National Commerce Corporation (NCOM) Upgraded to “Hold” at Zacks Investment Research
Zacks Investment Research upgraded shares of National Commerce Corporation (NASDAQ:NCOM) from a sell rating to a hold rating in a research note released on Friday morning.
According to Zacks, “National Commerce Corporation is a bank holding company. It offers services which include demand deposits, interest-bearing transaction accounts, money market accounts, savings deposits, certificates of deposit, commercial real estate term loans, residential mortgage loans, construction and land development loans, home equity lines of credit secured by residential property; commercial and industrial loans; consumer loans, factoring, invoicing, collection, accounts receivable management services to transportation companies, automotive parts and service providers. The company operates primarily in Alabama, Huntsville, Auburn-Opelika, Baldwin County and Vero Beach, Florida. National Commerce Corporation is headquartered in Birmingham, Alabama. “
Several other research analysts have also weighed in on the stock. ValuEngine upgraded shares of National Commerce Corporation from a hold rating to a buy rating in a research note on Friday, June 2nd. FBR & Co lifted their target price on shares of National Commerce Corporation from $39.00 to $45.00 and gave the stock a market perform rating in a report on Wednesday, April 26th. Stephens reaffirmed a hold rating on shares of National Commerce Corporation in a report on Tuesday, April 25th. Finally, Keefe, Bruyette & Woods reaffirmed a hold rating and set a $38.00 target price on shares of National Commerce Corporation in a report on Friday, May 12th. Seven investment analysts have rated the stock with a hold rating, The stock has an average rating of Hold and an average target price of $38.33.
Shares of National Commerce Corporation (NASDAQ NCOM) opened at 40.10 on Friday. The company has a 50 day moving average of $39.59 and a 200 day moving average of $38.03. National Commerce Corporation has a 1-year low of $24.50 and a 1-year high of $41.25. The company has a market cap of $564.21 million, a PE ratio of 22.35 and a beta of 1.08.
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Hedge funds have recently made changes to their positions in the company. Emerald Mutual Fund Advisers Trust increased its stake in shares of National Commerce Corporation by 19.5% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 459,135 shares of the financial services provider’s stock valued at $18,159,000 after buying an additional 75,000 shares during the last quarter. Bowling Portfolio Management LLC bought a new stake in shares of National Commerce Corporation during the second quarter valued at approximately $449,000. Creative Planning bought a new stake in shares of National Commerce Corporation during the second quarter valued at approximately $288,000. Schwab Charles Investment Management Inc. increased its stake in shares of National Commerce Corporation by 37.5% in the first quarter. Schwab Charles Investment Management Inc. now owns 15,032 shares of the financial services provider’s stock valued at $551,000 after buying an additional 4,100 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake in shares of National Commerce Corporation by 28.3% in the first quarter. Renaissance Technologies LLC now owns 70,200 shares of the financial services provider’s stock valued at $2,569,000 after buying an additional 15,500 shares during the last quarter. 36.90% of the stock is owned by institutional investors and hedge funds.
National Commerce Corporation Company Profile
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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