Zacks Investment Research upgraded shares of National Commerce Corp. (NASDAQ:NCOM) from a hold rating to a buy rating in a report published on Wednesday. Zacks Investment Research currently has $30.00 price target on the financial services provider’s stock.
According to Zacks, “National Commerce Corporation is a bank holding company. It offers services which include demand deposits, interest-bearing transaction accounts, money market accounts, savings deposits, certificates of deposit, commercial real estate term loans, residential mortgage loans, construction and land development loans, home equity lines of credit secured by residential property; commercial and industrial loans; consumer loans, factoring, invoicing, collection, accounts receivable management services to transportation companies, automotive parts and service providers. The company operates primarily in Alabama, Huntsville, Auburn-Opelika, Baldwin County and Vero Beach, Florida. National Commerce Corporation is headquartered in Birmingham, Alabama. “
Separately, FIG Partners cut National Commerce Corp. from an outperform rating to a market perform rating in a research report on Thursday, September 1st.
Shares of National Commerce Corp. (NASDAQ:NCOM) traded down 0.30% on Wednesday, reaching $26.50. The company had a trading volume of 3,163 shares. The company’s 50-day moving average price is $27.01 and its 200 day moving average price is $24.55. The firm has a market capitalization of $288.06 million, a P/E ratio of 20.62 and a beta of 1.04. National Commerce Corp. has a 52 week low of $20.50 and a 52 week high of $28.74.
National Commerce Corp. (NASDAQ:NCOM) last posted its quarterly earnings data on Tuesday, July 26th. The financial services provider reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.03. National Commerce Corp. had a return on equity of 6.45% and a net margin of 17.44%. On average, analysts expect that National Commerce Corp. will post $1.53 EPS for the current year.
Institutional investors have recently modified their holdings of the company. Stifel Financial Corp acquired a new position in shares of National Commerce Corp. during the second quarter worth about $481,000. Metropolitan Life Insurance Co. NY acquired a new position in shares of National Commerce Corp. during the second quarter worth about $160,000. Sfmg LLC acquired a new position in shares of National Commerce Corp. during the second quarter worth about $339,000. Banc Funds Co. LLC increased its position in shares of National Commerce Corp. by 2.3% in the second quarter. Banc Funds Co. LLC now owns 132,999 shares of the financial services provider’s stock worth $3,102,000 after buying an additional 3,000 shares during the period. Finally, State Street Corp increased its position in shares of National Commerce Corp. by 32.0% in the second quarter. State Street Corp now owns 78,967 shares of the financial services provider’s stock worth $1,841,000 after buying an additional 19,147 shares during the period. 36.76% of the stock is owned by institutional investors and hedge funds.
National Commerce Corp. Company Profile
National Commerce Corporation (NCC) is a financial holding company. The Company is engaged in the business of banking through its banking subsidiary, National Bank of Commerce (the Bank). The Company, through the Bank, provides a range of financial services to businesses, business owners and professionals.
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