Is Bank of Commerce Holdings (BOCH)’s Fuel Running High? The Stock Formed Multiple Top Chart Pattern

October 2, 2018 - By Nellie Frank

Investors sentiment increased to 1.67 in 2018 Q2. Its up 0.60, from 1.07 in 2018Q1. It increased, as 3 investors sold Bank of Commerce Holdings shares while 15 reduced holdings. 10 funds opened positions while 20 raised stakes. 8.87 million shares or 2.00% more from 8.69 million shares in 2018Q1 were reported.
Emerald Mutual Fund Advisers Tru invested in 0.2% or 424,577 shares. Blackrock Inc reported 826,305 shares. Royal Bancorp Of Canada, a Ontario – Canada-based fund reported 4,878 shares. 10,387 are owned by Hanson Mcclain. Morgan Stanley holds 0% or 47,451 shares. Int Grp Inc stated it has 0% in Bank of Commerce Holdings (NASDAQ:BOCH). Martingale Asset Lp holds 0% of its portfolio in Bank of Commerce Holdings (NASDAQ:BOCH) for 30,410 shares. Acadian Asset Management Ltd Liability Company stated it has 0% in Bank of Commerce Holdings (NASDAQ:BOCH). The New York-based Salzhauer Michael has invested 0.1% in Bank of Commerce Holdings (NASDAQ:BOCH). State Street reported 240,903 shares stake. Raymond James And Assoc reported 0% in Bank of Commerce Holdings (NASDAQ:BOCH). Natl Bank Of Montreal Can accumulated 109 shares or 0% of the stock. Rhumbline Advisers holds 0% or 14,275 shares in its portfolio. First Advisors Limited Partnership has 0% invested in Bank of Commerce Holdings (NASDAQ:BOCH). Retail Bank Of Mellon, a New York-based fund reported 73,846 shares.

Since May 1, 2018, it had 1 insider buy, and 0 insider sales for $48,103 activity.

The stock of Bank of Commerce Holdings (BOCH) shows a multiple tops pattern with $12.73 target or 6.00 % above today’s $12.01 share price. The 5 months chart pattern indicates low risk for the $195.90M company. It was reported on Oct, 2 by Finviz.com. If the $12.73 price target is reached, the company will be worth $11.75M more.
Multiple tops are chart patterns with decent performance in a bull market. The failure rate is higher but the average decline is reasonable. Back-tests of such patterns show that the break even failure rate is 10%, the average rise: 19%, the throwback rate: 61% and the percentage of stocks meeting their price targets: 40%.

The stock increased 1.22% or $0.15 during the last trading session, reaching $12.01. About 2,381 shares traded. Bank of Commerce Holdings (NASDAQ:BOCH) has risen 25.48% since October 2, 2017 and is uptrending. It has outperformed by 9.86% the S&P500.

Analysts await Bank of Commerce Holdings (NASDAQ:BOCH) to report earnings on October, 19. They expect $0.22 EPS, up 22.22 % or $0.04 from last year’s $0.18 per share. BOCH’s profit will be $3.59 million for 13.65 P/E if the $0.22 EPS becomes a reality. After $0.22 actual EPS reported by Bank of Commerce Holdings for the previous quarter, Wall Street now forecasts 0.00 % EPS growth.

Another recent and important Bank of Commerce Holdings (NASDAQ:BOCH) news was published by Nasdaq.com which published an article titled: “Bank of Commerce Holdings Announces Third Quarter Cash Dividend of $0.04 per Share” on September 19, 2018.

Bank of Commerce Holdings operates as the bank holding firm for Redding Bank of Commerce that provides a range of financial services and products for retail clients and small to medium sized businesses in California. The company has market cap of $195.90 million. The company's deposit products include checking, interest-bearing checking, money market, and savings accounts, as well as certificates of deposit. It has a 20.04 P/E ratio. The firm also offers commercial loans, commercial real estate loans, residential mortgages, consumer loans, construction loans, term loans, small business administration loans, and home equity loans.

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