National Commerce Corporation (NCOM) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of National Commerce Corporation (NASDAQ:NCOM) from a hold rating to a sell rating in a research report sent to investors on Saturday morning.

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. “

NCOM has been the subject of several other research reports. BidaskClub downgraded National Commerce Corporation from a hold rating to a sell rating in a report on Friday, August 18th. ValuEngine downgraded National Commerce Corporation from a buy rating to a hold rating in a report on Saturday, July 8th. Keefe, Bruyette & Woods reissued a hold rating and issued a $43.00 price target on shares of National Commerce Corporation in a report on Thursday, October 26th. Finally, Stephens set a $41.00 price target on National Commerce Corporation and gave the stock a hold rating in a report on Thursday, August 17th. One equities research analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $43.75.

National Commerce Corporation (NASDAQ NCOM) opened at 41.05 on Friday. The company has a market cap of $577.57 million, a PE ratio of 22.88 and a beta of 1.09. The firm’s 50-day moving average is $41.87 and its 200 day moving average is $39.80. National Commerce Corporation has a 1-year low of $26.69 and a 1-year high of $43.80.

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In other news, Director Russell H. Iv Vandevelde bought 1,767 shares of the firm’s stock in a transaction that occurred on Monday, August 21st. The stock was purchased at an average price of $38.86 per share, with a total value of $68,665.62. Following the completion of the acquisition, the director now directly owns 98,333 shares of the company’s stock, valued at approximately $3,821,220.38. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 19.40% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the stock. Legal & General Group Plc lifted its holdings in shares of National Commerce Corporation by 12.0% during the second quarter. Legal & General Group Plc now owns 2,754 shares of the financial services provider’s stock worth $109,000 after purchasing an additional 296 shares during the period. Homrich & Berg lifted its holdings in shares of National Commerce Corporation by 4.6% during the second quarter. Homrich & Berg now owns 6,738 shares of the financial services provider’s stock worth $266,000 after purchasing an additional 299 shares during the period. American International Group Inc. lifted its holdings in shares of National Commerce Corporation by 7.1% during the first quarter. American International Group Inc. now owns 5,207 shares of the financial services provider’s stock worth $191,000 after purchasing an additional 344 shares during the period. Nationwide Fund Advisors lifted its holdings in shares of National Commerce Corporation by 7.1% during the second quarter. Nationwide Fund Advisors now owns 11,655 shares of the financial services provider’s stock worth $461,000 after purchasing an additional 777 shares during the period. Finally, Rhumbline Advisers lifted its holdings in shares of National Commerce Corporation by 13.4% during the second quarter. Rhumbline Advisers now owns 9,971 shares of the financial services provider’s stock worth $394,000 after purchasing an additional 1,182 shares during the period. 46.77% of the stock is owned by hedge funds and other institutional investors.

National Commerce Corporation 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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