Equities analysts expect Bank of Commerce Holdings (NASDAQ:BOCH) to post $12.18 million in sales for the current fiscal quarter, Zacks reports. Two analysts have issued 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 posted sales of $11.28 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 8%. The firm is scheduled to issue its next earnings report on Thursday, April 19th.
On average, analysts expect that Bank of Commerce will report full year sales of $12.18 million for the current year, with estimates ranging from $50.50 million to $50.57 million. For the next financial year, analysts anticipate that the company will post 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 research firms that that provide coverage for Bank of Commerce.
Bank of Commerce (NASDAQ:BOCH) last announced its quarterly earnings data on Friday, January 19th. The financial services provider reported $0.15 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by ($0.04). The company 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%.
Several research analysts have recently weighed in on BOCH shares. Zacks Investment Research upgraded shares of Bank of Commerce from a “hold” rating to a “buy” rating and set a $13.00 price objective on the stock in a report on Tuesday, January 2nd. ValuEngine lowered shares of Bank of Commerce from a “strong-buy” rating to a “buy” rating in a report on Friday, December 1st.
Shares of Bank of Commerce (BOCH) traded down $0.10 during mid-day trading on Monday, hitting $10.95. The stock has a market cap of $178.17, a P/E ratio of 22.35, a price-to-earnings-growth ratio of 2.01 and a beta of 0.37. Bank of Commerce has a 52-week low of $9.54 and a 52-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.
In other Bank of Commerce news, CFO James A. Sundquist purchased 3,500 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The shares were purchased at an average price of $10.97 per share, for a total transaction of $38,395.00. Following the completion of the acquisition, the chief financial officer now owns 110,999 shares of the company’s stock, valued at approximately $1,217,659.03. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO James A. Sundquist purchased 2,500 shares of the business’s stock in a transaction that occurred on Monday, February 5th. The stock was acquired at an average price of $11.25 per share, for a total transaction of $28,125.00. Following the acquisition, the chief financial officer now directly owns 108,499 shares of the company’s stock, valued at approximately $1,220,613.75. The disclosure for this purchase can be found here. Insiders purchased 18,003 shares of company stock worth $204,655 in the last 90 days. 6.92% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of BOCH. Schwab Charles Investment Management Inc. purchased a new position in Bank of Commerce in the second quarter valued at approximately $302,000. Rhumbline Advisers purchased a new stake in shares of Bank of Commerce during the second quarter valued at approximately $178,000. Bank of New York Mellon Corp raised its stake in shares of Bank of Commerce by 366.8% during the second quarter. Bank of New York Mellon Corp now owns 61,720 shares of the financial services provider’s stock valued at $682,000 after purchasing an additional 48,497 shares during the period. Teachers Advisors LLC purchased a new stake in shares of Bank of Commerce during the second quarter valued at approximately $311,000. Finally, TIAA CREF Investment Management LLC purchased a new stake in shares of Bank of Commerce during the second quarter valued at approximately $471,000. Hedge funds and other institutional investors own 52.22% 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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