Short Interest in Bank of Commerce Holdings (NASDAQ:BOCH) Drops By 7.8%

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Bank of Commerce Holdings (NASDAQ:BOCH) was the target of a large decline in short interest in the month of November. As of November 29th, there was short interest totalling 138,000 shares, a decline of 7.8% from the November 14th total of 149,600 shares. Currently, 0.8% of the company’s shares are short sold. Based on an average trading volume of 23,700 shares, the short-interest ratio is presently 5.8 days.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. raised its holdings in Bank of Commerce by 4.9% in the 2nd quarter. BlackRock Inc. now owns 1,031,438 shares of the financial services provider’s stock valued at $11,027,000 after buying an additional 48,606 shares during the period. Vanguard Group Inc. raised its holdings in Bank of Commerce by 0.6% in the 2nd quarter. Vanguard Group Inc. now owns 749,463 shares of the financial services provider’s stock valued at $8,012,000 after buying an additional 4,309 shares during the period. Pacific Ridge Capital Partners LLC grew its position in Bank of Commerce by 1.5% in the 2nd quarter. Pacific Ridge Capital Partners LLC now owns 452,270 shares of the financial services provider’s stock valued at $4,835,000 after acquiring an additional 6,524 shares in the last quarter. JCSD Capital LLC grew its position in Bank of Commerce by 3.6% in the 3rd quarter. JCSD Capital LLC now owns 299,652 shares of the financial services provider’s stock valued at $3,263,000 after acquiring an additional 10,331 shares in the last quarter. Finally, State Street Corp grew its position in Bank of Commerce by 2.2% in the 3rd quarter. State Street Corp now owns 248,593 shares of the financial services provider’s stock valued at $2,720,000 after acquiring an additional 5,462 shares in the last quarter. Hedge funds and other institutional investors own 51.04% of the company’s stock.

BOCH traded up $0.09 on Friday, hitting $12.14. The company had a trading volume of 26,433 shares, compared to its average volume of 19,303. The firm has a market cap of $220.46 million, a P/E ratio of 13.95 and a beta of 0.66. Bank of Commerce has a 1 year low of $9.51 and a 1 year high of $12.31. The company’s fifty day moving average price is $11.41 and its 200 day moving average price is $10.75. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.12.

Bank of Commerce (NASDAQ:BOCH) last issued its quarterly earnings data on Friday, October 18th. The financial services provider reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.02. The firm had revenue of $14.73 million for the quarter, compared to analyst estimates of $14.80 million. Bank of Commerce had a net margin of 24.57% and a return on equity of 9.93%. On average, analysts predict that Bank of Commerce will post 0.95 earnings per share for the current year.

Several research analysts have recently commented on BOCH shares. ValuEngine upgraded Bank of Commerce from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Raymond James lifted their price target on Bank of Commerce from $11.50 to $12.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. Zacks Investment Research lowered Bank of Commerce from a “hold” rating to a “sell” rating in a report on Friday, October 18th. Finally, TheStreet upgraded Bank of Commerce from a “f” rating to a “b” rating in a report on Wednesday, September 18th.

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. Its deposit products include checking, interest-bearing checking, money market, and savings accounts, as well as certificates of deposit.

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