Bank of Commerce Holdings (NASDAQ:BOCH) Plans Quarterly Dividend of $0.05

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Bank of Commerce Holdings (NASDAQ:BOCH) declared a quarterly dividend on Wednesday, September 16th, Zacks reports. Stockholders of record on Tuesday, September 29th will be given a dividend of 0.05 per share by the financial services provider on Friday, October 9th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.95%. The ex-dividend date is Monday, September 28th.

Bank of Commerce has raised its dividend payment by 58.3% over the last three years and has increased its dividend every year for the last 2 years. Bank of Commerce has a payout ratio of 26.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Bank of Commerce to earn $0.58 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 34.5%.

NASDAQ:BOCH opened at $6.77 on Friday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.18. Bank of Commerce has a fifty-two week low of $5.68 and a fifty-two week high of $12.31. The stock has a market cap of $113.61 million, a PE ratio of 8.68 and a beta of 0.69. The firm’s fifty day simple moving average is $7.46 and its 200-day simple moving average is $7.44.

Bank of Commerce (NASDAQ:BOCH) last posted its quarterly earnings results on Friday, July 17th. The financial services provider reported $0.23 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.09. Bank of Commerce had a net margin of 21.79% and a return on equity of 8.73%. The business had revenue of $14.74 million for the quarter, compared to analysts’ expectations of $14.50 million. Equities analysts anticipate that Bank of Commerce will post 0.76 earnings per share for the current year.

A number of equities research analysts recently commented on the stock. Raymond James reissued a “buy” rating on shares of Bank of Commerce in a research note on Wednesday, September 9th. Zacks Investment Research cut shares of Bank of Commerce from a “buy” rating to a “hold” rating in a research note on Monday, September 21st.

In other news, CFO James A. Sundquist bought 5,000 shares of Bank of Commerce stock in a transaction on Friday, August 21st. The shares were bought at an average cost of $7.50 per share, for a total transaction of $37,500.00. Following the acquisition, the chief financial officer now owns 15,227 shares in the company, valued at $114,202.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Terence John Street bought 8,000 shares of Bank of Commerce stock in a transaction on Thursday, July 23rd. The stock was purchased at an average price of $7.89 per share, for a total transaction of $63,120.00. Following the completion of the acquisition, the director now owns 30,000 shares in the company, valued at approximately $236,700. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 13,660 shares of company stock worth $105,702. 5.88% of the stock is owned by insiders.

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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Dividend History for Bank of Commerce (NASDAQ:BOCH)

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