Bank of Commerce Holdings (NASDAQ:BOCH) stock reported trading -47.85% off 52-week high price. On the other end, the stock has been noted 13.03% away from low price over the last 52-weeks. The stock disclosed a move of -28.38% away from 50 day moving average and -38.52% away from 200 day moving average. Moving closer, we can see that shares have been trading -8.75% off 20-day moving average. It has market cap of $104.97M and dividend yield of 3.12%.

On April 17, 2020, Bank of Commerce Holdings (NASDAQ:BOCH) a $1.456 billion asset bank holding company and parent company of Merchants Bank of Commerce (the Bank), declared financial results for the quarter ended March 31, 2020. Net income for the quarter ended March 31, 2020 was $916 thousand or $0.05 per share – diluted, compared with net income of $2.3 million or $0.13 per share – diluted for the same period of 2019.

Significant Items for the first quarter of 2020:

  • $2.9 million provision for loan and lease losses.
  • $1.1 million in non-recurring costs.
  • 1,351,922 shares of common stock repurchased.
  • Initial impact of COVID-19.

Randall S. Eslick, President and CEO commented: The current health crisis has changed our world and is impacting our company in many ways. Our employees need physical protection and work schedule flexibility, our borrowers need credit accommodation and everyone needs a little compassion. In response, we have taken many varied actions to assist borrowers, depositors, employees and our communities. Our company is stronger for these efforts and over the coming weeks and months we will continue to respond to needs and challenges as they arise.

Financial highlights for the first quarter of 2020 compared to the same quarter a year ago:

  • Net income of $916 thousand was a decrease of $1.4 million (60%) from $2.3 million earned during the same period in the prior year. Earnings of $0.05 per share – diluted was a decrease of $0.08 (62%) from $0.13 per share – diluted earned during the same period in the prior year and reflects the impact of the following:
    • $2.9 million provision for loan and lease losses for the current quarter.
    • $1.1 million in non-recurring costs for the current quarter associated with the termination of a technology management services contract and a previously announced severance agreement.
    • $1.9 million in non-recurring costs recorded during the same period a year ago associated with our January 31, 2019 acquisition of Merchants Holding Company in Sacramento (Merchants).
  • Net interest income decreased $18 thousand (less than 1%) to $13.0 million compared to $13.0 million for the same period in the prior year.
  • Net interest margin declined to 3.86% compared to 3.94% for the same period in the prior year.
  • Return on average assets decreased to 0.25% compared to 0.66% for the same period in the prior year.
  • Return on average equity decreased to 2.14% compared to 6.12% for the same period in the prior year.
  • Average loans totaled $1.034 billion, an increase of $40 million (4%) compared to average loans for the same period in the prior year.
  • Average earning assets totaled $1.353 billion, an increase of $16 million (1%) compared to average earning assets for the same period in the prior year.
  • Average deposits totaled $1.245 billion, an increase of $21 million (2%) compared to average deposits for the same period in the prior year.

The USA based company Bank of Commerce Holdings moved with change of 9.93% to $6.42 with the total traded volume of 49927 shares in recent session versus to an average volume of 73.25K shares. The stock was observed in the 5 days activity at -20.54%. The one month performance of stock was -8.55%. BOCH’s shares are at -43.39% for the quarter and driving a -42.42% return over the course of the past year and is now at -44.51% since this point in 2018.  Right now the stock beta is 0.88. The average volatility for the week and month was at 9.51% and 8.22% respectively. There are 16.35M shares outstanding and 16.24M shares are floated in market.

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