Bank of Commerce (NASDAQ:BOCH) Lowered to “Sell” at Zacks Investment Research

Bank of Commerce (NASDAQ:BOCH) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors 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. “

Shares of NASDAQ:BOCH traded down $0.06 during trading hours on Tuesday, reaching $10.43. The stock had a trading volume of 8,500 shares, compared to its average volume of 26,696. Bank of Commerce has a 1 year low of $8.40 and a 1 year high of $13.20. The business’s 50 day moving average is $10.54. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.26. The stock has a market cap of $192.14 million, a PE ratio of 11.99, a price-to-earnings-growth ratio of 1.76 and a beta of 0.59.

Bank of Commerce (NASDAQ:BOCH) last posted its quarterly earnings data on Friday, April 19th. The financial services provider reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.02). The company had revenue of $14.06 million during the quarter, compared to analyst estimates of $14.71 million. Bank of Commerce had a return on equity of 10.83% and a net margin of 25.21%. Equities research analysts anticipate that Bank of Commerce will post 0.86 earnings per share for the current fiscal year.

In other Bank of Commerce news, Director David J. Inderkum bought 2,591 shares of Bank of Commerce stock in a transaction dated Thursday, May 30th. The stock was bought at an average cost of $10.30 per share, for a total transaction of $26,687.30. Following the purchase, the director now owns 28,600 shares of the company’s stock, valued at approximately $294,580. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Karl L. Silberstein bought 2,907 shares of Bank of Commerce stock in a transaction dated Wednesday, May 1st. The shares were acquired at an average price of $10.70 per share, with a total value of $31,104.90. Following the completion of the purchase, the director now directly owns 9,795 shares in the company, valued at approximately $104,806.50. The disclosure for this purchase can be found here. Insiders bought a total of 12,613 shares of company stock worth $133,068 in the last quarter. 5.67% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. Rhumbline Advisers raised its stake in shares of Bank of Commerce by 46.9% during the fourth quarter. Rhumbline Advisers now owns 21,341 shares of the financial services provider’s stock valued at $234,000 after purchasing an additional 6,812 shares during the period. LPL Financial LLC raised its holdings in shares of Bank of Commerce by 85.0% during the 4th quarter. LPL Financial LLC now owns 18,495 shares of the financial services provider’s stock worth $203,000 after buying an additional 8,495 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Bank of Commerce by 10.3% during the 4th quarter. BlackRock Inc. now owns 961,059 shares of the financial services provider’s stock worth $10,532,000 after buying an additional 89,526 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Bank of Commerce by 5.0% during the 4th quarter. Bank of New York Mellon Corp now owns 78,553 shares of the financial services provider’s stock worth $861,000 after buying an additional 3,740 shares in the last quarter. Finally, Raymond James & Associates raised its holdings in shares of Bank of Commerce by 0.9% during the 4th quarter. Raymond James & Associates now owns 132,434 shares of the financial services provider’s stock worth $1,451,000 after buying an additional 1,190 shares in the last quarter. Institutional investors own 48.89% of the company’s stock.

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. Its deposit products include checking, interest-bearing checking, money market, and savings accounts, as well as certificates of deposit.

Featured Article: What are the qualifications of a portfolio manager?

Get a free copy of the Zacks research report on Bank of Commerce (BOCH)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Bank of Commerce Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bank of Commerce and related companies with MarketBeat.com's FREE daily email newsletter.