Zacks Investment Research Upgrades Bank of Commerce (BOCH) to Buy
Bank of Commerce (NASDAQ:BOCH) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Thursday. The firm currently has a $13.00 target price on the financial services provider’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 15.04% from the stock’s current price.
According to Zacks, “Bank of Commerce Holdings is a financial service holding company that owns Redding Bank of Commerce, Roseville Bank of Commerce, a division of Redding Bank of Commerce and Bank of Commerce Mortgage, an affiliate of Redding Bank of Commerce and Roseville Bank of Commerce. “
Bank of Commerce stock opened at $11.30 on Thursday. The stock has a market cap of $185.96, a P/E ratio of 16.84, a P/E/G ratio of 2.04 and a beta of 0.38. Bank of Commerce has a 52 week low of $9.90 and a 52 week high of $12.40. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.85 and a quick ratio of 0.85.
A number of institutional investors have recently bought and sold shares of the stock. Millennium Management LLC increased its position in Bank of Commerce by 19.2% during the 4th quarter. Millennium Management LLC now owns 45,072 shares of the financial services provider’s stock worth $518,000 after purchasing an additional 7,261 shares in the last quarter. BlackRock Inc. boosted its stake in Bank of Commerce by 1.3% in the 4th quarter. BlackRock Inc. now owns 724,864 shares of the financial services provider’s stock worth $8,337,000 after buying an additional 9,216 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Bank of Commerce in the 3rd quarter worth about $109,000. Pacific Ridge Capital Partners LLC boosted its stake in Bank of Commerce by 3.3% in the 4th quarter. Pacific Ridge Capital Partners LLC now owns 333,686 shares of the financial services provider’s stock worth $3,837,000 after buying an additional 10,810 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Bank of Commerce by 20.7% in the 4th quarter. Bank of New York Mellon Corp now owns 71,366 shares of the financial services provider’s stock worth $822,000 after buying an additional 12,256 shares during the last quarter. Hedge funds and other institutional investors own 53.32% 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.
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