National Commerce (NCOM) Upgraded to “Sell” by BidaskClub

BidaskClub upgraded shares of National Commerce (NASDAQ:NCOM) from a strong sell rating to a sell rating in a research report sent to investors on Tuesday morning.

NCOM has been the topic of a number of other reports. Raymond James upgraded shares of National Commerce from a market perform rating to an outperform rating and set a $41.00 target price on the stock in a research report on Thursday, October 25th. Zacks Investment Research downgraded shares of National Commerce from a hold rating to a sell rating in a research report on Saturday, October 27th. ValuEngine downgraded shares of National Commerce from a hold rating to a sell rating in a research report on Thursday, September 27th. Finally, Stephens reaffirmed a hold rating and issued a $48.00 price target on shares of National Commerce in a research note on Thursday, July 26th. Three research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. National Commerce presently has an average rating of Hold and an average target price of $44.50.

National Commerce stock opened at $37.20 on Tuesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.02 and a current ratio of 1.02. National Commerce has a 1 year low of $35.02 and a 1 year high of $48.60. The stock has a market cap of $758.11 million, a price-to-earnings ratio of 18.83 and a beta of 1.02.

National Commerce (NASDAQ:NCOM) last released its earnings results on Wednesday, October 24th. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.09). National Commerce had a net margin of 19.31% and a return on equity of 8.92%. The business had revenue of $44.79 million for the quarter, compared to analyst estimates of $44.05 million. On average, analysts forecast that National Commerce will post 2.56 earnings per share for the current year.

Several hedge funds have recently made changes to their positions in NCOM. Wells Fargo & Company MN increased its stake in shares of National Commerce by 6.9% in the 1st quarter. Wells Fargo & Company MN now owns 54,399 shares of the financial services provider’s stock valued at $2,369,000 after acquiring an additional 3,490 shares during the last quarter. BlackRock Inc. increased its stake in shares of National Commerce by 9.6% in the 1st quarter. BlackRock Inc. now owns 664,618 shares of the financial services provider’s stock valued at $28,944,000 after acquiring an additional 58,436 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of National Commerce by 62.5% in the 1st quarter. JPMorgan Chase & Co. now owns 4,208 shares of the financial services provider’s stock valued at $183,000 after acquiring an additional 1,619 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of National Commerce by 2.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 189,909 shares of the financial services provider’s stock valued at $8,271,000 after acquiring an additional 5,003 shares during the last quarter. Finally, Principal Financial Group Inc. bought a new stake in shares of National Commerce in the 1st quarter valued at about $235,000. 45.29% of the stock is owned by institutional investors.

About National Commerce

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.

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