Bank of Commerce Holdings (BOCH) Given $13.25 Average Price Target by Analysts

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Bank of Commerce Holdings (NASDAQ:BOCH) has earned an average broker rating score of 2.50 (Hold) from the two brokers that provide coverage for the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a hold rating and one has given a buy rating to the company.

Analysts have set a 1 year consensus price target of $13.25 for the company and are predicting that the company will post $0.24 EPS for the current quarter, according to Zacks. Zacks has also assigned Bank of Commerce an industry rank of 62 out of 257 based on the ratings given to its competitors.

BOCH has been the topic of a number of research analyst reports. Zacks Investment Research upgraded Bank of Commerce from a “hold” rating to a “strong-buy” rating and set a $15.00 price target on the stock in a research note on Tuesday, July 24th. ValuEngine downgraded Bank of Commerce from a “buy” rating to a “hold” rating in a report on Friday, August 3rd. Finally, DA Davidson decreased their target price on Bank of Commerce from $14.00 to $13.50 and set a “neutral” rating for the company in a report on Tuesday, October 9th.

In other news, Director Joseph Gibson bought 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, October 23rd. The stock was purchased at an average price of $11.50 per share, with a total value of $28,750.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO James A. Sundquist bought 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 24th. The shares were purchased at an average cost of $11.49 per share, with a total value of $114,900.00. Following the acquisition, the chief financial officer now directly owns 116,999 shares of the company’s stock, valued at $1,344,318.51. The disclosure for this purchase can be found here. Insiders have purchased 13,500 shares of company stock valued at $155,120 in the last ninety days. Corporate insiders own 6.41% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. Raymond James & Associates lifted its holdings in Bank of Commerce by 5.0% in the second quarter. Raymond James & Associates now owns 93,346 shares of the financial services provider’s stock valued at $1,190,000 after acquiring an additional 4,440 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in Bank of Commerce by 2.1% in the first quarter. The Manufacturers Life Insurance Company now owns 213,868 shares of the financial services provider’s stock valued at $2,492,000 after acquiring an additional 4,476 shares during the period. Martingale Asset Management L P lifted its holdings in Bank of Commerce by 28.3% in the third quarter. Martingale Asset Management L P now owns 39,015 shares of the financial services provider’s stock valued at $476,000 after acquiring an additional 8,605 shares during the period. Acadian Asset Management LLC lifted its holdings in Bank of Commerce by 37.7% in the second quarter. Acadian Asset Management LLC now owns 48,870 shares of the financial services provider’s stock valued at $624,000 after acquiring an additional 13,380 shares during the period. Finally, First Mercantile Trust Co. lifted its holdings in Bank of Commerce by 8.1% in the third quarter. First Mercantile Trust Co. now owns 191,663 shares of the financial services provider’s stock valued at $2,338,000 after acquiring an additional 14,354 shares during the period. 55.83% of the stock is owned by hedge funds and other institutional investors.

Shares of BOCH stock traded up $0.06 during trading hours on Friday, reaching $12.39. 33,809 shares of the company’s stock were exchanged, compared to its average volume of 42,868. Bank of Commerce has a 1 year low of $8.40 and a 1 year high of $13.20. The firm has a market capitalization of $200.41 million, a price-to-earnings ratio of 19.36, a PEG ratio of 1.93 and a beta of 0.44. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.92 and a current ratio of 0.88.

Bank of Commerce (NASDAQ:BOCH) last issued its quarterly earnings results on Friday, October 19th. The financial services provider reported $0.25 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.03. Bank of Commerce had a return on equity of 10.35% and a net margin of 19.75%. The business had revenue of $13.07 million for the quarter, compared to analyst estimates of $12.85 million. As a group, equities analysts forecast that Bank of Commerce will post 0.91 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, October 12th. Investors of record on Tuesday, October 2nd were issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date of this dividend was Monday, October 1st. Bank of Commerce’s dividend payout ratio (DPR) is 25.00%.

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. 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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