BOCH

Bank of Commerce HoldingsNasdaqGM:BOCH Stock Report

Market Cap

US$227.3m

7D

3.4%

1Y

105.3%

Updated

22 Sep, 2021

Data

Company Financials +
BOCH fundamental analysis
Snowflake Score
Valuation3/6
Future Growth0/6
Past Performance4/6
Financial Health6/6
Dividends5/6

BOCH Overview

Bank of Commerce Holdings operates as the bank holding company for Merchants Bank of Commerce, a chartered commercial bank that provides a range of financial services and products for small to medium-sized businesses, and retail customers.

Bank of Commerce Holdings Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Bank of Commerce Holdings
Historical stock prices
Current Share PriceUS$13.57
52 Week HighUS$6.52
52 Week LowUS$15.38
Beta0.70
1 Month Change-5.30%
3 Month Change-9.83%
1 Year Change105.30%
3 Year Change9.00%
5 Year Change89.00%
Change since IPO179.88%

Recent News & Updates

Shareholder Returns

BOCHUS BanksUS Market
7D3.4%-1.0%-1.7%
1Y105.3%75.2%36.2%

Return vs Industry: BOCH exceeded the US Banks industry which returned 67.8% over the past year.

Return vs Market: BOCH exceeded the US Market which returned 31.5% over the past year.

Price Volatility

Is BOCH's price volatile compared to industry and market?
BOCH volatility
BOCH Beta0.70
Industry Beta1.37
Market Beta1

Stable Share Price: BOCH is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 4% a week.

Volatility Over Time: BOCH's weekly volatility (4%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
1982206Randy Eslickhttps://www.bankofcommerceholdings.com

Bank of Commerce Holdings operates as the bank holding company for Merchants Bank of Commerce, a chartered commercial bank that provides a range of financial services and products for small to medium-sized businesses, and retail customers. The company accepts various deposit products, such as checking, interest-bearing checking, money market, and savings accounts, as well as certificates of deposit. Its loan products include commercial, commercial real estate, residential real estate, consumer, construction, term, and small business administration loans.

Bank of Commerce Holdings Fundamentals Summary

How do Bank of Commerce Holdings's earnings and revenue compare to its market cap?
BOCH fundamental statistics
Market CapUS$227.27m
Earnings (TTM)US$18.46m
Revenue (TTM)US$60.25m

12.3x

P/E Ratio

1.2x

P/B Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
BOCH income statement (TTM)
RevenueUS$60.25m
Cost of RevenueUS$0
Gross ProfitUS$60.25m
ExpensesUS$41.79m
EarningsUS$18.46m

Last Reported Earnings

Jun 30, 2021

Next Earnings Date

n/a

Earnings per share (EPS)1.11
Gross Margin100.00%
Net Profit Margin30.64%
Debt/Equity Ratio11.2%

How did BOCH perform over the long term?

See historical performance and comparison

Dividends

1.8%

Current Dividend Yield

21%

Payout Ratio

Valuation

Is Bank of Commerce Holdings undervalued compared to its fair value and its price relative to the market?

35.2%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: BOCH ($13.57) is trading below our estimate of fair value ($20.95)

Significantly Below Fair Value: BOCH is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: BOCH is poor value based on its PE Ratio (12.3x) compared to the US Banks industry average (10.6x).

PE vs Market: BOCH is good value based on its PE Ratio (12.3x) compared to the US market (17.5x).


Price to Earnings Growth Ratio

PEG Ratio: BOCH is poor value based on its PEG Ratio (78.3x)


Price to Book Ratio

PB vs Industry: BOCH is overvalued based on its PB Ratio (1.2x) compared to the US Banks industry average (1.1x).


Future Growth

How is Bank of Commerce Holdings forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

0.2%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: BOCH's forecast earnings growth (0.2% per year) is below the savings rate (2%).

Earnings vs Market: BOCH's earnings (0.2% per year) are forecast to grow slower than the US market (14.9% per year).

High Growth Earnings: BOCH's earnings are forecast to grow, but not significantly.

Revenue vs Market: BOCH's revenue (0.1% per year) is forecast to grow slower than the US market (9.8% per year).

High Growth Revenue: BOCH's revenue (0.1% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: BOCH's Return on Equity is forecast to be low in 3 years time (8.8%).


Past Performance

How has Bank of Commerce Holdings performed over the past 5 years?

21.2%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: BOCH has high quality earnings.

Growing Profit Margin: BOCH's current net profit margins (30.6%) are higher than last year (25.7%).


Past Earnings Growth Analysis

Earnings Trend: BOCH's earnings have grown significantly by 21.2% per year over the past 5 years.

Accelerating Growth: BOCH's earnings growth over the past year (34%) exceeds its 5-year average (21.2% per year).

Earnings vs Industry: BOCH earnings growth over the past year (34%) underperformed the Banks industry 36%.


Return on Equity

High ROE: BOCH's Return on Equity (10.1%) is considered low.


Financial Health

How is Bank of Commerce Holdings's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet


Financial Institutions Analysis

Asset Level: BOCH's Assets to Equity ratio (10.5x) is moderate.

Allowance for Bad Loans: BOCH has a sufficient allowance for bad loans (451%).

Low Risk Liabilities: 98% of BOCH's liabilities are made up of primarily low risk sources of funding.

Loan Level: BOCH has an appropriate level of Loans to Assets ratio (56%).

Low Risk Deposits: BOCH's Loans to Deposits ratio (63%) is appropriate.

Level of Bad Loans: BOCH has an appropriate level of bad loans (0.3%).


Dividend

What is Bank of Commerce Holdings's current dividend yield, its reliability and sustainability?

1.77%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: BOCH's dividend (1.77%) is higher than the bottom 25% of dividend payers in the US market (1.37%).

High Dividend: BOCH's dividend (1.77%) is low compared to the top 25% of dividend payers in the US market (3.67%).


Stability and Growth of Payments

Stable Dividend: BOCH's dividends per share have been stable in the past 10 years.

Growing Dividend: BOCH's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its low payout ratio (20.8%), BOCH's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: BOCH's dividends in 3 years are forecast to be well covered by earnings (27.4% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

5.3yrs

Average management tenure


CEO

Randy Eslick (64 yo)

7.83yrs

Tenure

US$827,554

Compensation

Mr. Randall S. Eslick, also known as Randy, has served as President and Chief Executive Officer of the Bank of Commerce Holdings (“Company”) and Merchants Bank of Commerce since November 20, 2013. As the C...


CEO Compensation Analysis

Compensation vs Market: Randy's total compensation ($USD827.55K) is about average for companies of similar size in the US market ($USD1.09M).

Compensation vs Earnings: Randy's compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: BOCH's management team is seasoned and experienced (5.3 years average tenure).


Board Members

Experienced Board: BOCH's board of directors are considered experienced (8.1 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Bank of Commerce Holdings's employee growth, exchange listings and data sources


Key Information

  • Name: Bank of Commerce Holdings
  • Ticker: BOCH
  • Exchange: NasdaqGM
  • Founded: 1982
  • Industry: Regional Banks
  • Sector: Banks
  • Market Cap: US$227.272m
  • Shares outstanding: 16.75m
  • Website: https://www.bankofcommerceholdings.com

Number of Employees


Location

  • Bank of Commerce Holdings
  • 555 Capitol Mall
  • Suite 1255
  • Sacramento
  • California
  • 95814
  • United States

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/09/22 22:38
End of Day Share Price2021/09/22 00:00
Earnings2021/06/30
Annual Earnings2020/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.