Bank of Commerce (NASDAQ:BOCH) Upgraded to Hold by Zacks Investment Research

Zacks Investment Research upgraded shares of Bank of Commerce (NASDAQ:BOCH) from a sell rating to a hold rating in a research note released on Wednesday, 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. “

Separately, TheStreet lowered Bank of Commerce from a b rating to a f rating in a research note on Monday, July 22nd.

Shares of BOCH stock traded up $0.14 on Wednesday, reaching $10.08. 502 shares of the company’s stock were exchanged, compared to its average volume of 24,199. Bank of Commerce has a 52 week low of $8.40 and a 52 week high of $13.20. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.12. The company has a market cap of $184.14 million, a PE ratio of 11.59, a PEG ratio of 1.75 and a beta of 0.59. The business has a fifty day moving average of $10.55.

In other news, Director Karl L. Silberstein bought 4,000 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The stock was acquired at an average cost of $10.60 per share, with a total value of $42,400.00. Following the transaction, the director now directly owns 11,795 shares in the company, valued at approximately $125,027. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David J. Inderkum bought 2,591 shares of the firm’s stock in a transaction on Thursday, May 30th. The shares were purchased 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 owns 28,600 shares in the company, valued at $294,580. The disclosure for this purchase can be found here. Insiders have purchased a total of 14,091 shares of company stock valued at $145,712 over the last three months. 5.67% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Morgan Stanley raised its holdings in Bank of Commerce by 2.9% in the 2nd quarter. Morgan Stanley now owns 44,068 shares of the financial services provider’s stock worth $471,000 after purchasing an additional 1,241 shares during the period. Bank of America Corp DE raised its holdings in Bank of Commerce by 1.2% in the 2nd quarter. Bank of America Corp DE now owns 161,068 shares of the financial services provider’s stock worth $1,722,000 after purchasing an additional 1,977 shares during the period. Vanguard Group Inc. raised its holdings in Bank of Commerce by 0.6% in the 2nd quarter. Vanguard Group Inc. now owns 749,463 shares of the financial services provider’s stock worth $8,012,000 after purchasing an additional 4,309 shares during the period. Jacobs Levy Equity Management Inc. acquired a new position in Bank of Commerce in the 2nd quarter worth about $164,000. Finally, BlackRock Inc. raised its holdings in Bank of Commerce by 4.9% in the 2nd quarter. BlackRock Inc. now owns 1,031,438 shares of the financial services provider’s stock worth $11,027,000 after purchasing an additional 48,606 shares during the period. 48.94% of the stock is owned by institutional investors and hedge funds.

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.

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