Brokerages expect Bank of Commerce Holdings (NASDAQ:BOCH) to post $14.71 million in sales for the current quarter, according to Zacks. Two analysts have provided estimates for Bank of Commerce’s earnings. The highest sales estimate is $14.80 million and the lowest is $14.61 million. Bank of Commerce posted sales of $12.33 million in the same quarter last year, which suggests a positive year over year growth rate of 19.3%. The firm is scheduled to report its next earnings results on Friday, April 19th.
According to Zacks, analysts expect that Bank of Commerce will report full year sales of $61.54 million for the current year, with estimates ranging from $60.48 million to $62.60 million. For the next year, analysts anticipate that the business will report sales of $66.06 million, with estimates ranging from $65.01 million to $67.10 million. Zacks’ sales averages are a mean average based on a survey of analysts that cover Bank of Commerce.
Bank of Commerce (NASDAQ:BOCH) last posted its quarterly earnings data on Friday, January 18th. The financial services provider reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.03). The company had revenue of $13.63 million during the quarter, compared to the consensus estimate of $13.26 million. Bank of Commerce had a net margin of 27.73% and a return on equity of 10.78%.
A number of equities analysts recently commented on BOCH shares. ValuEngine raised shares of Bank of Commerce from a “sell” rating to a “hold” rating in a research note on Friday, December 21st. Zacks Investment Research downgraded shares of Bank of Commerce from a “buy” rating to a “hold” rating in a research report on Tuesday, December 25th.
Shares of Bank of Commerce stock traded up $0.06 on Friday, hitting $11.09. The company had a trading volume of 200 shares, compared to its average volume of 38,641. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.87 and a quick ratio of 0.87. The stock has a market capitalization of $200.84 million, a PE ratio of 12.75, a price-to-earnings-growth ratio of 1.48 and a beta of 0.57. Bank of Commerce has a 52 week low of $8.40 and a 52 week high of $13.20.
The business also recently announced a quarterly dividend, which will be paid on Thursday, April 18th. Shareholders of record on Tuesday, April 9th will be given a $0.04 dividend. The ex-dividend date of this dividend is Monday, April 8th. This represents a $0.16 dividend on an annualized basis and a yield of 1.44%. Bank of Commerce’s payout ratio is 18.39%.
In related news, Director Karl L. Silberstein bought 3,000 shares of the business’s stock in a transaction on Friday, March 8th. The stock was bought at an average price of $10.80 per share, for a total transaction of $32,400.00. Following the transaction, the director now directly owns 6,500 shares in the company, valued at $70,200. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 6.41% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the company. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC raised its holdings in shares of Bank of Commerce by 1.4% during the 4th quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 72,926 shares of the financial services provider’s stock valued at $799,000 after purchasing an additional 1,024 shares in the last quarter. JCSD Capital LLC raised its holdings in shares of Bank of Commerce by 7.3% during the 4th quarter. JCSD Capital LLC now owns 289,321 shares of the financial services provider’s stock valued at $3,171,000 after purchasing an additional 19,728 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Bank of Commerce by 5.5% during the 3rd quarter. BlackRock Inc. now owns 871,533 shares of the financial services provider’s stock valued at $10,634,000 after purchasing an additional 45,228 shares in the last quarter. First Mercantile Trust Co. raised its holdings in shares of Bank of Commerce by 1.0% during the 4th quarter. First Mercantile Trust Co. now owns 193,551 shares of the financial services provider’s stock valued at $2,121,000 after purchasing an additional 1,888 shares in the last quarter. Finally, Acadian Asset Management LLC raised its holdings in shares of Bank of Commerce by 50.7% during the 4th quarter. Acadian Asset Management LLC now owns 107,551 shares of the financial services provider’s stock valued at $1,180,000 after purchasing an additional 36,175 shares in the last quarter. Institutional investors and hedge funds own 50.01% of the company’s stock.
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. The company's deposit products include checking, interest-bearing checking, money market, and savings accounts, as well as certificates of deposit.
Featured Story: Does the discount rate affect the economy?
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.