Bank of Commerce Holdings (NASDAQ:BOCH) Announces Quarterly Dividend of $0.05

Bank of Commerce Holdings (NASDAQ:BOCH) announced a quarterly dividend on Wednesday, June 17th, Zacks reports. Shareholders of record on Tuesday, June 30th will be paid a dividend of 0.05 per share by the financial services provider on Friday, July 10th. This represents a $0.20 annualized dividend and a yield of 2.80%. The ex-dividend date of this dividend is Monday, June 29th.

Bank of Commerce has decreased its dividend by an average of 5.0% per year over the last three years and has increased its dividend every year for the last 2 years. Bank of Commerce has a dividend payout ratio of 29.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Bank of Commerce to earn $0.66 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 30.3%.

Shares of NASDAQ BOCH opened at $7.14 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $119.52 million, a PE ratio of 8.81 and a beta of 0.71. The stock’s fifty day simple moving average is $7.42 and its two-hundred day simple moving average is $9.20. Bank of Commerce has a 12-month low of $5.68 and a 12-month high of $12.31.

Bank of Commerce (NASDAQ:BOCH) last announced its earnings results on Friday, April 17th. The financial services provider reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.11). The company had revenue of $13.88 million for the quarter, compared to the consensus estimate of $13.90 million. Bank of Commerce had a net margin of 21.37% and a return on equity of 8.63%. On average, equities analysts predict that Bank of Commerce will post 0.75 earnings per share for the current fiscal year.

A number of research firms have recently weighed in on BOCH. TheStreet cut Bank of Commerce from a “b-” rating to a “c+” rating in a research report on Tuesday, March 17th. ValuEngine cut Bank of Commerce from a “hold” rating to a “sell” rating in a research report on Thursday, April 2nd. Finally, Zacks Investment Research raised Bank of Commerce from a “sell” rating to a “buy” rating and set a $8.25 price target for the company in a research report on Monday, June 22nd.

In related news, Director Joseph Gibson acquired 10,000 shares of Bank of Commerce stock in a transaction on Tuesday, April 21st. The stock was acquired at an average price of $6.58 per share, for a total transaction of $65,800.00. Following the purchase, the director now owns 300,365 shares of the company’s stock, valued at approximately $1,976,401.70. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Karl L. Silberstein acquired 4,000 shares of Bank of Commerce stock in a transaction on Monday, May 4th. The shares were bought at an average price of $7.43 per share, with a total value of $29,720.00. Following the purchase, the director now directly owns 13,795 shares in the company, valued at approximately $102,496.85. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 40,000 shares of company stock valued at $282,095. 5.88% of the stock is currently owned by insiders.

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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Dividend History for Bank of Commerce (NASDAQ:BOCH)

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