Bank of Commerce Holdings (NASDAQ: BOCH) stock observed trading -20.33% off 52-week high price. On the other end, the stock has been noted 25.24% away from low price over the last 52-weeks. The stock disclosed a move of -0.06% away from 50 day moving average and -5.12% away from 200 day moving average. Moving closer, we can see that shares have been trading -0.42% off 20-day moving average. It has market cap of $190.31M and dividend yield of 1.90%.
Bank of Commerce Holdings (NASDAQ: BOCH) (the “Company”), a $1.442 billion asset bank holding company and parent company of Merchants Bank of Commerce (the “Bank”), announced financial results for the quarter ended June 30, 2019. Net income for the quarter ended June 30, 2019 was $3.6 million or $0.20 per share – diluted, compared with net income of $3.6 million or $0.22 per share – diluted for the same period of 2018. Net income for the six months ended June 30, 2019 was $6.0 million or $0.33 per share – diluted, compared with net income of $6.9 million or $0.42 per share – diluted for the same period of 2018.
The current year includes the benefits of our January 31, 2019 acquisition of Merchants National Bank of Sacramento (“Merchants”). In May, we successfully converted all of Merchant’s computer records onto our core system. As previously announced, the Company’s subsidiary bank, which had been operating under multiple names, simultaneously changed the name for all locations to Merchants Bank of Commerce. To date, acquisition related costs have totaled $2.3 million and costs related to the name change have totaled $464 thousand. All significant costs for these two projects have now been absorbed.
Randall S. Eslick, President and CEO commented: “I am very pleased with our second quarter accomplishments which are the result of the hard work of our dedicated and talented employees. The changes made during the second quarter reflect the continued execution of our strategic plan. I am particularly excited that with the successful integration of Merchant’s data systems along with our name change, we now operate our bank under one name and one computer system. These changes will lead to greater efficiencies and reinforce a consistent message throughout our company.”
The USA based company Bank of Commerce Holdings moved with change of 0.29% to $10.52 with the total traded volume of 13250 shares in recent session versus to an average volume of 26.73K. The stock was observed in the 5 days activity at -0.47%. The one month performance of stock was -1.50%. BOCH’s shares are at -5.65% for the quarter and driving a -15.16% return over the course of the past year and is now at -4.01% since this point in 2018. Right now the stock beta is 0.59. The average volatility for the week and month was at 1.17% and 1.55% respectively. There are 18.09M shares outstanding and 17.21M shares are floated in market.
Category - Market Movers
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