Bank of Commerce (NASDAQ:BOCH) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report released on Tuesday, Zacks.com reports. The brokerage currently has a $12.00 price target on the financial services provider’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 14.94% from the company’s previous close.

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. “

Separately, Raymond James raised their price target on Bank of Commerce from $10.50 to $11.50 and gave the stock an “outperform” rating in a research report on Monday, January 25th.

NASDAQ:BOCH traded down $0.06 on Tuesday, hitting $10.44. The stock had a trading volume of 2,486 shares, compared to its average volume of 37,587. The company has a fifty day moving average price of $10.41 and a two-hundred day moving average price of $8.87. Bank of Commerce has a 1-year low of $5.68 and a 1-year high of $11.31. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.17. The stock has a market cap of $175.26 million, a price-to-earnings ratio of 13.38 and a beta of 0.72.

Bank of Commerce (NASDAQ:BOCH) last issued its quarterly earnings data on Thursday, January 21st. The financial services provider reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.02. Bank of Commerce had a return on equity of 8.53% and a net margin of 21.22%. As a group, analysts anticipate that Bank of Commerce will post 0.88 earnings per share for the current year.

In other Bank of Commerce news, Director Lyle L. Tullis acquired 15,000 shares of the company’s stock in a transaction dated Tuesday, January 26th. The shares were acquired at an average price of $10.57 per share, for a total transaction of $158,550.00. Following the acquisition, the director now owns 325,365 shares in the company, valued at approximately $3,439,108.05. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 5.88% of the company’s stock.

Several institutional investors have recently modified their holdings of BOCH. Bailard Inc. raised its stake in Bank of Commerce by 7.2% during the 4th quarter. Bailard Inc. now owns 22,300 shares of the financial services provider’s stock worth $221,000 after acquiring an additional 1,500 shares in the last quarter. Citigroup Inc. boosted its stake in Bank of Commerce by 316.5% in the fourth quarter. Citigroup Inc. now owns 3,186 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 2,421 shares in the last quarter. Panagora Asset Management Inc. grew its holdings in shares of Bank of Commerce by 2.0% during the fourth quarter. Panagora Asset Management Inc. now owns 124,057 shares of the financial services provider’s stock worth $1,228,000 after purchasing an additional 2,473 shares during the last quarter. BNP Paribas Arbitrage SA increased its position in shares of Bank of Commerce by 263.3% during the third quarter. BNP Paribas Arbitrage SA now owns 3,771 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 2,733 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in shares of Bank of Commerce by 6.4% in the 3rd quarter. Wells Fargo & Company MN now owns 47,887 shares of the financial services provider’s stock valued at $333,000 after purchasing an additional 2,895 shares during the last quarter. Institutional investors and hedge funds own 52.66% of the company’s stock.

Bank of Commerce Company Profile

Bank of Commerce Holdings operates as the bank holding company for Merchants Bank of Commerce that provides a range of financial services and products for small to medium-sized businesses, and retail customers in California. The company accepts various deposit products, such as checking, interest bearing checking, money market, and savings accounts, as well as certificates of deposit.

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