BlackRock Inc. Increases Position in National Commerce Corp (NCOM)

BlackRock Inc. boosted its position in shares of National Commerce Corp (NASDAQ:NCOM) by 30.3% in the second quarter, Holdings Channel reports. The institutional investor owned 866,150 shares of the financial services provider’s stock after acquiring an additional 201,532 shares during the period. BlackRock Inc. owned about 0.05% of National Commerce worth $40,102,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Schwab Charles Investment Management Inc. lifted its stake in shares of National Commerce by 12.6% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 64,386 shares of the financial services provider’s stock valued at $2,982,000 after purchasing an additional 7,182 shares during the last quarter. Maltese Capital Management LLC bought a new stake in shares of National Commerce in the 2nd quarter valued at approximately $2,681,000. Elizabeth Park Capital Advisors Ltd. lifted its stake in shares of National Commerce by 8.6% in the 2nd quarter. Elizabeth Park Capital Advisors Ltd. now owns 362,126 shares of the financial services provider’s stock valued at $16,766,000 after purchasing an additional 28,650 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of National Commerce by 8.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 67,421 shares of the financial services provider’s stock valued at $3,121,000 after purchasing an additional 5,006 shares during the last quarter. Finally, First Trust Advisors LP lifted its stake in shares of National Commerce by 21.4% in the 2nd quarter. First Trust Advisors LP now owns 24,396 shares of the financial services provider’s stock valued at $1,130,000 after purchasing an additional 4,303 shares during the last quarter. 45.42% of the stock is owned by institutional investors.

Several research firms have recently issued reports on NCOM. Zacks Investment Research raised National Commerce from a “hold” rating to a “buy” rating and set a $53.00 price objective for the company in a research note on Wednesday, June 27th. BidaskClub raised National Commerce from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 22nd. Stephens reaffirmed a “hold” rating and issued a $48.00 price objective on shares of National Commerce in a research note on Thursday, July 26th. Finally, ValuEngine lowered National Commerce from a “hold” rating to a “sell” rating in a research note on Thursday, September 27th. Two research analysts have rated the stock with a sell rating and three have given a hold rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $48.67.

NASDAQ:NCOM opened at $39.80 on Thursday. The company has a market capitalization of $851.74 million, a PE ratio of 20.28 and a beta of 1.03. National Commerce Corp has a 1 year low of $35.84 and a 1 year high of $48.60. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.02 and a quick ratio of 1.02.

National Commerce (NASDAQ:NCOM) last posted its quarterly earnings data on Wednesday, July 25th. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.65 by ($0.04). The company had revenue of $38.08 million during the quarter, compared to the consensus estimate of $38.73 million. National Commerce had a net margin of 18.14% and a return on equity of 7.97%. Research analysts expect that National Commerce Corp will post 2.63 EPS for the current fiscal year.

About National Commerce

National Commerce Corporation operates as the bank holding company for National Bank of Commerce that provides various financial services to businesses, business owners, and professionals. The company offers deposit products, including interest and noninterest-bearing demand deposits, money market accounts, interest-bearing transaction accounts, savings and time deposits, checking accounts, and certificates of deposit, as well as negotiable orders of withdrawal accounts.

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Institutional Ownership by Quarter for National Commerce (NASDAQ:NCOM)

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