Bank of Commerce (BOCH) Rating Increased to Strong-Buy at Zacks Investment Research

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Zacks Investment Research upgraded shares of Bank of Commerce (NASDAQ:BOCH) from a hold rating to a strong-buy rating in a research report released on Tuesday, July 24th. Zacks Investment Research currently has $15.00 price objective on the financial services provider’s stock.

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 lowered Bank of Commerce from a buy rating to a hold rating in a report on Monday, June 4th.

Shares of Bank of Commerce stock opened at $12.75 on Tuesday. The firm has a market capitalization of $204.79 million, a PE ratio of 19.92, a price-to-earnings-growth ratio of 1.45 and a beta of 0.37. 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 $10.00 and a 12 month high of $13.20.

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

A number of hedge funds and other institutional investors have recently bought and sold shares of BOCH. Mackay Shields LLC bought a new position in shares of Bank of Commerce in the first quarter worth about $142,000. Wells Fargo & Company MN increased its stake in shares of Bank of Commerce by 262.3% in the fourth quarter. Wells Fargo & Company MN now owns 20,924 shares of the financial services provider’s stock worth $241,000 after purchasing an additional 15,148 shares during the period. Two Sigma Investments LP bought a new position in shares of Bank of Commerce in the fourth quarter worth about $267,000. Renaissance Technologies LLC increased its stake in shares of Bank of Commerce by 179.9% in the fourth quarter. Renaissance Technologies LLC now owns 43,388 shares of the financial services provider’s stock worth $499,000 after purchasing an additional 27,888 shares during the period. Finally, Millennium Management LLC increased its stake in shares of Bank of Commerce by 19.2% in the fourth quarter. Millennium Management LLC now owns 45,072 shares of the financial services provider’s stock worth $518,000 after purchasing an additional 7,261 shares during the period. Institutional investors own 54.10% of the company’s stock.

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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