Bank of Commerce Holdings (BOCH) Receives Consensus Rating of “Hold” from Analysts

Bank of Commerce Holdings (NASDAQ:BOCH) has received a consensus broker rating score of 2.50 (Hold) from the two analysts that provide coverage for the company, Zacks Investment Research reports. One analyst has rated the stock with a hold recommendation and one has issued a buy recommendation on the company.

Analysts have set a 1 year consensus target price of $13.25 for the company and are forecasting that the company will post $0.24 EPS for the current quarter, according to Zacks. Zacks has also assigned Bank of Commerce an industry rank of 54 out of 257 based on the ratings given to its competitors.

Several equities research analysts have recently weighed in on the company. ValuEngine lowered Bank of Commerce from a “hold” rating to a “sell” rating in a research note on Wednesday. Zacks Investment Research upgraded Bank of Commerce from a “hold” rating to a “strong-buy” rating and set a $14.00 price objective on the stock in a research note on Wednesday, October 10th. Finally, DA Davidson lowered their price objective on Bank of Commerce from $14.00 to $13.50 and set a “neutral” rating on the stock in a research note on Tuesday, October 9th.

BOCH stock opened at $11.10 on Thursday. Bank of Commerce has a 1-year low of $8.40 and a 1-year high of $13.20. The company has a market capitalization of $181.30 million, a PE ratio of 17.34, a P/E/G ratio of 1.74 and a beta of 0.41. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.88 and a current ratio of 0.88.

Bank of Commerce (NASDAQ:BOCH) last released its quarterly earnings data on Friday, October 19th. The financial services provider reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.03. Bank of Commerce had a return on equity of 10.35% and a net margin of 19.75%. The company had revenue of $13.07 million for the quarter, compared to analyst estimates of $12.85 million. Analysts forecast that Bank of Commerce will post 0.91 earnings per share for the current year.

In other Bank of Commerce news, CFO James A. Sundquist bought 10,000 shares of Bank of Commerce stock in a transaction dated Wednesday, October 24th. The shares were acquired at an average cost of $11.49 per share, with a total value of $114,900.00. Following the acquisition, the chief financial officer now directly owns 116,999 shares of the company’s stock, valued at $1,344,318.51. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Joseph Gibson bought 2,500 shares of Bank of Commerce stock in a transaction dated Tuesday, October 23rd. The stock was acquired at an average cost of $11.50 per share, for a total transaction of $28,750.00. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 13,500 shares of company stock worth $155,120. Corporate insiders own 6.41% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in BOCH. BlackRock Inc. boosted its holdings in shares of Bank of Commerce by 15.2% in the 2nd quarter. BlackRock Inc. now owns 826,305 shares of the financial services provider’s stock worth $10,536,000 after acquiring an additional 109,215 shares in the last quarter. Panagora Asset Management Inc. boosted its holdings in shares of Bank of Commerce by 390.7% in the 3rd quarter. Panagora Asset Management Inc. now owns 76,867 shares of the financial services provider’s stock worth $938,000 after acquiring an additional 61,201 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Bank of Commerce by 15.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 430,546 shares of the financial services provider’s stock worth $5,252,000 after acquiring an additional 57,156 shares in the last quarter. Millennium Management LLC boosted its holdings in shares of Bank of Commerce by 155.6% in the 2nd quarter. Millennium Management LLC now owns 77,019 shares of the financial services provider’s stock worth $982,000 after acquiring an additional 46,886 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in shares of Bank of Commerce by 38.8% in the 3rd quarter. Renaissance Technologies LLC now owns 147,700 shares of the financial services provider’s stock worth $1,802,000 after acquiring an additional 41,318 shares in the last quarter. 55.90% of the stock is currently owned by institutional investors and hedge funds.

About Bank of Commerce

Bank of Commerce Holdings operates as the bank holding company for Redding Bank of Commerce that provides a range of financial services and products for retail customers and small to medium sized businesses in California. The company's deposit products include checking, interest-bearing checking, money market, and savings accounts, as well as certificates of deposit.

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