Bank of Commerce Holdings (NASDAQ:BOCH) Director Lyle L. Tullis acquired 5,000 shares of the business’s stock in a transaction dated Thursday, December 6th. The shares were bought at an average price of $10.95 per share, for a total transaction of $54,750.00. Following the completion of the acquisition, the director now owns 275,565 shares in the company, valued at $3,017,436.75. The acquisition was disclosed in a legal filing with the SEC, which is available at this link.
Shares of BOCH stock traded down $0.04 during trading hours on Friday, hitting $10.69. 20,835 shares of the company were exchanged, compared to its average volume of 24,278. The firm has a market cap of $175.26 million, a P/E ratio of 16.70, a PEG ratio of 1.68 and a beta of 0.41. Bank of Commerce Holdings has a 1 year low of $8.40 and a 1 year high of $13.20. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.88 and a quick ratio of 0.88.
Bank of Commerce (NASDAQ:BOCH) last announced its quarterly earnings data on Friday, October 19th. The financial services provider reported $0.25 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.03. The business had revenue of $13.07 million for the quarter, compared to analyst estimates of $12.85 million. Bank of Commerce had a net margin of 19.75% and a return on equity of 10.35%. Analysts expect that Bank of Commerce Holdings will post 0.91 earnings per share for the current fiscal year.
Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. lifted its holdings in shares of Bank of Commerce by 5.5% during the 3rd quarter. BlackRock Inc. now owns 871,533 shares of the financial services provider’s stock worth $10,634,000 after acquiring an additional 45,228 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Bank of Commerce by 15.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 430,546 shares of the financial services provider’s stock worth $5,252,000 after acquiring an additional 57,156 shares during the period. First Mercantile Trust Co. lifted its holdings in shares of Bank of Commerce by 8.1% during the 3rd quarter. First Mercantile Trust Co. now owns 191,663 shares of the financial services provider’s stock worth $2,338,000 after acquiring an additional 14,354 shares during the period. Renaissance Technologies LLC raised its holdings in Bank of Commerce by 38.8% in the third quarter. Renaissance Technologies LLC now owns 147,700 shares of the financial services provider’s stock valued at $1,802,000 after buying an additional 41,318 shares during the period. Finally, Raymond James & Associates raised 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 buying an additional 4,440 shares during the period. Institutional investors and hedge funds own 55.90% of the company’s stock.
Several research analysts have recently weighed in on BOCH shares. Zacks Investment Research upgraded shares of Bank of Commerce from a “hold” rating to a “strong-buy” rating and set a $14.00 price objective on the stock in a report on Wednesday, October 10th. DA Davidson cut their price objective on shares of Bank of Commerce from $14.00 to $13.50 and set a “neutral” rating on the stock in a report on Tuesday, October 9th. Finally, ValuEngine lowered shares of Bank of Commerce from a “hold” rating to a “sell” rating in a report on Wednesday.
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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.
See Also: Institutional Investors
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