Zacks: Bank of Commerce Holdings (BOCH) Given $12.00 Average Price Target by Analysts

Shares of Bank of Commerce Holdings (NASDAQ:BOCH) have received a consensus broker rating score of 2.50 (Hold) from the two analysts that provide coverage for the company, Zacks Investment Research reports. One analyst has rated the stock with a hold rating and one has given a buy rating to the company.

Brokers have set a one year consensus price objective of $12.00 for the company and are forecasting that the company will post $0.23 earnings per share for the current quarter, according to Zacks. Zacks has also given Bank of Commerce an industry rank of 223 out of 256 based on the ratings given to its competitors.

A number of research analysts have recently commented on the company. Zacks Investment Research upgraded Bank of Commerce from a “sell” rating to a “hold” rating in a report on Tuesday, February 12th. ValuEngine lowered Bank of Commerce from a “hold” rating to a “sell” rating in a report on Thursday, January 31st.

In other news, Director Karl L. Silberstein bought 3,000 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The stock was acquired at an average cost of $10.80 per share, for a total transaction of $32,400.00. Following the completion of the purchase, the director now owns 6,500 shares of the company’s stock, valued at approximately $70,200. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Karl L. Silberstein bought 2,907 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was purchased at an average price of $10.70 per share, with a total value of $31,104.90. Following the completion of the purchase, the director now directly owns 9,795 shares of the company’s stock, valued at approximately $104,806.50. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 8,317 shares of company stock valued at $89,886. Corporate insiders own 5.67% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of BOCH. Context BH Capital Management LP raised its stake in shares of Bank of Commerce by 328.3% in the first 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. BlackRock Inc. raised its stake in Bank of Commerce by 10.3% during the fourth quarter. BlackRock Inc. now owns 961,059 shares of the financial services provider’s stock worth $10,532,000 after acquiring an additional 89,526 shares in the last quarter. Pacific Ridge Capital Partners LLC raised its stake in Bank of Commerce by 19.1% during the first quarter. Pacific Ridge Capital Partners LLC now owns 445,746 shares of the financial services provider’s stock worth $4,703,000 after acquiring an additional 71,426 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Bank of Commerce by 12.5% during the first quarter. Dimensional Fund Advisors LP now owns 549,474 shares of the financial services provider’s stock worth $5,797,000 after acquiring an additional 61,165 shares in the last quarter. Finally, Martingale Asset Management L P raised its stake in Bank of Commerce by 137.2% during the fourth quarter. Martingale Asset Management L P now owns 92,534 shares of the financial services provider’s stock worth $1,015,000 after acquiring an additional 53,519 shares in the last quarter. Institutional investors and hedge funds own 49.63% of the company’s stock.

Shares of BOCH stock opened at $10.58 on Thursday. Bank of Commerce has a 12 month low of $8.40 and a 12 month high of $13.20. The company has a market cap of $190.33 million, a PE ratio of 12.16, a price-to-earnings-growth ratio of 1.73 and a beta of 0.57. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.87 and a quick ratio of 0.87.

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 18th. Stockholders of record on Tuesday, April 9th were issued a dividend of $0.04 per share. The ex-dividend date of this dividend was Monday, April 8th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.51%. Bank of Commerce’s dividend payout ratio (DPR) is presently 18.39%.

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.

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