National Commerce (NCOM) Downgraded by Zacks Investment Research to “Hold”

Zacks Investment Research downgraded shares of National Commerce (NASDAQ:NCOM) from a buy rating to a hold rating in a research note released on Tuesday morning.

According to Zacks, “National Commerce Corporation is a bank holding company. It offers services which include demand deposits, interest-bearing transaction accounts, money market accounts, savings deposits, certificates of deposit, commercial real estate term loans, residential mortgage loans, construction and land development loans, home equity lines of credit secured by residential property; commercial and industrial loans; consumer loans, factoring, invoicing, collection, accounts receivable management services to transportation companies, automotive parts and service providers. The company operates primarily in Alabama, Huntsville, Auburn-Opelika, Baldwin County and Vero Beach, Florida. National Commerce Corporation is headquartered in Birmingham, Alabama. “

A number of other equities research analysts have also issued reports on NCOM. BidaskClub lowered shares of National Commerce from a strong-buy rating to a buy rating in a report on Wednesday, June 13th. Stephens reissued a hold rating and issued a $48.00 price target on shares of National Commerce in a report on Thursday, July 26th. Finally, ValuEngine lowered shares of National Commerce from a hold rating to a sell rating in a report on Thursday, September 27th. Two research analysts have rated the stock with a sell rating and three have issued a hold rating to the company. National Commerce presently has an average rating of Hold and an average price target of $48.67.

Shares of National Commerce stock opened at $39.34 on Tuesday. The firm has a market capitalization of $851.74 million, a price-to-earnings ratio of 19.97 and a beta of 1.03. National Commerce has a 12-month low of $35.84 and a 12-month high of $48.60. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.02 and a current ratio of 1.02.

National Commerce (NASDAQ:NCOM) last announced its quarterly earnings results on Wednesday, July 25th. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.04). The firm had revenue of $38.08 million during the quarter, compared to the consensus estimate of $38.73 million. National Commerce had a return on equity of 7.97% and a net margin of 18.14%. Research analysts expect that National Commerce will post 2.63 earnings per share for the current fiscal year.

A number of institutional investors have recently made changes to their positions in the business. BlackRock Inc. grew its holdings in National Commerce by 30.3% in the 2nd quarter. BlackRock Inc. now owns 866,150 shares of the financial services provider’s stock worth $40,102,000 after acquiring an additional 201,532 shares during the last quarter. Elizabeth Park Capital Advisors Ltd. grew its holdings in National Commerce by 8.6% in the 2nd quarter. Elizabeth Park Capital Advisors Ltd. now owns 362,126 shares of the financial services provider’s stock worth $16,766,000 after acquiring an additional 28,650 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in National Commerce by 19.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 226,696 shares of the financial services provider’s stock worth $10,496,000 after acquiring an additional 36,787 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of National Commerce by 0.8% during the 1st quarter. The Manufacturers Life Insurance Company now owns 223,067 shares of the financial services provider’s stock valued at $9,714,000 after purchasing an additional 1,798 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in shares of National Commerce by 23.3% during the 2nd quarter. Northern Trust Corp now owns 178,722 shares of the financial services provider’s stock valued at $8,275,000 after purchasing an additional 33,764 shares in the last quarter. 45.42% of the stock is currently owned by institutional investors and hedge funds.

About National Commerce

National Commerce Corporation operates as the bank holding company for National Bank of Commerce that provides various financial services to businesses, business owners, and professionals. The company offers deposit products, including interest and noninterest-bearing demand deposits, money market accounts, interest-bearing transaction accounts, savings and time deposits, checking accounts, and certificates of deposit, as well as negotiable orders of withdrawal accounts.

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