American International Group Inc. boosted its stake in National Commerce Corporation (NASDAQ:NCOM) by 7.1% during the first quarter, according to its most recent filing with the SEC. The fund owned 5,207 shares of the financial services provider’s stock after buying an additional 344 shares during the period. American International Group Inc.’s holdings in National Commerce Corporation were worth $191,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. SG Americas Securities LLC purchased a new position in shares of National Commerce Corporation during the first quarter valued at about $108,000. Stifel Financial Corp boosted its position in shares of National Commerce Corporation by 3.6% in the first quarter. Stifel Financial Corp now owns 50,286 shares of the financial services provider’s stock valued at $1,840,000 after buying an additional 1,745 shares during the period. Ronald Blue & Co. LLC purchased a new position in shares of National Commerce Corporation during the first quarter valued at about $262,000. Raymond James Financial Services Advisors Inc. purchased a new position in shares of National Commerce Corporation during the first quarter valued at about $432,000. Finally, Martingale Asset Management L P boosted its position in shares of National Commerce Corporation by 41.7% in the first quarter. Martingale Asset Management L P now owns 57,122 shares of the financial services provider’s stock valued at $2,091,000 after buying an additional 16,807 shares during the period. Hedge funds and other institutional investors own 37.40% of the company’s stock.
Shares of National Commerce Corporation (NASDAQ:NCOM) traded down 0.50% during midday trading on Friday, reaching $39.60. The company’s stock had a trading volume of 30,861 shares. National Commerce Corporation has a 52-week low of $25.56 and a 52-week high of $41.25. The stock has a 50 day moving average price of $39.86 and a 200-day moving average price of $38.21. The company has a market capitalization of $557.17 million, a price-to-earnings ratio of 22.07 and a beta of 1.07.
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Several equities analysts recently issued reports on the company. Zacks Investment Research upgraded National Commerce Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, August 3rd. ValuEngine cut National Commerce Corporation from a “buy” rating to a “hold” rating in a research note on Saturday, July 8th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $38.00 target price on shares of National Commerce Corporation in a research report on Friday, May 12th. FBR & Co increased their target price on National Commerce Corporation from $39.00 to $45.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 26th. Finally, Stephens reaffirmed a “hold” rating on shares of National Commerce Corporation in a research report on Tuesday, April 25th. Seven research analysts have rated the stock with a hold rating, The company has an average rating of “Hold” and an average target price of $38.33.
About National Commerce Corporation
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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