reports. Zacks Investment Research lowered shares of Bank of Commerce from a “buy” rating to a “hold” rating in a research note on Monday, September 21st. Raymond James reiterated a “buy” rating on shares of Bank of Commerce in a research note on Wednesday, September 9th.
About Bank of Commerce
Bank of Commerce Holdings operates as the bank holding company for Redding Bank of Commerce that provides a range of financial services and products for retail customers and small to medium-sized businesses in California. Its deposit products include checking, interest-bearing checking, money market, and savings accounts, as well as certificates of deposit.
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