National Commerce (NCOM) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of National Commerce (NASDAQ:NCOM) from a sell rating to a hold rating in a research report report published on Wednesday morning.

According to Zacks, “National Commerce Corporation is a bank holding company. It offers services which include demand deposits, interest-bearing transaction accounts, money market accounts, savings deposits, certificates of deposit, commercial real estate term loans, residential mortgage loans, construction and land development loans, home equity lines of credit secured by residential property; commercial and industrial loans; consumer loans, factoring, invoicing, collection, accounts receivable management services to transportation companies, automotive parts and service providers. The company operates primarily in Alabama, Huntsville, Auburn-Opelika, Baldwin County and Vero Beach, Florida. National Commerce Corporation is headquartered in Birmingham, Alabama. “

Other equities research analysts have also recently issued reports about the company. ValuEngine cut National Commerce from a hold rating to a sell rating in a research note on Thursday, September 27th. Raymond James upgraded National Commerce from a market perform rating to an outperform rating and set a $41.00 target price on the stock in a research note on Thursday, October 25th. Stephens reiterated a hold rating and set a $48.00 target price on shares of National Commerce in a research note on Thursday, July 26th. Finally, BidaskClub lowered National Commerce from a buy rating to a hold rating in a report on Wednesday, August 1st. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. National Commerce currently has a consensus rating of Hold and an average price target of $44.75.

Shares of NASDAQ NCOM traded up $0.42 during mid-day trading on Wednesday, reaching $37.83. 56,706 shares of the company’s stock were exchanged, compared to its average volume of 49,766. The stock has a market capitalization of $770.70 million, a price-to-earnings ratio of 19.20 and a beta of 1.10. National Commerce has a 52 week low of $35.02 and a 52 week high of $48.60. 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 (NASDAQ:NCOM) last released its earnings results on Wednesday, October 24th. The financial services provider reported $0.59 EPS for the quarter, missing the Zacks’ consensus estimate of $0.68 by ($0.09). The business had revenue of $44.79 million for the quarter, compared to the consensus estimate of $44.05 million. National Commerce had a return on equity of 8.92% and a net margin of 19.31%. Research analysts expect that National Commerce will post 2.56 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in NCOM. MinichMacGregor Wealth Management LLC purchased a new stake in National Commerce in the 2nd quarter worth about $134,000. Barclays PLC increased its holdings in National Commerce by 73.0% in the 1st quarter. Barclays PLC now owns 3,293 shares of the financial services provider’s stock worth $143,000 after acquiring an additional 1,390 shares during the last quarter. Pinnacle Financial Partners Inc. increased its holdings in National Commerce by 688.9% in the 3rd quarter. Pinnacle Financial Partners Inc. now owns 3,550 shares of the financial services provider’s stock worth $147,000 after acquiring an additional 3,100 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in National Commerce by 62.5% in the 1st quarter. JPMorgan Chase & Co. now owns 4,208 shares of the financial services provider’s stock worth $183,000 after acquiring an additional 1,619 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY increased its holdings in National Commerce by 32.0% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 5,020 shares of the financial services provider’s stock worth $232,000 after acquiring an additional 1,217 shares during the last quarter. 45.49% of the stock is owned by institutional investors.

National Commerce Company Profile

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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