Wall Street analysts expect that Bank of Commerce Holdings (NASDAQ:BOCH) will post $0.26 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Bank of Commerce’s earnings. Bank of Commerce posted earnings per share of $0.20 in the same quarter last year, which would indicate a positive year over year growth rate of 30%. The business is expected to issue its next earnings report on Friday, April 19th.
On average, analysts expect that Bank of Commerce will report full year earnings of $1.07 per share for the current fiscal year, with EPS estimates ranging from $1.05 to $1.09. For the next fiscal year, analysts forecast that the company will report earnings of $1.15 per share, with EPS estimates ranging from $1.10 to $1.20. Zacks Investment Research’s EPS averages are an average based on a survey of research firms that that provide coverage for Bank of Commerce.
Bank of Commerce (NASDAQ:BOCH) last announced its quarterly earnings results on Friday, January 18th. The financial services provider reported $0.21 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.24 by ($0.03). Bank of Commerce had a return on equity of 10.78% and a net margin of 27.73%. The firm had revenue of $13.63 million for the quarter, compared to analysts’ expectations of $13.26 million.
A number of research firms have recently commented on BOCH. Zacks Investment Research upgraded Bank of Commerce from a “sell” rating to a “hold” rating in a report on Wednesday, March 13th. ValuEngine cut shares of Bank of Commerce from a “hold” rating to a “sell” rating in a research report on Tuesday, March 5th.
Shares of Bank of Commerce stock traded up $0.06 during trading on Friday, hitting $11.09. 200 shares of the company were exchanged, 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 company has a market capitalization of $200.84 million, a P/E ratio of 12.75, a P/E/G ratio of 1.48 and a beta of 0.57. Bank of Commerce has a fifty-two week low of $8.40 and a fifty-two week high of $13.20.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 18th. Investors of record on Tuesday, April 9th will be given a dividend of $0.04 per share. The ex-dividend date is Monday, April 8th. This represents a $0.16 dividend on an annualized basis and a yield of 1.44%. Bank of Commerce’s dividend payout ratio (DPR) is 18.39%.
In other news, Director Karl L. Silberstein acquired 3,000 shares of the firm’s stock in a transaction on Friday, March 8th. The stock was bought at an average cost of $10.80 per share, with a total value of $32,400.00. Following the transaction, the director now directly owns 6,500 shares in the company, valued at approximately $70,200. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 6.41% of the company’s stock.
Institutional investors have recently modified their holdings of the company. BlackRock Inc. increased its stake in shares of Bank of Commerce by 10.3% in the fourth quarter. BlackRock Inc. now owns 961,059 shares of the financial services provider’s stock valued at $10,532,000 after purchasing an additional 89,526 shares during the period. Panagora Asset Management Inc. lifted its position in Bank of Commerce by 390.7% in the 3rd quarter. Panagora Asset Management Inc. now owns 76,867 shares of the financial services provider’s stock worth $938,000 after buying an additional 61,201 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Bank of Commerce by 13.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 488,309 shares of the financial services provider’s stock worth $5,352,000 after buying an additional 57,763 shares in the last quarter. Martingale Asset Management L P lifted its position in Bank of Commerce by 137.2% in the 4th quarter. Martingale Asset Management L P now owns 92,534 shares of the financial services provider’s stock worth $1,015,000 after buying an additional 53,519 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position in Bank of Commerce by 38.8% in the 3rd quarter. Renaissance Technologies LLC now owns 147,700 shares of the financial services provider’s stock worth $1,802,000 after buying an additional 41,318 shares in the last quarter. Institutional investors and hedge funds own 50.01% of the company’s stock.
About Bank of Commerce
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.
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