Bank of Commerce (BOCH) Stock Rating Lowered by Zacks Investment Research
Zacks Investment Research lowered shares of Bank of Commerce (NASDAQ:BOCH) from a hold rating to a sell rating in a report published on Wednesday.
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 downgraded shares of 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) last announced its quarterly earnings data on Friday, January 19th. The financial services provider reported $0.15 EPS for the quarter, missing the Zacks’ consensus estimate of $0.19 by ($0.04). The firm had revenue of $12.15 million for the quarter, compared to analysts’ expectations of $12.18 million. Bank of Commerce had a return on equity of 8.42% and a net margin of 14.47%. equities analysts forecast that Bank of Commerce will post 0.78 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, January 12th. Shareholders of record on Tuesday, January 2nd were given a dividend of $0.03 per share. The ex-dividend date was Friday, December 29th. This represents a $0.12 dividend on an annualized basis and a yield of 1.04%. Bank of Commerce’s payout ratio is currently 24.00%.
In other news, Director Lyle L. Tullis acquired 4,500 shares of the business’s stock in a transaction on Monday, January 29th. The stock was bought at an average price of $11.55 per share, for a total transaction of $51,975.00. Following the transaction, the director now owns 255,365 shares in the company, valued at $2,949,465.75. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Joseph Gibson acquired 2,500 shares of the business’s stock in a transaction on Thursday, January 25th. The shares were purchased at an average price of $11.45 per share, with a total value of $28,625.00. Following the transaction, the director now owns 3,500 shares in the company, valued at approximately $40,075. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 7,220 shares of company stock valued at $83,130. 6.92% of the stock is owned by insiders.
A number of institutional investors have recently made changes to their positions in the business. Chicago Equity Partners LLC purchased a new position in Bank of Commerce during the 4th quarter worth $191,000. Acadian Asset Management LLC raised its position in Bank of Commerce by 146.0% during the 4th quarter. Acadian Asset Management LLC now owns 24,762 shares of the financial services provider’s stock worth $285,000 after buying an additional 14,696 shares during the last quarter. D.A. Davidson & CO. purchased a new position in shares of Bank of Commerce in the 3rd quarter valued at about $136,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Bank of Commerce in the 3rd quarter valued at about $122,000. Finally, SG Americas Securities LLC purchased a new position in shares of Bank of Commerce in the 3rd quarter valued at about $109,000. Institutional investors own 52.29% of the company’s stock.
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About Bank of Commerce
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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