$11.67 Million in Sales Expected for Bank of Commerce Holdings (CA) (BOCH) This Quarter

Brokerages predict that Bank of Commerce Holdings (CA) (NASDAQ:BOCH) will post $11.67 million in sales for the current quarter, according to Zacks. Two analysts have made estimates for Bank of Commerce Holdings (CA)’s earnings, with the highest sales estimate coming in at $11.84 million and the lowest estimate coming in at $11.50 million. Bank of Commerce Holdings (CA) reported sales of $10.24 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 14%. The business is expected to announce its next quarterly earnings results on Friday, October 20th.

According to Zacks, analysts expect that Bank of Commerce Holdings (CA) will report full-year sales of $11.67 million for the current year, with estimates ranging from $45.70 million to $46.30 million. For the next fiscal year, analysts expect that the business will post sales of $50.34 million per share, with estimates ranging from $50.18 million to $50.50 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow Bank of Commerce Holdings (CA).

Bank of Commerce Holdings (CA) (NASDAQ:BOCH) last released its quarterly earnings data on Friday, July 21st. The financial services provider reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.01. Bank of Commerce Holdings (CA) had a net margin of 19.12% and a return on equity of 8.88%. The business had revenue of $11.16 million during the quarter, compared to analyst estimates of $11.23 million.

Several brokerages recently commented on BOCH. Zacks Investment Research upgraded shares of Bank of Commerce Holdings (CA) from a “sell” rating to a “hold” rating in a report on Tuesday, July 11th. DA Davidson began coverage on shares of Bank of Commerce Holdings (CA) in a report on Friday, May 19th. They set a “neutral” rating and a $12.00 target price for the company. Finally, ValuEngine upgraded shares of Bank of Commerce Holdings (CA) from a “hold” rating to a “buy” rating in a report on Friday, June 2nd.

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A number of hedge funds have recently made changes to their positions in BOCH. Nationwide Fund Advisors boosted its stake in shares of Bank of Commerce Holdings (CA) by 512.7% in the second quarter. Nationwide Fund Advisors now owns 10,023 shares of the financial services provider’s stock worth $111,000 after buying an additional 8,387 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Bank of Commerce Holdings (CA) during the second quarter worth approximately $111,000. Bank of New York Mellon Corp boosted its stake in shares of Bank of Commerce Holdings (CA) by 14.2% in the first quarter. Bank of New York Mellon Corp now owns 13,223 shares of the financial services provider’s stock worth $142,000 after buying an additional 1,645 shares in the last quarter. Rhumbline Advisers purchased a new stake in shares of Bank of Commerce Holdings (CA) during the second quarter worth approximately $178,000. Finally, New York State Common Retirement Fund purchased a new stake in shares of Bank of Commerce Holdings (CA) during the second quarter worth approximately $182,000. Hedge funds and other institutional investors own 51.56% of the company’s stock.

Shares of Bank of Commerce Holdings (NASDAQ:BOCH) opened at 10.55 on Friday. The company has a 50 day moving average of $10.45 and a 200 day moving average of $10.76. The firm has a market cap of $171.54 million, a price-to-earnings ratio of 16.03 and a beta of 0.43. Bank of Commerce Holdings has a 1-year low of $6.67 and a 1-year high of $11.90.

Bank of Commerce Holdings (CA) Company Profile

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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