Analysts Anticipate National Commerce Corp (NCOM) Will Post Quarterly Sales of $36.69 Million
Wall Street analysts expect National Commerce Corp (NASDAQ:NCOM) to post sales of $36.69 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for National Commerce’s earnings, with the highest sales estimate coming in at $37.68 million and the lowest estimate coming in at $35.70 million. National Commerce posted sales of $27.87 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 31.6%. The company is scheduled to announce its next earnings report on Monday, April 23rd.
According to Zacks, analysts expect that National Commerce will report full-year sales of $36.69 million for the current financial year, with estimates ranging from $151.70 million to $156.85 million. For the next financial year, analysts anticipate that the company will report sales of $170.91 million per share. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that that provide coverage for National Commerce.
NCOM has been the subject of a number of research analyst reports. Zacks Investment Research upgraded National Commerce from a “hold” rating to a “buy” rating and set a $45.00 target price for the company in a report on Thursday, January 4th. BidaskClub upgraded National Commerce from a “sell” rating to a “hold” rating in a report on Friday, January 26th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $43.00 price objective on shares of National Commerce in a report on Thursday, October 26th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $44.25.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in NCOM. Legal & General Group Plc increased its holdings in shares of National Commerce by 12.0% during the second quarter. Legal & General Group Plc now owns 2,754 shares of the financial services provider’s stock valued at $109,000 after acquiring an additional 296 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of National Commerce during the third quarter valued at approximately $113,000. JPMorgan Chase & Co. bought a new stake in shares of National Commerce during the third quarter valued at approximately $162,000. HighTower Advisors LLC bought a new stake in shares of National Commerce during the second quarter valued at approximately $254,000. Finally, Ameriprise Financial Inc. bought a new stake in shares of National Commerce during the second quarter valued at approximately $255,000. Hedge funds and other institutional investors own 47.83% of the company’s stock.
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About National Commerce
National Commerce Corporation (NCC) is a financial holding company. The Company is engaged in the business of banking through its banking subsidiary, National Bank of Commerce (the Bank). The Company, through the Bank, provides a range of financial services to businesses, business owners and professionals.
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