Bank of Commerce (BOCH) Rating Lowered to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of Bank of Commerce (NASDAQ:BOCH) from a strong-buy rating to a hold rating in a research report report published on Monday.

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. “

Separately, ValuEngine upgraded shares of Bank of Commerce from a hold rating to a buy rating in a research report on Friday, June 29th.

Shares of Bank of Commerce stock opened at $12.45 on Monday. The stock has a market cap of $206.42 million, a P/E ratio of 16.87, a PEG ratio of 1.46 and a beta of 0.39. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.66. Bank of Commerce has a 12-month low of $10.10 and a 12-month high of $13.20.

Bank of Commerce (NASDAQ:BOCH) last announced its earnings results on Friday, July 20th. The financial services provider reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.03. The business had revenue of $12.54 million during the quarter, compared to analysts’ expectations of $12.46 million. Bank of Commerce had a net margin of 18.19% and a return on equity of 9.54%. equities research analysts forecast that Bank of Commerce will post 0.87 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 12th. Shareholders of record on Tuesday, October 2nd will be issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date is Monday, October 1st. Bank of Commerce’s dividend payout ratio is currently 25.00%.

A number of large investors have recently modified their holdings of BOCH. Mackay Shields LLC bought a new stake in Bank of Commerce during the 1st quarter worth about $142,000. Bank of America Corp DE grew its holdings 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 holdings 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. Maltese Capital Management LLC bought a new stake in Bank of Commerce during the 1st quarter worth about $932,000. Finally, Millennium Management LLC grew its holdings 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. 55.96% 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. The company's deposit products include checking, interest-bearing checking, money market, and savings accounts, as well as certificates of deposit.

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