Zacks Investment Research downgraded shares of National Commerce Corporation (NASDAQ:NCOM) from a hold rating to a sell rating in a report published on Saturday, October 28th.
According to Zacks, “National Commerce Corporation is a bank holding company. It offers services which include demand deposits, interest-bearing transaction accounts, money market accounts, savings deposits, certificates of deposit, commercial real estate term loans, residential mortgage loans, construction and land development loans, home equity lines of credit secured by residential property; commercial and industrial loans; consumer loans, factoring, invoicing, collection, accounts receivable management services to transportation companies, automotive parts and service providers. The company operates primarily in Alabama, Huntsville, Auburn-Opelika, Baldwin County and Vero Beach, Florida. National Commerce Corporation is headquartered in Birmingham, Alabama. “
A number of other equities analysts have also recently weighed in on the stock. Keefe, Bruyette & Woods reaffirmed a hold rating and set a $43.00 price objective on shares of National Commerce Corporation in a research report on Thursday, October 26th. BidaskClub raised shares of National Commerce Corporation from a sell rating to a hold rating in a research report on Saturday, August 26th. Stephens set a $41.00 price objective on shares of National Commerce Corporation and gave the stock a hold rating in a research report on Thursday, August 17th. Finally, ValuEngine cut shares of National Commerce Corporation from a buy rating to a hold rating in a research report on Saturday, July 8th. One research analyst has rated the stock with a sell rating and six have given a hold rating to the stock. The company has a consensus rating of Hold and a consensus price target of $43.75.
Shares of National Commerce Corporation (NCOM) traded up $0.05 during midday trading on Friday, hitting $40.70. 24,429 shares of the stock were exchanged, compared to its average volume of 32,325. The firm has a market cap of $602.46, a P/E ratio of 22.27 and a beta of 1.04. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.04 and a quick ratio of 1.04. National Commerce Corporation has a fifty-two week low of $31.25 and a fifty-two week high of $43.80.
In other National Commerce Corporation news, Director Russell H. Iv Vandevelde purchased 1,767 shares of the firm’s stock in a transaction on Monday, August 21st. The stock was bought at an average price of $38.86 per share, with a total value of $68,665.62. Following the transaction, the director now directly owns 98,333 shares of the company’s stock, valued at approximately $3,821,220.38. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 19.40% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Nationwide Fund Advisors lifted its position in shares of National Commerce Corporation by 100.8% during the 1st quarter. Nationwide Fund Advisors now owns 10,878 shares of the financial services provider’s stock worth $398,000 after purchasing an additional 5,461 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of National Commerce Corporation by 5.9% during the 1st quarter. Vanguard Group Inc. now owns 344,839 shares of the financial services provider’s stock worth $12,621,000 after purchasing an additional 19,084 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of National Commerce Corporation by 11.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 48,059 shares of the financial services provider’s stock worth $1,900,000 after purchasing an additional 5,044 shares during the last quarter. Dimensional Fund Advisors LP purchased a new stake in shares of National Commerce Corporation during the 1st quarter worth $1,554,000. Finally, Banc Funds Co. LLC lifted its position in shares of National Commerce Corporation by 37.5% during the 2nd quarter. Banc Funds Co. LLC now owns 385,351 shares of the financial services provider’s stock worth $15,241,000 after purchasing an additional 105,000 shares during the last quarter. 44.76% of the stock is owned by institutional investors and hedge funds.
National Commerce Corporation Company Profile
National Commerce Corporation (NCC) is a financial holding company. The Company is engaged in the business of banking through its banking subsidiary, National Bank of Commerce (the Bank). The Company, through the Bank, provides a range of financial services to businesses, business owners and professionals.
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