Modera Wealth Management LLC lowered its stake in shares of National Commerce Corporation (NASDAQ:NCOM) by 49.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 21,357 shares of the financial services provider’s stock after selling 21,000 shares during the quarter. Modera Wealth Management LLC owned 0.15% of National Commerce Corporation worth $845,000 at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. Legal & General Group Plc grew its position in National Commerce Corporation by 12.0% in the 2nd quarter. Legal & General Group Plc now owns 2,754 shares of the financial services provider’s stock valued at $109,000 after acquiring an additional 296 shares during the last quarter. SG Americas Securities LLC bought a new position in National Commerce Corporation in the 1st quarter valued at $108,000. American International Group Inc. lifted its holdings in shares of National Commerce Corporation by 7.1% in the 1st quarter. American International Group Inc. now owns 5,207 shares of the financial services provider’s stock worth $191,000 after buying an additional 344 shares during the period. Bank of Montreal Can lifted its holdings in shares of National Commerce Corporation by 36.0% in the 1st quarter. Bank of Montreal Can now owns 6,054 shares of the financial services provider’s stock worth $222,000 after buying an additional 1,604 shares during the period. Finally, Homrich & Berg purchased a new stake in shares of National Commerce Corporation in the 1st quarter worth $236,000. 47.21% of the stock is currently owned by institutional investors.
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In related news, Director Russell H. Iv Vandevelde bought 1,767 shares of the stock in a transaction that occurred on Monday, August 21st. The stock was purchased at an average cost of $38.86 per share, with a total value of $68,665.62. Following the purchase, 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 19.40% of the company’s stock.
Shares of National Commerce Corporation (NASDAQ:NCOM) opened at 40.50 on Friday. The firm has a 50-day moving average price of $39.69 and a 200-day moving average price of $38.59. The stock has a market capitalization of $569.84 million, a PE ratio of 22.58 and a beta of 1.07. National Commerce Corporation has a 1-year low of $26.02 and a 1-year high of $41.25.
Several equities research analysts have weighed in on the company. ValuEngine cut National Commerce Corporation from a “buy” rating to a “hold” rating in a report on Saturday, July 8th. Zacks Investment Research cut National Commerce Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. BidaskClub upgraded National Commerce Corporation from a “sell” rating to a “hold” rating in a report on Saturday, August 26th. Finally, Stephens set a $41.00 price objective on National Commerce Corporation and gave the stock a “hold” rating in a research note on Thursday, August 17th. Seven research analysts have rated the stock with a hold rating, The stock presently has a consensus rating of “Hold” and a consensus target price of $39.00.
About National Commerce Corporation
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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