Summit Global Investments acquired a new stake in shares of National Commerce (NASDAQ:NCOM) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 13,200 shares of the financial services provider’s stock, valued at approximately $575,000.
Several other large investors also recently made changes to their positions in NCOM. Bank of New York Mellon Corp grew its stake in shares of National Commerce by 10.3% during the third quarter. Bank of New York Mellon Corp now owns 53,015 shares of the financial services provider’s stock valued at $2,269,000 after buying an additional 4,956 shares during the last quarter. JPMorgan Chase & Co. bought a new stake in shares of National Commerce in the third quarter worth about $162,000. Wells Fargo & Company MN grew its stake in shares of National Commerce by 81.2% in the third quarter. Wells Fargo & Company MN now owns 43,192 shares of the financial services provider’s stock worth $1,848,000 after purchasing an additional 19,360 shares during the last quarter. Schwab Charles Investment Management Inc. grew its stake in shares of National Commerce by 195.4% in the third quarter. Schwab Charles Investment Management Inc. now owns 44,398 shares of the financial services provider’s stock worth $1,901,000 after purchasing an additional 29,366 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of National Commerce by 60.6% in the third quarter. Dimensional Fund Advisors LP now owns 129,580 shares of the financial services provider’s stock worth $5,546,000 after purchasing an additional 48,888 shares during the last quarter. 44.34% of the stock is currently owned by hedge funds and other institutional investors.
NASDAQ NCOM opened at $44.10 on Tuesday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $759.80 million, a P/E ratio of 21.10 and a beta of 1.12. National Commerce has a 1 year low of $36.80 and a 1 year high of $46.60.
National Commerce (NASDAQ:NCOM) last posted its earnings results on Wednesday, April 25th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by ($0.10). The business had revenue of $37.69 million during the quarter, compared to the consensus estimate of $37.66 million. National Commerce had a return on equity of 8.27% and a net margin of 16.53%. analysts anticipate that National Commerce will post 2.73 EPS for the current fiscal year.
Several analysts recently issued reports on the company. BidaskClub raised National Commerce from a “hold” rating to a “buy” rating in a research note on Wednesday, March 7th. Zacks Investment Research cut National Commerce from a “buy” rating to a “hold” rating in a research note on Tuesday, May 1st. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $44.00.
National Commerce Company Profile
National Commerce Corporation operates as the bank holding company for National Bank of Commerce that provides various financial services to businesses, business owners, and professionals. The company offers deposit products, including interest and noninterest-bearing demand deposits, money market accounts, interest-bearing transaction accounts, savings and time deposits, checking accounts, and certificates of deposit, as well as negotiable orders of withdrawal accounts.
Want to see what other hedge funds are holding NCOM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for National Commerce (NASDAQ:NCOM).
Receive News & Ratings for National Commerce Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for National Commerce and related companies with MarketBeat.com's FREE daily email newsletter.