Bank of Commerce Holdings (NASDAQ:BOCH) Short Interest Update

Bank of Commerce Holdings (NASDAQ:BOCH) saw a large drop in short interest in July. As of July 31st, there was short interest totalling 65,500 shares, a drop of 11.2% from the June 30th total of 73,800 shares. Based on an average daily volume of 24,000 shares, the short-interest ratio is currently 2.7 days. Currently, 0.4% of the shares of the stock are short sold.

In other news, Director Karl L. Silberstein acquired 4,000 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The shares were bought at an average price of $10.60 per share, for a total transaction of $42,400.00. Following the acquisition, the director now owns 11,795 shares of the company’s stock, valued at approximately $125,027. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO James A. Sundquist acquired 2,500 shares of the firm’s stock in a transaction on Wednesday, May 29th. The stock was purchased at an average price of $10.35 per share, for a total transaction of $25,875.00. The disclosure for this purchase can be found here. Insiders acquired a total of 14,091 shares of company stock worth $145,712 in the last 90 days. 5.67% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. increased its holdings in shares of Bank of Commerce by 4.9% in the second quarter. BlackRock Inc. now owns 1,031,438 shares of the financial services provider’s stock valued at $11,027,000 after purchasing an additional 48,606 shares during the period. Vanguard Group Inc. increased its holdings in shares of Bank of Commerce by 0.6% in the second quarter. Vanguard Group Inc. now owns 749,463 shares of the financial services provider’s stock valued at $8,012,000 after purchasing an additional 4,309 shares during the period. Context BH Capital Management LP increased its holdings in shares of Bank of Commerce by 328.3% in the first quarter. Context BH Capital Management LP now owns 495,406 shares of the financial services provider’s stock valued at $5,227,000 after purchasing an additional 379,737 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Bank of Commerce by 13.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 488,309 shares of the financial services provider’s stock valued at $5,352,000 after purchasing an additional 57,763 shares during the period. Finally, Pacific Ridge Capital Partners LLC increased its holdings in shares of Bank of Commerce by 1.5% in the second quarter. Pacific Ridge Capital Partners LLC now owns 452,270 shares of the financial services provider’s stock valued at $4,835,000 after purchasing an additional 6,524 shares during the period. Institutional investors and hedge funds own 48.94% of the company’s stock.

Shares of BOCH traded down $0.04 during midday trading on Wednesday, hitting $10.07. The company had a trading volume of 3,422 shares, compared to its average volume of 26,439. The company has a 50-day moving average price of $10.56. 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 firm has a market capitalization of $185.78 million, a price-to-earnings ratio of 11.57, a P/E/G ratio of 1.77 and a beta of 0.59. Bank of Commerce has a 1 year low of $8.40 and a 1 year high of $13.20.

A number of analysts have issued reports on BOCH shares. Zacks Investment Research raised Bank of Commerce from a “sell” rating to a “hold” rating in a research note on Tuesday, August 6th. TheStreet downgraded Bank of Commerce from a “b” rating to a “f” rating in a research note on Monday, July 22nd.

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.

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