Bank of Commerce Holdings (NASDAQ:BOCH) Sees Large Decline in Short Interest

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Bank of Commerce Holdings (NASDAQ:BOCH) was the recipient of a large decline in short interest in December. As of December 31st, there was short interest totalling 138,200 shares, a decline of 9.6% from the December 15th total of 152,900 shares. Based on an average daily volume of 21,100 shares, the short-interest ratio is presently 6.5 days. Currently, 0.8% of the shares of the stock are sold short.

A number of large investors have recently bought and sold shares of BOCH. BlackRock Inc. increased its stake in Bank of Commerce by 4.9% during the 2nd quarter. BlackRock Inc. now owns 1,031,438 shares of the financial services provider’s stock worth $11,027,000 after buying an additional 48,606 shares in the last quarter. Marshall Wace LLP boosted its holdings in shares of Bank of Commerce by 443.1% during the 1st quarter. Marshall Wace LLP now owns 24,639 shares of the financial services provider’s stock worth $260,000 after purchasing an additional 20,102 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in shares of Bank of Commerce during the 2nd quarter worth approximately $164,000. Russell Investments Group Ltd. boosted its holdings in shares of Bank of Commerce by 5,263.8% during the 3rd quarter. Russell Investments Group Ltd. now owns 14,214 shares of the financial services provider’s stock worth $155,000 after purchasing an additional 13,949 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its holdings in shares of Bank of Commerce by 33.0% during the 2nd quarter. Wells Fargo & Company MN now owns 45,432 shares of the financial services provider’s stock worth $486,000 after purchasing an additional 11,278 shares during the last quarter. Institutional investors own 50.95% of the company’s stock.

BOCH has been the subject of several research reports. ValuEngine upgraded Bank of Commerce from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Zacks Investment Research lowered Bank of Commerce from a “hold” rating to a “sell” rating in a research note on Friday, October 18th. TheStreet upgraded Bank of Commerce from a “f” rating to a “b” rating in a research note on Wednesday, September 18th. Finally, Raymond James boosted their price objective on Bank of Commerce from $11.50 to $12.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd.

NASDAQ:BOCH opened at $11.26 on Tuesday. Bank of Commerce has a 12 month low of $9.51 and a 12 month high of $12.31. The stock has a 50 day moving average of $11.57 and a two-hundred day moving average of $10.92. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.12. The firm has a market cap of $203.35 million, a P/E ratio of 12.94 and a beta of 0.66.

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

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.05 per share. The ex-dividend date was Monday, December 30th. This represents a $0.20 annualized dividend and a yield of 1.78%. Bank of Commerce’s dividend payout ratio (DPR) is currently 22.99%.

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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