Analysts Set National Commerce Corp (NCOM) Target Price at $42.00

National Commerce Corp (NASDAQ:NCOM) has been assigned a consensus recommendation of “Hold” from the six brokerages that are currently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $42.00.

Several brokerages have recently issued reports on NCOM. Zacks Investment Research upgraded shares of National Commerce from a “sell” rating to a “hold” rating in a report on Wednesday, November 14th. Keefe, Bruyette & Woods upgraded shares of National Commerce from a “market perform” rating to an “outperform” rating and set a $46.00 target price on the stock in a report on Thursday, November 8th. BidaskClub upgraded shares of National Commerce from a “strong sell” rating to a “sell” rating in a report on Tuesday, October 30th. Stephens restated a “hold” rating and issued a $39.00 target price on shares of National Commerce in a report on Thursday, October 25th. Finally, Raymond James upgraded shares of National Commerce from a “market perform” rating to an “outperform” rating and set a $41.00 target price on the stock in a report on Thursday, October 25th.

Shares of NASDAQ NCOM opened at $37.55 on Monday. National Commerce has a one year low of $35.02 and a one year high of $48.60. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.05. The company has a market cap of $781.37 million, a price-to-earnings ratio of 19.06 and a beta of 1.10.

National Commerce (NASDAQ:NCOM) last issued its earnings results on Wednesday, October 24th. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.68 by ($0.09). National Commerce had a return on equity of 8.03% and a net margin of 19.31%. The firm had revenue of $44.79 million during the quarter, compared to the consensus estimate of $44.05 million. As a group, sell-side analysts predict that National Commerce will post 2.55 EPS for the current fiscal year.

Institutional investors have recently modified their holdings of the company. Pinnacle Financial Partners Inc. grew its holdings in shares of National Commerce by 688.9% in the third quarter. Pinnacle Financial Partners Inc. now owns 3,550 shares of the financial services provider’s stock worth $147,000 after purchasing an additional 3,100 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in National Commerce by 62.5% in the first quarter. JPMorgan Chase & Co. now owns 4,208 shares of the financial services provider’s stock valued at $183,000 after acquiring an additional 1,619 shares in the last quarter. Metropolitan Life Insurance Co. NY boosted its holdings in National Commerce by 32.0% in the second quarter. Metropolitan Life Insurance Co. NY now owns 5,020 shares of the financial services provider’s stock valued at $232,000 after acquiring an additional 1,217 shares in the last quarter. Principal Financial Group Inc. bought a new stake in National Commerce in the first quarter valued at $235,000. Finally, Voya Investment Management LLC bought a new stake in National Commerce in the second quarter valued at $249,000. Hedge funds and other institutional investors own 48.08% of the company’s stock.

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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