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CGC   30.86 (-0.99%)
GE   14.17 (+4.19%)
MU   85.05 (-4.36%)
NIO   35.21 (-7.61%)
AMD   73.96 (-5.81%)
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QQQ   299.94 (-2.83%)
AAPL   116.36 (-4.17%)
MSFT   227.39 (-1.82%)
FB   255.31 (-3.39%)
GOOGL   2,007.50 (-4.27%)
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AMZN   2,951.95 (-1.62%)
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GE   14.17 (+4.19%)
MU   85.05 (-4.36%)
NIO   35.21 (-7.61%)
AMD   73.96 (-5.81%)
T   29.99 (+1.25%)
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Bank of Commerce (NASDAQ:BOCH) Upgraded to "Strong-Buy" at Zacks Investment Research

Tuesday, February 23, 2021 | MarketBeat

Bank of Commerce (NASDAQ:BOCH) was upgraded by Zacks Investment Research from a "hold" rating to a "strong-buy" rating in a note issued to investors on Tuesday, Zacks.com reports. The firm presently has a $12.00 price target on the financial services provider's stock. Zacks Investment Research's target price would suggest a potential upside of 14.94% from the stock's previous close.

According to Zacks, "Bank of Commerce Holdings is a financial service holding company that owns Redding Bank of Commerce, Roseville Bank of Commerce, a division of Redding Bank of Commerce and Bank of Commerce Mortgage, an affiliate of Redding Bank of Commerce and Roseville Bank of Commerce. "

Separately, Raymond James increased their price target on shares of Bank of Commerce from $10.50 to $11.50 and gave the company an "outperform" rating in a report on Monday, January 25th.

Shares of Bank of Commerce stock traded down $0.06 during trading on Tuesday, reaching $10.44. 2,486 shares of the stock traded hands, compared to its average volume of 37,587. Bank of Commerce has a 52-week low of $5.68 and a 52-week high of $11.31. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.87 and a quick ratio of 0.87. The business has a fifty day simple moving average of $10.41 and a two-hundred day simple moving average of $8.87. The company has a market capitalization of $175.26 million, a price-to-earnings ratio of 13.38 and a beta of 0.72.

Bank of Commerce (NASDAQ:BOCH) last posted its earnings results on Thursday, January 21st. The financial services provider reported $0.30 earnings per share for the quarter, beating analysts' consensus estimates of $0.28 by $0.02. Bank of Commerce had a net margin of 21.22% and a return on equity of 8.53%. On average, research analysts predict that Bank of Commerce will post 0.88 earnings per share for the current fiscal year.

In related news, Director Lyle L. Tullis purchased 15,000 shares of the firm's stock in a transaction that occurred on Tuesday, January 26th. The shares were bought at an average price of $10.57 per share, for a total transaction of $158,550.00. Following the acquisition, the director now owns 325,365 shares of the company's stock, valued at approximately $3,439,108.05. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 5.88% of the company's stock.

Large investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company raised its position in Bank of Commerce by 12.7% in the 4th quarter. The Manufacturers Life Insurance Company now owns 485,196 shares of the financial services provider's stock worth $4,803,000 after purchasing an additional 54,836 shares during the period. Sittner & Nelson LLC purchased a new position in Bank of Commerce during the 4th quarter valued at $525,000. BlackRock Inc. grew its position in Bank of Commerce by 5.0% in the 4th quarter. BlackRock Inc. now owns 1,063,094 shares of the financial services provider's stock valued at $10,524,000 after acquiring an additional 50,957 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Bank of Commerce by 91.4% in the fourth quarter. JPMorgan Chase & Co. now owns 65,329 shares of the financial services provider's stock worth $648,000 after purchasing an additional 31,195 shares during the period. Finally, Marshall Wace LLP lifted its position in shares of Bank of Commerce by 443.1% during the first 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. Institutional investors own 52.66% of the company's stock.

Bank of Commerce Company Profile

Bank of Commerce Holdings operates as the bank holding company for Merchants Bank of Commerce that provides a range of financial services and products for small to medium-sized businesses, and retail customers in California. The company accepts various deposit products, such as checking, interest bearing checking, money market, and savings accounts, as well as certificates of deposit.

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7 Stocks to Watch When Student Debt Forgiveness Gets Passed

Now that the Biden administration is fully in charge, student debt forgiveness has moved to the front burner. Consider these numbers. There is an estimated $1.7 trillion in student debt. The average student carries approximately $30,000 in student loans.

If $10,000 of student debt were to be canceled, there are estimates that one-third of borrowers (between 15 million to 16.3 million) would become debt-free. Of course, if the number hits $50,000 as some lawmakers are suggesting the impact would even greater.

Putting aside personal thoughts on the wisdom of pursuing this path, it has the potential to unleash a substantial stimulus into the economy.

And as an investor, it’s fair to ask where that money would go. After all, there’s no harm in having investors profit from this stimulus as well.

A counter-argument is that the absence of one monthly payment may not provide enough money to make an impact. However, Senator Elizabeth Warren referred to the effect student loans have in preventing many in the millennial and Gen-Z generations from pursuing big picture life goals such as buying a house, starting a business, or starting a family.

With that in mind, we’ve put together this special presentation that looks at 7 stocks that are likely to benefit if borrowers are set free from the burden of student loans.

View the "7 Stocks to Watch When Student Debt Forgiveness Gets Passed".

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