National Commerce (NCOM) Downgraded to “Sell” at BidaskClub

BidaskClub lowered shares of National Commerce (NASDAQ:NCOM) from a hold rating to a sell rating in a research report sent to investors on Tuesday morning.

Other equities research analysts have also issued reports about the stock. Zacks Investment Research raised shares of National Commerce from a hold rating to a buy rating and set a $46.00 target price on the stock in a report on Wednesday, September 27th. Keefe, Bruyette & Woods restated a hold rating and issued a $43.00 price target on shares of National Commerce in a research report on Thursday, October 26th. Finally, Stephens set a $41.00 price target on shares of National Commerce and gave the stock a hold rating in a research report on Thursday, August 17th. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus target price of $43.75.

National Commerce (NCOM) traded up $1.40 on Tuesday, reaching $41.50. 136,768 shares of the company’s stock were exchanged, compared to its average volume of 38,847. National Commerce has a 52-week low of $35.00 and a 52-week high of $43.80. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.06. The company has a market cap of $634.96 and a price-to-earnings ratio of 21.91.

Several hedge funds and other institutional investors have recently modified their holdings of NCOM. Goldman Sachs Group Inc. acquired a new position in shares of National Commerce in the 2nd quarter worth approximately $9,709,000. Banc Funds Co. LLC lifted its position in shares of National Commerce by 37.5% in the 2nd quarter. Banc Funds Co. LLC now owns 385,351 shares of the financial services provider’s stock worth $15,241,000 after purchasing an additional 105,000 shares during the period. The Manufacturers Life Insurance Company lifted its position in shares of National Commerce by 56.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 220,139 shares of the financial services provider’s stock worth $8,706,000 after purchasing an additional 79,810 shares during the period. Vanguard Group Inc. lifted its position in shares of National Commerce by 22.7% in the 2nd quarter. Vanguard Group Inc. now owns 423,100 shares of the financial services provider’s stock worth $16,733,000 after purchasing an additional 78,261 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in shares of National Commerce by 60.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 129,580 shares of the financial services provider’s stock worth $5,546,000 after purchasing an additional 48,888 shares during the period. Hedge funds and other institutional investors own 47.94% of the company’s stock.

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About National Commerce

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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