Bank of Commerce Holdings (CA) (BOCH) Expected to Post Quarterly Sales of $11.67 Million

Wall Street analysts expect Bank of Commerce Holdings (CA) (NASDAQ:BOCH) to report sales of $11.67 million for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Bank of Commerce Holdings (CA)’s earnings, with the lowest sales estimate coming in at $11.50 million and the highest estimate coming in at $11.84 million. Bank of Commerce Holdings (CA) reported sales of $10.24 million during the same quarter last year, which indicates a positive year-over-year growth rate of 14%. The business is expected to report its next quarterly earnings report on Friday, October 20th.

On average, analysts expect that Bank of Commerce Holdings (CA) will report full year sales of $11.67 million for the current fiscal year, with estimates ranging from $45.70 million to $46.30 million. For the next fiscal year, analysts forecast that the business will report sales of $50.34 million per share, with estimates ranging from $50.18 million to $50.50 million. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Bank of Commerce Holdings (CA).

Bank of Commerce Holdings (CA) (NASDAQ:BOCH) last announced its quarterly earnings results on Friday, July 21st. The financial services provider reported $0.15 EPS for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.01. Bank of Commerce Holdings (CA) had a return on equity of 8.88% and a net margin of 19.12%. The firm had revenue of $11.16 million for the quarter, compared to analyst estimates of $11.23 million.

A number of equities analysts have recently issued reports on the company. ValuEngine upgraded Bank of Commerce Holdings (CA) from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. Zacks Investment Research cut Bank of Commerce Holdings (CA) from a “buy” rating to a “hold” rating in a report on Thursday, August 31st.

Shares of Bank of Commerce Holdings (NASDAQ BOCH) traded down 1.30% during mid-day trading on Monday, hitting $11.35. The stock had a trading volume of 7,501 shares. The firm has a 50 day moving average price of $10.79 and a 200-day moving average price of $10.87. The stock has a market cap of $184.55 million, a P/E ratio of 17.25 and a beta of 0.43. Bank of Commerce Holdings has a 12 month low of $7.00 and a 12 month high of $11.90.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Tuesday, October 3rd will be issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date of this dividend is Monday, October 2nd. Bank of Commerce Holdings (CA)’s payout ratio is currently 17.91%.

Institutional investors and hedge funds have recently bought and sold shares of the company. Wellington Management Group LLP boosted its holdings in shares of Bank of Commerce Holdings (CA) by 222.9% in the 1st quarter. Wellington Management Group LLP now owns 333,184 shares of the financial services provider’s stock worth $3,565,000 after purchasing an additional 229,988 shares in the last quarter. Emerald Mutual Fund Advisers Trust purchased a new position in shares of Bank of Commerce Holdings (CA) in the 2nd quarter worth about $4,692,000. Vanguard Group Inc. boosted its holdings in shares of Bank of Commerce Holdings (CA) by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 666,055 shares of the financial services provider’s stock worth $7,127,000 after purchasing an additional 15,800 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Bank of Commerce Holdings (CA) by 12.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 206,327 shares of the financial services provider’s stock worth $2,208,000 after purchasing an additional 22,369 shares in the last quarter. Finally, Banc Funds Co. LLC boosted its holdings in shares of Bank of Commerce Holdings (CA) by 16.4% in the 2nd quarter. Banc Funds Co. LLC now owns 1,067,326 shares of the financial services provider’s stock worth $11,794,000 after purchasing an additional 150,000 shares in the last quarter. Hedge funds and other institutional investors own 51.56% of the company’s stock.

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Bank of Commerce Holdings (CA) Company Profile

Bank of Commerce Holdings (Holding Company) is a bank holding company. The Company’s principal business is to serve as a holding company for Redding Bank of Commerce (Bank), which operates under two separate names (Redding Bank of Commerce and Sacramento Bank of Commerce). The Bank operates over four full service facilities in two diverse markets in Northern California.

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