Zacks: Analysts Anticipate National Commerce Corporation (NCOM) Will Post Quarterly Sales of $30.77 Million
Equities research analysts predict that National Commerce Corporation (NASDAQ:NCOM) will report $30.77 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for National Commerce Corporation’s earnings, with the highest sales estimate coming in at $30.90 million and the lowest estimate coming in at $30.63 million. National Commerce Corporation reported sales of $20.88 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 47.4%. The business is expected to issue its next earnings results on Tuesday, October 24th.
According to Zacks, analysts expect that National Commerce Corporation will report full year sales of $30.77 million for the current year, with estimates ranging from $118.80 million to $119.49 million. For the next fiscal year, analysts forecast that the business will post sales of $152.33 million per share, with estimates ranging from $151.70 million to $152.97 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for National Commerce Corporation.
NCOM has been the subject of several recent analyst reports. ValuEngine upgraded shares of National Commerce Corporation from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Zacks Investment Research upgraded shares of National Commerce Corporation from a “hold” rating to a “buy” rating and set a $46.00 price objective on the stock in a report on Wednesday. Stephens set a $41.00 price objective on shares of National Commerce Corporation and gave the stock a “hold” rating in a report on Thursday, August 17th. Finally, BidaskClub upgraded shares of National Commerce Corporation from a “sell” rating to a “hold” rating in a report on Saturday, August 26th. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. National Commerce Corporation currently has a consensus rating of “Hold” and a consensus target price of $42.50.
Shares of National Commerce Corporation (NASDAQ:NCOM) traded down 0.47% during mid-day trading on Thursday, hitting $42.05. The company’s stock had a trading volume of 16,787 shares. The company has a 50-day moving average of $39.69 and a 200 day moving average of $38.59. National Commerce Corporation has a 1-year low of $26.02 and a 1-year high of $42.20. The company has a market cap of $591.64 million, a price-to-earnings ratio of 23.44 and a beta of 1.07.
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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 shares were acquired at an average cost of $38.86 per share, for a total transaction of $68,665.62. Following the completion of the transaction, the director now owns 98,333 shares of the company’s stock, valued at $3,821,220.38. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 19.40% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC purchased a new position in shares of National Commerce Corporation in the 1st quarter worth $108,000. Legal & General Group Plc grew its stake in shares of 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 worth $109,000 after buying an additional 296 shares in the last quarter. American International Group Inc. grew its stake 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 in the last quarter. Bank of Montreal Can grew its stake 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 in the last quarter. Finally, Globeflex Capital L P purchased a new position in shares of National Commerce Corporation in the 2nd quarter worth $247,000. 47.21% of the stock is owned by institutional investors.
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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