Zacks: Bank of Commerce Holdings (NASDAQ:BOCH) Receives Average Rating of “Hold” from Brokerages

Shares of Bank of Commerce Holdings (NASDAQ:BOCH) have received a consensus broker rating score of 2.50 (Hold) from the two brokers that cover the stock, Zacks Investment Research reports. One research analyst has rated the stock with a hold recommendation and one has assigned a buy recommendation to the company.

Brokerages have set a one year consensus target price of $12.00 for the company and are forecasting that the company will post $0.23 EPS for the current quarter, according to Zacks. Zacks has also assigned Bank of Commerce an industry rank of 112 out of 255 based on the ratings given to related companies.

BOCH has been the topic of several research reports. ValuEngine upgraded shares of Bank of Commerce from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Zacks Investment Research cut shares of Bank of Commerce from a “hold” rating to a “strong sell” rating in a research report on Wednesday, January 22nd. Finally, Raymond James raised their price objective on shares of Bank of Commerce from $11.50 to $12.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd.

Shares of Bank of Commerce stock traded down $0.06 on Friday, hitting $11.05. 213 shares of the company traded hands, compared to its average volume of 22,277. The firm’s 50-day simple moving average is $11.50 and its 200 day simple moving average is $10.97. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.12. The company has a market cap of $203.35 million, a P/E ratio of 13.28 and a beta of 0.66. Bank of Commerce has a 12-month low of $9.51 and a 12-month high of $12.31.

Bank of Commerce (NASDAQ:BOCH) last posted its quarterly earnings data on Friday, January 17th. The financial services provider reported $0.24 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.26 by ($0.02). The company had revenue of $14.34 million for the quarter, compared to analysts’ expectations of $14.70 million. Bank of Commerce had a net margin of 23.47% and a return on equity of 10.10%. Analysts predict that Bank of Commerce will post 0.93 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Tuesday, December 31st were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.81%. The ex-dividend date was Monday, December 30th. Bank of Commerce’s dividend payout ratio is currently 24.10%.

Several hedge funds have recently added to or reduced their stakes in BOCH. BlackRock Inc. grew its holdings in shares of Bank of Commerce by 4.9% during the 2nd quarter. BlackRock Inc. now owns 1,031,438 shares of the financial services provider’s stock valued at $11,027,000 after purchasing an additional 48,606 shares during the last quarter. Marshall Wace LLP grew its holdings in Bank of Commerce by 443.1% in the 1st quarter. Marshall Wace LLP now owns 24,639 shares of the financial services provider’s stock worth $260,000 after acquiring an additional 20,102 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in Bank of Commerce by 5,263.8% in the 3rd quarter. Russell Investments Group Ltd. now owns 14,214 shares of the financial services provider’s stock worth $155,000 after acquiring an additional 13,949 shares during the last quarter. Wells Fargo & Company MN grew its holdings in Bank of Commerce by 33.0% in the 2nd quarter. Wells Fargo & Company MN now owns 45,432 shares of the financial services provider’s stock worth $486,000 after acquiring an additional 11,278 shares during the last quarter. Finally, JCSD Capital LLC grew its holdings in Bank of Commerce by 3.6% in the 3rd quarter. JCSD Capital LLC now owns 299,652 shares of the financial services provider’s stock worth $3,263,000 after acquiring an additional 10,331 shares during the last quarter. 50.95% of the stock is currently owned by institutional investors.

Bank of Commerce Company Profile

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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