Bank of Commerce (NASDAQ:BOCH) Raised to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Bank of Commerce (NASDAQ:BOCH) from a sell rating to a hold rating in a report published on Tuesday, 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. “

Separately, TheStreet lowered Bank of Commerce from a b rating to a f rating in a research report on Monday, July 22nd.

BOCH opened at $9.85 on Tuesday. The business has a 50 day simple moving average of $10.46 and a two-hundred day simple moving average of $10.73. The firm has a market capitalization of $183.96 million, a price-to-earnings ratio of 11.22, a PEG ratio of 1.75 and a beta of 0.59. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.86 and a quick ratio of 0.86. Bank of Commerce has a one year low of $8.40 and a one year high of $13.15.

In other news, Director David J. Inderkum bought 2,591 shares of the firm’s stock in a transaction dated Thursday, May 30th. The stock was purchased at an average price of $10.30 per share, with a total value of $26,687.30. Following the transaction, the director now owns 28,600 shares of the company’s stock, valued at $294,580. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO James A. Sundquist bought 3,000 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was purchased at an average cost of $9.99 per share, with a total value of $29,970.00. Following the transaction, the chief financial officer now directly owns 15,227 shares in the company, valued at approximately $152,117.73. The disclosure for this purchase can be found here. Insiders bought a total of 17,091 shares of company stock valued at $175,682 in the last three months. Corporate insiders own 5.67% of the company’s stock.

Large investors have recently made changes to their positions in the company. BNP Paribas Arbitrage SA raised its position in shares of Bank of Commerce by 539.1% in the 1st quarter. BNP Paribas Arbitrage SA now owns 3,266 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 2,755 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Bank of Commerce in the 1st quarter worth approximately $107,000. O Shaughnessy Asset Management LLC raised its position in shares of 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 worth $111,000 after acquiring an additional 5,435 shares in the last quarter. Menta Capital LLC raised its position in shares of Bank of Commerce by 30.4% in the 1st quarter. Menta Capital LLC now owns 14,055 shares of the financial services provider’s stock worth $148,000 after acquiring an additional 3,276 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. bought a new position in shares of Bank of Commerce in the 2nd quarter worth approximately $164,000. 49.66% of the stock is owned by hedge funds and other institutional investors.

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.

Further Reading: Oversold

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.