JCSD Capital LLC Trims Position in Bank of Commerce Holdings (BOCH)

JCSD Capital LLC lowered its position in shares of Bank of Commerce Holdings (NASDAQ:BOCH) by 2.0% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 269,593 shares of the financial services provider’s stock after selling 5,487 shares during the period. Bank of Commerce comprises about 2.1% of JCSD Capital LLC’s portfolio, making the stock its 18th biggest position. JCSD Capital LLC owned about 1.65% of Bank of Commerce worth $3,289,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of BOCH. Bank of America Corp DE grew its position in Bank of Commerce by 2,671.9% during the 2nd quarter. Bank of America Corp DE now owns 42,632 shares of the financial services provider’s stock worth $544,000 after acquiring an additional 41,094 shares during the last quarter. Acadian Asset Management LLC grew its position in Bank of Commerce by 37.7% during the 2nd quarter. Acadian Asset Management LLC now owns 48,870 shares of the financial services provider’s stock worth $624,000 after acquiring an additional 13,380 shares during the last quarter. Millennium Management LLC grew its position in Bank of Commerce by 155.6% during the 2nd quarter. Millennium Management LLC now owns 77,019 shares of the financial services provider’s stock worth $982,000 after acquiring an additional 46,886 shares during the last quarter. Raymond James & Associates grew its position in Bank of Commerce by 5.0% during the 2nd quarter. Raymond James & Associates now owns 93,346 shares of the financial services provider’s stock worth $1,190,000 after acquiring an additional 4,440 shares during the last quarter. Finally, Renaissance Technologies LLC grew its position in Bank of Commerce by 55.8% during the 2nd quarter. Renaissance Technologies LLC now owns 106,382 shares of the financial services provider’s stock worth $1,356,000 after acquiring an additional 38,102 shares during the last quarter. Institutional investors and hedge funds own 55.93% of the company’s stock.

A number of equities research analysts recently weighed in on the company. Zacks Investment Research upgraded Bank of Commerce from a “hold” rating to a “strong-buy” rating and set a $15.00 price objective on the stock in a research report on Tuesday, July 24th. ValuEngine lowered Bank of Commerce from a “buy” rating to a “hold” rating in a research report on Friday, August 3rd. Finally, DA Davidson reduced their price target on Bank of Commerce from $14.00 to $13.50 and set a “neutral” rating on the stock in a research report on Tuesday, October 9th.

NASDAQ BOCH opened at $11.97 on Wednesday. Bank of Commerce Holdings has a 12 month low of $8.40 and a 12 month high of $13.20. The stock has a market capitalization of $191.08 million, a price-to-earnings ratio of 18.70, a P/E/G ratio of 1.84 and a beta of 0.38. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.92 and a current ratio of 0.92.

Bank of Commerce (NASDAQ:BOCH) last released its quarterly earnings results on Friday, October 19th. The financial services provider reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.03. Bank of Commerce had a return on equity of 10.44% and a net margin of 19.75%. The firm had revenue of $13.07 million for the quarter, compared to analyst estimates of $12.85 million. Equities research analysts expect that Bank of Commerce Holdings will post 0.91 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 12th. Stockholders of record on Tuesday, October 2nd were paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date was Monday, October 1st. Bank of Commerce’s dividend payout ratio is 25.00%.

In other Bank of Commerce news, CFO James A. Sundquist acquired 10,000 shares of the company’s stock in a transaction dated Wednesday, October 24th. The shares were bought at an average cost of $11.49 per share, with a total value of $114,900.00. Following the purchase, the chief financial officer now directly owns 116,999 shares of the company’s stock, valued at $1,344,318.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Joseph Gibson acquired 2,500 shares of the company’s stock in a transaction dated Tuesday, October 23rd. The stock was acquired at an average cost of $11.50 per share, for a total transaction of $28,750.00. The disclosure for this purchase can be found here. Insiders bought a total of 13,500 shares of company stock worth $155,120 over the last three months. 6.41% of the stock is owned by company insiders.

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. The company's deposit products include checking, interest-bearing checking, money market, and savings accounts, as well as certificates of deposit.

Further Reading: Understanding Market Liquidity

Institutional Ownership by Quarter for Bank of Commerce (NASDAQ:BOCH)

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