Bank of Commerce (BOCH) Releases Earnings Results, Beats Expectations By $0.03 EPS
Bank of Commerce (NASDAQ:BOCH) issued its earnings results on Friday. The financial services provider reported $0.22 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.03, MarketWatch Earnings reports. Bank of Commerce had a return on equity of 8.51% and a net margin of 16.06%. The business had revenue of $12.54 million during the quarter, compared to analysts’ expectations of $12.46 million.
Shares of NASDAQ:BOCH opened at $12.25 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.88 and a quick ratio of 0.88. Bank of Commerce has a 1 year low of $9.90 and a 1 year high of $12.95. The stock has a market cap of $200.58 million, a PE ratio of 19.14, a PEG ratio of 2.21 and a beta of 0.41.
The company also recently announced a quarterly dividend, which was paid on Friday, July 13th. Stockholders of record on Tuesday, July 3rd were issued a dividend of $0.04 per share. The ex-dividend date of this dividend was Monday, July 2nd. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.31%. This is a boost from Bank of Commerce’s previous quarterly dividend of $0.03. Bank of Commerce’s payout ratio is presently 25.00%.
In related news, Director Lyle L. Tullis purchased 4,250 shares of the firm’s stock in a transaction on Wednesday, May 2nd. The stock was purchased at an average price of $11.32 per share, for a total transaction of $48,110.00. Following the acquisition, the director now directly owns 255,365 shares in the company, valued at $2,890,731.80. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 6.41% of the stock is currently 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. The company's deposit products include checking, interest-bearing checking, money market, and savings accounts, as well as certificates of deposit.
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