Bank of Commerce (NASDAQ:BOCH) was downgraded by equities researchers at ValuEngine from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.

Other analysts have also recently issued reports about the company. Zacks Investment Research cut Bank of Commerce from a “strong-buy” rating to a “hold” rating in a report on Monday, September 24th. DA Davidson dropped 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.

Shares of NASDAQ:BOCH opened at $10.73 on Wednesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.88 and a quick ratio of 0.88. The firm has a market capitalization of $181.30 million, a price-to-earnings ratio of 16.77, a P/E/G ratio of 1.74 and a beta of 0.41. Bank of Commerce has a 52-week low of $8.40 and a 52-week high of $13.20.

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

In other Bank of Commerce news, CFO James A. Sundquist purchased 10,000 shares of the stock in a transaction dated Wednesday, October 24th. The stock was acquired at an average cost of $11.49 per share, for a total transaction of $114,900.00. Following the acquisition, the chief financial officer now owns 116,999 shares in the company, valued at approximately $1,344,318.51. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Joseph Gibson purchased 2,500 shares of the stock in a transaction dated Tuesday, October 23rd. The shares were acquired at an average price of $11.50 per share, with a total value of $28,750.00. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 13,500 shares of company stock valued at $155,120. Company insiders own 6.41% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BOCH. LPL Financial LLC purchased a new position in shares of Bank of Commerce during the 3rd quarter worth $122,000. JPMorgan Chase & Co. grew its holdings in shares of Bank of Commerce by 672.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 23,694 shares of the financial services provider’s stock worth $289,000 after purchasing an additional 20,627 shares during the period. Bailard Inc. purchased a new position in shares of Bank of Commerce during the 3rd quarter worth $310,000. Martingale Asset Management L P grew its holdings in shares of Bank of Commerce by 28.3% during the 3rd quarter. Martingale Asset Management L P now owns 39,015 shares of the financial services provider’s stock worth $476,000 after purchasing an additional 8,605 shares during the period. Finally, Bank of America Corp DE grew its holdings in shares of Bank of Commerce by 2,671.9% during the 2nd quarter. Bank of America Corp DE now owns 42,632 shares of the financial services provider’s stock worth $544,000 after purchasing an additional 41,094 shares during the period. Institutional investors and hedge funds own 55.90% of the company’s stock.

About Bank of Commerce

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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