Zacks Investment Research Lowers Bank of Commerce (BOCH) to Hold

Zacks Investment Research lowered shares of Bank of Commerce (NASDAQ:BOCH) from a buy rating to a hold rating in a research report report published on Monday morning.

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 cut Bank of Commerce from a strong-buy rating to a buy rating in a research report on Friday, December 1st.

Bank of Commerce (NASDAQ BOCH) opened at $11.60 on Monday. Bank of Commerce has a 12-month low of $8.85 and a 12-month high of $12.40. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.85 and a quick ratio of 0.85. The stock has a market capitalization of $187.94, a PE ratio of 17.31, a price-to-earnings-growth ratio of 2.41 and a beta of 0.42.

Bank of Commerce (NASDAQ:BOCH) last released its earnings results on Friday, October 20th. The financial services provider reported $0.18 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.02. Bank of Commerce had a return on equity of 8.66% and a net margin of 19.58%. The firm had revenue of $11.58 million for the quarter, compared to analysts’ expectations of $11.67 million. equities research analysts forecast that Bank of Commerce will post 0.69 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, January 12th. Stockholders of record on Tuesday, January 2nd will be paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date of this dividend is Friday, December 29th. Bank of Commerce’s payout ratio is 17.91%.

Several hedge funds have recently made changes to their positions in the company. Banc Funds Co. LLC boosted its stake in shares of Bank of Commerce by 16.4% during the second quarter. Banc Funds Co. LLC now owns 1,067,326 shares of the financial services provider’s stock valued at $11,794,000 after purchasing an additional 150,000 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Bank of Commerce by 5.2% during the second quarter. Vanguard Group Inc. now owns 700,908 shares of the financial services provider’s stock valued at $7,745,000 after purchasing an additional 34,853 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Bank of Commerce by 11.4% during the second quarter. Dimensional Fund Advisors LP now owns 229,911 shares of the financial services provider’s stock valued at $2,541,000 after purchasing an additional 23,584 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Bank of Commerce by 472.0% during the second quarter. The Manufacturers Life Insurance Company now owns 209,521 shares of the financial services provider’s stock valued at $2,315,000 after purchasing an additional 172,891 shares in the last quarter. Finally, Foundry Partners LLC boosted its stake in shares of Bank of Commerce by 8.5% during the third quarter. Foundry Partners LLC now owns 177,005 shares of the financial services provider’s stock valued at $2,036,000 after purchasing an additional 13,875 shares in the last quarter. 52.21% of the stock is currently owned by hedge funds and other institutional investors.

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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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