Shares of Bank of Commerce Holdings (CA) (NASDAQ:BOCH) have been assigned an average broker rating score of 2.50 (Hold) from the two analysts that cover the company, Zacks Investment Research reports. One analyst has rated the stock with a hold recommendation and one has assigned a buy recommendation to the company.
Brokers have set a 1-year consensus price objective of $12.75 for the company and are forecasting that the company will post $0.19 EPS for the current quarter, according to Zacks. Zacks has also given Bank of Commerce an industry rank of 86 out of 265 based on the ratings given to its competitors.
Separately, Zacks Investment Research upgraded Bank of Commerce from a “hold” rating to a “buy” rating and set a $13.00 price target for the company in a report on Thursday, April 26th.
In other news, EVP Robert H. Muttera purchased 4,780 shares of the company’s stock in a transaction that occurred on Monday, February 5th. The shares were acquired at an average cost of $11.50 per share, with a total value of $54,970.00. Following the transaction, the executive vice president now owns 90,156 shares in the company, valued at approximately $1,036,794. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO James A. Sundquist purchased 2,500 shares of the company’s stock in a transaction that occurred on Monday, February 5th. The shares were purchased at an average cost of $11.25 per share, for a total transaction of $28,125.00. Following the completion of the transaction, the chief financial officer now owns 108,499 shares in the company, valued at approximately $1,220,613.75. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 10,780 shares of company stock valued at $121,490. Company insiders own 6.41% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC acquired a new stake in Bank of Commerce in the third quarter worth $109,000. Chicago Equity Partners LLC acquired a new position in shares of Bank of Commerce during the fourth quarter valued at $191,000. Wells Fargo & Company MN increased its holdings in shares of Bank of Commerce by 262.3% during the fourth quarter. Wells Fargo & Company MN now owns 20,924 shares of the financial services provider’s stock valued at $241,000 after purchasing an additional 15,148 shares during the period. Two Sigma Investments LP acquired a new position in shares of Bank of Commerce during the fourth quarter valued at $267,000. Finally, Acadian Asset Management LLC increased its holdings in shares of Bank of Commerce by 146.0% during the fourth quarter. Acadian Asset Management LLC now owns 24,762 shares of the financial services provider’s stock valued at $285,000 after purchasing an additional 14,696 shares during the period. 53.28% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ BOCH traded down $0.15 on Monday, reaching $11.30. The company had a trading volume of 2,732 shares, compared to its average volume of 27,100. The stock has a market cap of $184.34, a PE ratio of 16.69, a P/E/G ratio of 2.03 and a beta of 0.39. Bank of Commerce has a 1 year low of $9.90 and a 1 year high of $12.40. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.21.
The firm also recently announced a quarterly dividend, which was paid on Friday, April 13th. Stockholders of record on Tuesday, April 3rd were paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 1.06%. The ex-dividend date was Monday, April 2nd. Bank of Commerce’s dividend payout ratio (DPR) is currently 18.75%.
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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