Equities analysts expect that Bank of Commerce Holdings (NASDAQ:BOCH) will announce $12.18 million in sales for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Bank of Commerce’s earnings, with the highest sales estimate coming in at $12.25 million and the lowest estimate coming in at $12.10 million. Bank of Commerce reported sales of $11.28 million during the same quarter last year, which indicates a positive year over year growth rate of 8%. The firm is expected to report its next quarterly earnings report on Thursday, April 19th.
According to Zacks, analysts expect that Bank of Commerce will report full-year sales of $12.18 million for the current fiscal year, with estimates ranging from $50.50 million to $50.57 million. For the next fiscal year, analysts expect that the firm will report sales of $54.82 million per share, with estimates ranging from $54.44 million to $55.20 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Bank of Commerce.
Bank of Commerce (NASDAQ:BOCH) last issued its earnings results on Friday, January 19th. The financial services provider reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.04). The business 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%.
BOCH has been the subject of a number of analyst reports. Zacks Investment Research raised Bank of Commerce from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a research note on Tuesday, October 24th. ValuEngine downgraded Bank of Commerce from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 1st.
Shares of Bank of Commerce (NASDAQ:BOCH) traded up $0.10 during mid-day trading on Friday, hitting $11.70. The stock had a trading volume of 17,144 shares, compared to its average volume of 31,002. The stock has a market cap of $190.38, a P/E ratio of 23.40, a price-to-earnings-growth ratio of 2.14 and a beta of 0.43. Bank of Commerce has a fifty-two week low of $9.54 and a fifty-two week high of $12.40. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.22.
The firm also recently announced a quarterly dividend, which was paid on Friday, January 12th. Stockholders of record on Tuesday, January 2nd were paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date was Friday, December 29th. Bank of Commerce’s dividend payout ratio (DPR) is 24.00%.
In other news, Director Joseph Gibson purchased 2,500 shares of the stock in a transaction that occurred on Thursday, January 25th. The shares were acquired at an average price of $11.45 per share, for a total transaction of $28,625.00. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Lyle L. Tullis purchased 4,500 shares of the stock in a transaction that occurred on Monday, January 29th. The stock was purchased at an average price of $11.55 per share, for a total transaction of $51,975.00. Following the acquisition, the director now owns 255,365 shares in the company, valued at $2,949,465.75. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 7,220 shares of company stock valued at $83,130. Company insiders own 6.92% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in shares of Bank of Commerce by 5.2% in the 2nd quarter. Vanguard Group Inc. now owns 700,908 shares of the financial services provider’s stock worth $7,745,000 after acquiring an additional 34,853 shares during the period. Schwab Charles Investment Management Inc. acquired a new stake in shares of Bank of Commerce in the 2nd quarter worth approximately $302,000. The Manufacturers Life Insurance Company grew its holdings in shares of Bank of Commerce by 472.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 209,521 shares of the financial services provider’s stock worth $2,315,000 after acquiring an additional 172,891 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Bank of Commerce by 366.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 61,720 shares of the financial services provider’s stock worth $682,000 after acquiring an additional 48,497 shares during the period. Finally, TIAA CREF Investment Management LLC acquired a new stake in shares of Bank of Commerce in the 2nd quarter worth approximately $471,000. Institutional investors and hedge funds 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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