Bank of Commerce Holdings (NASDAQ:BOCH) Short Interest Update

Bank of Commerce Holdings (NASDAQ:BOCH) saw a significant growth in short interest in the month of June. As of June 30th, there was short interest totalling 83,500 shares, a growth of 25.6% from the May 30th total of 66,500 shares. Based on an average daily volume of 26,400 shares, the short-interest ratio is presently 3.2 days. Currently, 0.6% of the company’s shares are short sold.

NASDAQ:BOCH traded up $0.03 during trading hours on Friday, hitting $10.60. 21,399 shares of the company’s stock traded hands, compared to its average volume of 27,256. The stock has a market cap of $192.15 million, a price-to-earnings ratio of 11.52, a P/E/G ratio of 1.76 and a beta of 0.58. Bank of Commerce has a twelve month low of $8.40 and a twelve month high of $13.20. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.87 and a current ratio of 0.87. The stock has a fifty day moving average price of $10.52.

Bank of Commerce (NASDAQ:BOCH) last posted its quarterly earnings results on Friday, April 19th. The financial services provider reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.02). The business had revenue of $14.06 million for the quarter, compared to analyst estimates of $14.71 million. Bank of Commerce had a net margin of 25.21% and a return on equity of 10.83%. As a group, research analysts predict that Bank of Commerce will post 0.86 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, July 12th. Investors of record on Tuesday, July 2nd were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.89%. This is a positive change from Bank of Commerce’s previous quarterly dividend of $0.04. The ex-dividend date was Monday, July 1st. Bank of Commerce’s payout ratio is presently 22.99%.

Separately, Zacks Investment Research lowered ExlService from a “hold” rating to a “sell” rating in a research report on Wednesday.

In related news, Director Karl L. Silberstein bought 2,907 shares of the business’s stock in a transaction dated Wednesday, May 1st. The shares were bought at an average cost of $10.70 per share, with a total value of $31,104.90. Following the completion of the transaction, the director now directly owns 9,795 shares of the company’s stock, valued at $104,806.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Joseph Gibson purchased 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The shares were acquired at an average cost of $10.50 per share, for a total transaction of $26,250.00. The disclosure for this purchase can be found here. Insiders have bought 12,613 shares of company stock worth $133,068 over the last ninety days. 5.67% of the stock is owned by insiders.

A number of large investors have recently bought and sold shares of BOCH. Rhumbline Advisers raised its position in Bank of Commerce by 46.9% during the fourth quarter. Rhumbline Advisers now owns 21,341 shares of the financial services provider’s stock valued at $234,000 after buying an additional 6,812 shares during the period. LPL Financial LLC increased its position in Bank of Commerce by 85.0% in the 4th quarter. LPL Financial LLC now owns 18,495 shares of the financial services provider’s stock worth $203,000 after purchasing an additional 8,495 shares during the last quarter. BlackRock Inc. increased its position in Bank of Commerce by 10.3% in the 4th quarter. BlackRock Inc. now owns 961,059 shares of the financial services provider’s stock worth $10,532,000 after purchasing an additional 89,526 shares during the last quarter. Bank of New York Mellon Corp increased its position in Bank of Commerce by 5.0% in the 4th quarter. Bank of New York Mellon Corp now owns 78,553 shares of the financial services provider’s stock worth $861,000 after purchasing an additional 3,740 shares during the last quarter. Finally, Raymond James & Associates increased its position in Bank of Commerce by 0.9% in the 4th quarter. Raymond James & Associates now owns 132,434 shares of the financial services provider’s stock worth $1,451,000 after purchasing an additional 1,190 shares during the last quarter. 48.89% of the stock is currently owned by hedge funds and other institutional investors.

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. Its deposit products include checking, interest-bearing checking, money market, and savings accounts, as well as certificates of deposit.

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