Fenimore Asset Management Inc. grew its position in National Commerce Corp (NASDAQ:NCOM) by 0.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 259,795 shares of the financial services provider’s stock after purchasing an additional 1,210 shares during the quarter. Fenimore Asset Management Inc. owned approximately 1.26% of National Commerce worth $9,353,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Schwab Charles Investment Management Inc. raised its holdings in shares of National Commerce by 12.6% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 64,386 shares of the financial services provider’s stock valued at $2,982,000 after purchasing an additional 7,182 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of National Commerce by 51.5% in the 2nd quarter. Bank of America Corp DE now owns 10,568 shares of the financial services provider’s stock valued at $490,000 after purchasing an additional 3,592 shares in the last quarter. Wells Fargo & Company MN raised its holdings in shares of National Commerce by 9.6% in the 3rd quarter. Wells Fargo & Company MN now owns 83,463 shares of the financial services provider’s stock valued at $3,448,000 after purchasing an additional 7,291 shares in the last quarter. Citadel Advisors LLC acquired a new stake in shares of National Commerce in the 2nd quarter valued at $472,000. Finally, Pinnacle Financial Partners Inc. raised its holdings in shares of National Commerce by 688.9% in the 3rd quarter. Pinnacle Financial Partners Inc. now owns 3,550 shares of the financial services provider’s stock valued at $147,000 after purchasing an additional 3,100 shares in the last quarter. Institutional investors and hedge funds own 50.84% of the company’s stock.
NASDAQ:NCOM traded down $0.26 during midday trading on Friday, hitting $37.44. 460 shares of the company were exchanged, compared to its average volume of 64,817. National Commerce Corp has a fifty-two week low of $33.40 and a fifty-two week high of $48.60. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.02 and a quick ratio of 1.02. The firm has a market capitalization of $789.44 million, a P/E ratio of 18.89 and a beta of 1.19.
A number of equities research analysts have recently weighed in on the stock. BidaskClub upgraded shares of National Commerce from a “hold” rating to a “buy” rating in a report on Friday, January 4th. ValuEngine upgraded shares of National Commerce from a “sell” rating to a “hold” rating in a report on Wednesday, January 2nd. Zacks Investment Research upgraded shares of National Commerce from a “sell” rating to a “hold” rating in a report on Wednesday, December 26th. Raymond James lowered shares of National Commerce from an “outperform” rating to a “market perform” rating and set a $41.00 price target on the stock. in a research note on Tuesday, November 27th. Finally, Keefe, Bruyette & Woods upgraded shares of National Commerce from a “market perform” rating to an “outperform” rating and set a $46.00 price target on the stock in a research note on Thursday, November 8th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. National Commerce currently has an average rating of “Hold” and an average price target of $44.75.
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National Commerce Profile
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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