Bank of Commerce (NASDAQ:BOCH) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of Bank of Commerce (NASDAQ:BOCH) from a hold rating to a sell rating in a research report released on Tuesday, Zacks.com reports.

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. “

BOCH stock opened at $10.64 on Tuesday. Bank of Commerce has a one year low of $8.40 and a one year 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 company has a market capitalization of $190.69 million, a PE ratio of 12.23, a price-to-earnings-growth ratio of 1.75 and a beta of 0.58. The stock’s fifty day moving average is $10.55.

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

The company also recently announced a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Tuesday, July 2nd were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.88%. This is a positive change from Bank of Commerce’s previous quarterly dividend of $0.04. The ex-dividend date of this dividend was Monday, July 1st. Bank of Commerce’s dividend payout ratio is presently 22.99%.

In related news, Director Karl L. Silberstein purchased 2,907 shares of the stock in a transaction that occurred on Wednesday, May 1st. The stock was acquired at an average cost of $10.70 per share, with a total value of $31,104.90. Following the transaction, the director now owns 9,795 shares of the company’s stock, valued at approximately $104,806.50. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David J. Inderkum purchased 2,591 shares of the stock in a transaction that occurred on Thursday, May 30th. The stock was bought at an average cost of $10.30 per share, with a total value of $26,687.30. Following the completion of the transaction, the director now directly owns 28,600 shares in the company, valued at approximately $294,580. 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 hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Arbitrage SA raised its holdings in shares of Bank of Commerce by 539.1% during the 1st quarter. BNP Paribas Arbitrage SA now owns 3,266 shares of the financial services provider’s stock valued at $34,000 after buying an additional 2,755 shares in the last quarter. SG Americas Securities LLC bought a new position in Bank of Commerce during the first quarter valued at approximately $107,000. O Shaughnessy Asset Management LLC boosted its stake in Bank of Commerce by 106.3% during the first quarter. O Shaughnessy Asset Management LLC now owns 10,547 shares of the financial services provider’s stock valued at $111,000 after buying an additional 5,435 shares during the last quarter. Menta Capital LLC bought a new position in Bank of Commerce during the fourth quarter valued at approximately $118,000. Finally, Mackay Shields LLC bought a new position in Bank of Commerce during the fourth quarter valued at approximately $168,000. 48.89% of the stock is owned by institutional investors and hedge funds.

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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