Zacks Investment Research upgraded shares of Bank of Commerce Holdings (CA) (NASDAQ:BOCH) from a hold rating to a buy rating in a research note published on Tuesday morning. They currently have $12.00 target price on the financial services provider’s stock.

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. “

A number of other research firms have also recently commented on BOCH. DA Davidson assumed coverage on Bank of Commerce Holdings (CA) in a research note on Friday, May 19th. They issued a neutral rating and a $12.00 target price for the company. ValuEngine upgraded Bank of Commerce Holdings (CA) from a hold rating to a buy rating in a research note on Friday, June 2nd.

Bank of Commerce Holdings (NASDAQ:BOCH) traded down 1.42% during midday trading on Tuesday, hitting $10.45. The stock had a trading volume of 33,663 shares. The firm’s 50-day moving average price is $11.01 and its 200 day moving average price is $10.70. The company has a market cap of $156.89 million, a P/E ratio of 15.88 and a beta of 0.45. Bank of Commerce Holdings has a 12 month low of $6.60 and a 12 month high of $11.90.

Bank of Commerce Holdings (CA) (NASDAQ:BOCH) last released its earnings results on Friday, July 21st. The financial services provider reported $0.15 EPS for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.01. The company had revenue of $11.16 million during the quarter, compared to analysts’ expectations of $11.23 million. Bank of Commerce Holdings (CA) had a return on equity of 9.61% and a net margin of 19.12%. On average, analysts expect that Bank of Commerce Holdings will post $0.63 earnings per share for the current fiscal year.

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The company also recently announced a quarterly dividend, which was paid on Monday, July 17th. Stockholders of record on Wednesday, July 5th were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date of this dividend was Friday, June 30th. Bank of Commerce Holdings (CA)’s payout ratio is presently 17.91%.

In related news, CFO James A. Sundquist acquired 12,500 shares of Bank of Commerce Holdings (CA) stock in a transaction that occurred on Wednesday, May 10th. The stock was bought at an average price of $10.50 per share, with a total value of $131,250.00. Following the transaction, the chief financial officer now directly owns 84,238 shares in the company, valued at $884,499. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Robert H. Muttera acquired 5,000 shares of Bank of Commerce Holdings (CA) stock in a transaction that occurred on Wednesday, May 10th. The shares were bought at an average cost of $10.50 per share, with a total value of $52,500.00. Following the transaction, the executive vice president now owns 86,611 shares in the company, valued at $909,415.50. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 28,500 shares of company stock valued at $299,250. 7.50% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of BOCH. Vanguard Group Inc. raised its position in Bank of Commerce Holdings (CA) by 2.4% in the first quarter. Vanguard Group Inc. now owns 666,055 shares of the financial services provider’s stock worth $7,127,000 after buying an additional 15,800 shares during the period. Emerald Mutual Fund Advisers Trust bought a new position in Bank of Commerce Holdings (CA) during the second quarter worth $4,692,000. Pacific Ridge Capital Partners LLC raised its position in Bank of Commerce Holdings (CA) by 1.1% in the first quarter. Pacific Ridge Capital Partners LLC now owns 353,706 shares of the financial services provider’s stock worth $3,785,000 after buying an additional 4,011 shares during the period. Wellington Management Group LLP raised its position in Bank of Commerce Holdings (CA) by 222.9% in the first quarter. Wellington Management Group LLP now owns 333,184 shares of the financial services provider’s stock worth $3,565,000 after buying an additional 229,988 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in Bank of Commerce Holdings (CA) by 12.2% in the first quarter. Dimensional Fund Advisors LP now owns 206,327 shares of the financial services provider’s stock worth $2,208,000 after buying an additional 22,369 shares during the period. 32.19% of the stock is owned by institutional investors.

About Bank of Commerce Holdings (CA)

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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