National Commerce Corp (NCOM) Stake Raised by Bank of New York Mellon Corp

Bank of New York Mellon Corp grew its position in National Commerce Corp (NASDAQ:NCOM) by 8.0% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 67,421 shares of the financial services provider’s stock after purchasing an additional 5,006 shares during the period. Bank of New York Mellon Corp owned about 0.39% of National Commerce worth $3,121,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of the company. TD Asset Management Inc. boosted its stake in shares of National Commerce by 14.5% in the 2nd quarter. TD Asset Management Inc. now owns 9,500 shares of the financial services provider’s stock valued at $440,000 after purchasing an additional 1,200 shares in the last quarter. Barclays PLC boosted its stake in shares of National Commerce by 73.0% in the 1st quarter. Barclays PLC now owns 3,293 shares of the financial services provider’s stock valued at $143,000 after purchasing an additional 1,390 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of National Commerce by 62.5% in the 1st quarter. JPMorgan Chase & Co. now owns 4,208 shares of the financial services provider’s stock valued at $183,000 after purchasing an additional 1,619 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of National Commerce by 0.8% in the 1st quarter. The Manufacturers Life Insurance Company now owns 223,067 shares of the financial services provider’s stock valued at $9,714,000 after purchasing an additional 1,798 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of National Commerce in the 1st quarter valued at $107,000. Institutional investors own 45.42% of the company’s stock.

National Commerce stock opened at $40.52 on Monday. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.02 and a quick ratio of 1.02. National Commerce Corp has a 12-month low of $35.84 and a 12-month high of $48.60. The stock has a market capitalization of $851.74 million, a P/E ratio of 20.57 and a beta of 1.03.

National Commerce (NASDAQ:NCOM) last released its quarterly earnings results on Wednesday, July 25th. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.65 by ($0.04). National Commerce had a net margin of 18.14% and a return on equity of 7.97%. The business had revenue of $38.08 million during the quarter, compared to the consensus estimate of $38.73 million. As a group, sell-side analysts predict that National Commerce Corp will post 2.63 EPS for the current fiscal year.

A number of research firms recently issued reports on NCOM. BidaskClub cut National Commerce from a “sell” rating to a “strong sell” rating in a report on Saturday, September 29th. Zacks Investment Research raised National Commerce from a “hold” rating to a “buy” rating and set a $53.00 price target for the company in a report on Wednesday, June 27th. ValuEngine cut National Commerce from a “hold” rating to a “sell” rating in a report on Thursday, September 27th. Finally, Stephens reaffirmed a “hold” rating and issued a $48.00 price target on shares of National Commerce in a report on Thursday, July 26th. Two investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. National Commerce currently has an average rating of “Hold” and a consensus target price of $48.67.

About National Commerce

National Commerce Corporation operates as the bank holding company for National Bank of Commerce that provides various financial services to businesses, business owners, and professionals. The company offers deposit products, including interest and noninterest-bearing demand deposits, money market accounts, interest-bearing transaction accounts, savings and time deposits, checking accounts, and certificates of deposit, as well as negotiable orders of withdrawal accounts.

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Institutional Ownership by Quarter for National Commerce (NASDAQ:NCOM)

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