Analysts Set $12.00 Target Price for Bank of Commerce Holdings (NASDAQ:BOCH)

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

Brokerages have set a 1-year consensus price target of $12.00 for the company and are predicting that the company will post $0.23 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Bank of Commerce an industry rank of 165 out of 256 based on the ratings given to related companies.

A number of research firms have weighed in on BOCH. Zacks Investment Research upgraded Bank of Commerce from a “sell” rating to a “hold” rating in a report on Thursday, February 28th. ValuEngine cut Bank of Commerce from a “hold” rating to a “sell” rating in a report on Tuesday, March 5th.

In other Bank of Commerce news, Director Joseph Gibson bought 2,500 shares of the business’s stock in a transaction on Wednesday, May 15th. The shares were bought at an average cost of $10.50 per share, with a total value of $26,250.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director David J. Inderkum bought 2,591 shares of the business’s stock in a transaction on Thursday, May 30th. The stock was acquired at an average cost of $10.30 per share, for a total transaction of $26,687.30. Following the completion of the transaction, the director now owns 28,600 shares in the company, valued at $294,580. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 12,613 shares of company stock valued at $133,068. 5.67% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. boosted 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 valued at $10,532,000 after buying an additional 89,526 shares in the last quarter. EJF Capital LLC boosted its stake in Bank of Commerce by 0.4% during the fourth quarter. EJF Capital LLC now owns 885,153 shares of the financial services provider’s stock valued at $9,701,000 after buying an additional 3,141 shares in the last quarter. Context BH Capital Management LP boosted its stake in Bank of Commerce by 328.3% during 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 buying an additional 379,737 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Bank of Commerce by 13.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 488,309 shares of the financial services provider’s stock valued at $5,352,000 after buying an additional 57,763 shares in the last quarter. Finally, Pacific Ridge Capital Partners LLC boosted 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 valued at $4,703,000 after buying an additional 71,426 shares in the last quarter. 48.89% of the stock is currently owned by institutional investors.

NASDAQ BOCH traded up $0.15 on Friday, reaching $10.75. The company had a trading volume of 505 shares, compared to its average volume of 19,425. The firm has a market capitalization of $187.79 million, a price-to-earnings ratio of 12.39, a PEG ratio of 1.71 and a beta of 0.59. Bank of Commerce has a 1 year low of $8.40 and a 1 year high of $13.20. The firm’s 50-day moving average is $10.47. The company has a quick ratio of 0.87, a current 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 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.26 by ($0.02). The company had revenue of $14.06 million during the quarter, compared to analysts’ expectations of $14.71 million. Bank of Commerce had a return on equity of 10.83% and a net margin of 25.21%. As a group, analysts forecast that Bank of Commerce will post 0.87 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Tuesday, July 2nd will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date of this dividend is Monday, July 1st. This is a boost from Bank of Commerce’s previous quarterly dividend of $0.04. Bank of Commerce’s dividend payout ratio is currently 18.39%.

Bank of Commerce Company Profile

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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