Bank of Commerce (NASDAQ:BOCH) Issues Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Bank of Commerce (NASDAQ:BOCH) released its quarterly earnings results on Friday. The financial services provider reported $0.26 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.02, Bloomberg Earnings reports. The business had revenue of $14.73 million during the quarter, compared to the consensus estimate of $14.80 million. Bank of Commerce had a return on equity of 10.16% and a net margin of 24.31%.

BOCH opened at $10.96 on Friday. The business has a fifty day simple moving average of $10.64 and a 200 day simple moving average of $10.57. The company has a market capitalization of $199.81 million, a PE ratio of 12.60 and a beta of 0.65. Bank of Commerce has a 1 year low of $9.63 and a 1 year high of $12.83. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.86 and a quick ratio of 0.86.

The company also recently declared a — dividend, which was paid on Friday, October 11th. Investors of record on Tuesday, October 1st were paid a $0.05 dividend. The ex-dividend date was Monday, September 30th. This represents a yield of 1.8%. Bank of Commerce’s dividend payout ratio (DPR) is presently 22.99%.

Several analysts recently issued reports on BOCH shares. ValuEngine upgraded Bank of Commerce from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Zacks Investment Research downgraded Bank of Commerce from a “hold” rating to a “sell” rating in a research note on Friday. TheStreet upgraded Bank of Commerce from a “f” rating to a “b” rating in a research note on Wednesday, September 18th. Finally, Raymond James reduced their price target on Bank of Commerce from $12.00 to $11.50 and set an “outperform” rating for the company in a research note on Thursday, August 29th.

In related news, Director Joseph Gibson acquired 5,000 shares of the company’s stock in a transaction on Monday, August 12th. The stock was purchased at an average cost of $10.15 per share, with a total value of $50,750.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Karl L. Silberstein acquired 4,000 shares of the company’s stock in a transaction on Tuesday, July 23rd. The stock was bought at an average cost of $10.60 per share, with a total value of $42,400.00. Following the completion of the acquisition, the director now directly owns 11,795 shares in the company, valued at $125,027. The disclosure for this purchase can be found here. Insiders purchased a total of 13,000 shares of company stock valued at $133,150 over the last 90 days. 5.67% of the stock is currently owned by corporate insiders.

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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Earnings History for Bank of Commerce (NASDAQ:BOCH)

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