Panagora Asset Management Inc. raised its holdings in Bank of Commerce Holdings (NASDAQ:BOCH) by 5.9% during the 2nd quarter, Holdings Channel.com reports. The firm owned 145,270 shares of the financial services provider’s stock after acquiring an additional 8,154 shares during the period. Panagora Asset Management Inc.’s holdings in Bank of Commerce were worth $1,553,000 as of its most recent filing with the SEC.
A number of other large investors have also bought and sold shares of the business. Context BH Capital Management LP raised its stake in shares of Bank of Commerce by 328.3% during the 1st 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 during the last quarter. Pacific Ridge Capital Partners LLC raised its position 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 acquiring an additional 71,426 shares in the last quarter. LSV Asset Management raised its position in Bank of Commerce by 28.6% during the first quarter. LSV Asset Management now owns 172,516 shares of the financial services provider’s stock valued at $1,820,000 after acquiring an additional 38,381 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in Bank of Commerce by 6.7% in the second quarter. Acadian Asset Management LLC now owns 132,640 shares of the financial services provider’s stock valued at $1,419,000 after acquiring an additional 8,367 shares during the period. Finally, Municipal Employees Retirement System of Michigan acquired a new position in Bank of Commerce in the second quarter valued at approximately $542,000. 49.56% of the stock is currently owned by institutional investors.
A number of equities research analysts have recently commented on the stock. TheStreet cut shares of Bank of Commerce from a “b” rating to a “f” rating in a research note on Monday, July 22nd. Raymond James cut their target price on shares of Bank of Commerce from $12.00 to $11.50 and set an “outperform” rating for the company in a report on Thursday, August 29th. Finally, Zacks Investment Research upgraded shares of Bank of Commerce from a “sell” rating to a “hold” rating in a research note on Monday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $13.00.
Shares of BOCH stock traded up $0.02 during mid-day trading on Wednesday, hitting $10.45. 305 shares of the stock were exchanged, compared to its average volume of 20,862. Bank of Commerce Holdings has a 52-week low of $8.40 and a 52-week high of $13.10. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.12. The company has a market cap of $188.33 million, a PE ratio of 12.11, a price-to-earnings-growth ratio of 1.79 and a beta of 0.64. The firm has a fifty day moving average of $10.25 and a 200 day moving average of $10.61.
Bank of Commerce (NASDAQ:BOCH) last announced its quarterly earnings results on Friday, July 19th. The financial services provider reported $0.20 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.03). The business had revenue of $14.60 million during the quarter, compared to analysts’ expectations of $15.09 million. Bank of Commerce had a net margin of 24.31% and a return on equity of 10.16%. Equities analysts predict that Bank of Commerce Holdings will post 0.82 EPS for the current year.
In related news, CFO James A. Sundquist purchased 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were purchased at an average cost of $9.99 per share, with a total value of $29,970.00. Following the purchase, the chief financial officer now owns 15,227 shares of the company’s stock, valued at approximately $152,117.73. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Karl L. Silberstein bought 4,000 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The stock was purchased at an average price of $10.60 per share, for a total transaction of $42,400.00. Following the transaction, the director now owns 11,795 shares of the company’s stock, valued at $125,027. The disclosure for this purchase can be found here. Insiders have acquired 13,000 shares of company stock worth $133,150 in the last quarter. 5.67% of the stock is currently owned by company insiders.
Bank of Commerce 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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