Zacks Investment Research cut shares of Bank of Commerce (NASDAQ:BOCH) from a hold rating to a sell rating in a report issued on Wednesday morning, Zacks.com reports.

According to Zacks, “Bank of Commerce Holdings is a financial service holding company that owns Redding Bank of Commerce, Roseville Bank of Commerce, a division of Redding Bank of Commerce and Bank of Commerce Mortgage, an affiliate of Redding Bank of Commerce and Roseville Bank of Commerce. “

Shares of BOCH traded up $0.07 during midday trading on Wednesday, hitting $10.57. 8,600 shares of the stock were exchanged, compared to its average volume of 27,035. Bank of Commerce has a 52-week low of $8.40 and a 52-week high of $13.20. The stock’s fifty day moving average is $10.52. The firm has a market cap of $195.04 million, a price-to-earnings ratio of 12.15, a P/E/G ratio of 1.78 and a beta of 0.59. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.26.

Bank of Commerce (NASDAQ:BOCH) last released its quarterly earnings results on Friday, April 19th. The financial services provider reported $0.24 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.02). Bank of Commerce had a return on equity of 10.83% and a net margin of 25.21%. The firm had revenue of $14.06 million for the quarter, compared to analysts’ expectations of $14.71 million. As a group, equities research analysts anticipate that Bank of Commerce will post 0.87 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Tuesday, July 2nd will be given a dividend of $0.05 per share. This is a positive change from Bank of Commerce’s previous quarterly dividend of $0.04. This represents a $0.20 annualized dividend and a dividend yield of 1.89%. The ex-dividend date is Monday, July 1st. Bank of Commerce’s dividend payout ratio (DPR) is currently 22.99%.

In related news, Director Karl L. Silberstein bought 2,907 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The stock was purchased at an average cost of $10.70 per share, for a total transaction of $31,104.90. Following the completion of the acquisition, the director now owns 9,795 shares in the company, valued at approximately $104,806.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David J. Inderkum bought 2,591 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The stock was bought at an average price of $10.30 per share, with a total value of $26,687.30. Following the completion of the acquisition, the director now owns 28,600 shares of the company’s stock, valued at approximately $294,580. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 12,613 shares of company stock valued at $133,068. Company insiders own 5.67% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. Marshall Wace LLP increased its holdings in Bank of Commerce by 443.1% in the 1st quarter. Marshall Wace LLP now owns 24,639 shares of the financial services provider’s stock valued at $260,000 after purchasing an additional 20,102 shares in the last quarter. Pacific Ridge Capital Partners LLC increased its holdings in Bank of Commerce by 19.1% in the 1st quarter. Pacific Ridge Capital Partners LLC now owns 445,746 shares of the financial services provider’s stock valued at $4,703,000 after purchasing an additional 71,426 shares in the last quarter. Context BH Capital Management LP increased its holdings in Bank of Commerce by 328.3% in the 1st quarter. Context BH Capital Management LP now owns 495,406 shares of the financial services provider’s stock valued at $5,227,000 after purchasing an additional 379,737 shares in the last quarter. O Shaughnessy Asset Management LLC increased its holdings in Bank of Commerce by 106.3% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 10,547 shares of the financial services provider’s stock valued at $111,000 after purchasing an additional 5,435 shares in the last quarter. Finally, Acadian Asset Management LLC increased its holdings in Bank of Commerce by 15.5% in the 1st quarter. Acadian Asset Management LLC now owns 124,273 shares of the financial services provider’s stock valued at $1,311,000 after purchasing an additional 16,722 shares in the last quarter. Hedge funds and other institutional investors own 48.89% 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. Its deposit products include checking, interest-bearing checking, money market, and savings accounts, as well as certificates of deposit.

Read More: Calculating net profit and net profit margin ratio

Get a free copy of the Zacks research report on Bank of Commerce (BOCH)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Bank of Commerce Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bank of Commerce and related companies with MarketBeat.com's FREE daily email newsletter.