Bank of Commerce (BOCH) Downgraded by Zacks Investment Research to “Sell”

Zacks Investment Research downgraded shares of Bank of Commerce (NASDAQ:BOCH) from a hold rating to a sell rating in a report published on Wednesday.

According to Zacks, “Bank of Commerce Holdings is a financial service holding company that owns Redding Bank of Commerce, Roseville Bank of Commerce, a division of Redding Bank of Commerce and Bank of Commerce Mortgage, an affiliate of Redding Bank of Commerce and Roseville Bank of Commerce. “

Separately, ValuEngine cut Bank of Commerce from a strong-buy rating to a buy rating in a research note on Friday, December 1st.

Bank of Commerce (NASDAQ BOCH) opened at $10.85 on Wednesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.85 and a current ratio of 0.85. Bank of Commerce has a 52 week low of $9.54 and a 52 week high of $12.40. The company has a market capitalization of $177.37, a price-to-earnings ratio of 16.77, a price-to-earnings-growth ratio of 2.00 and a beta of 0.37.

Bank of Commerce (NASDAQ:BOCH) last announced its quarterly earnings data on Friday, January 19th. The financial services provider reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.04). The company had revenue of $12.15 million during the quarter, compared to analyst estimates of $12.18 million. Bank of Commerce had a net margin of 14.47% and a return on equity of 8.42%. sell-side analysts predict that Bank of Commerce will post 0.78 EPS for the current fiscal year.

In related news, Director Joseph Gibson acquired 2,500 shares of Bank of Commerce stock in a transaction dated Thursday, January 25th. The shares were acquired at an average cost of $11.45 per share, for a total transaction of $28,625.00. Following the completion of the purchase, the director now owns 3,500 shares in the company, valued at $40,075. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO James A. Sundquist acquired 3,500 shares of Bank of Commerce stock in a transaction dated Friday, February 9th. The stock was bought at an average price of $10.97 per share, for a total transaction of $38,395.00. Following the completion of the purchase, the chief financial officer now owns 110,999 shares of the company’s stock, valued at approximately $1,217,659.03. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 18,003 shares of company stock worth $204,655. Insiders own 6.92% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC acquired a new stake in shares of Bank of Commerce in the third quarter valued at $109,000. GSA Capital Partners LLP acquired a new stake in shares of Bank of Commerce in the second quarter valued at $111,000. Nationwide Fund Advisors raised its stake in shares of Bank of Commerce by 512.7% in the second quarter. Nationwide Fund Advisors now owns 10,023 shares of the financial services provider’s stock valued at $111,000 after acquiring an additional 8,387 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Bank of Commerce in the third quarter valued at $122,000. Finally, D.A. Davidson & CO. acquired a new stake in shares of Bank of Commerce in the third quarter valued at $136,000. Institutional investors and hedge funds own 52.21% of the company’s stock.

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About Bank of Commerce

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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