Wall Street analysts forecast that National Commerce (NASDAQ:NCOM) will announce sales of $37.66 million for the current quarter, Zacks reports. Two analysts have issued estimates for National Commerce’s earnings. The lowest sales estimate is $37.39 million and the highest is $37.93 million. National Commerce reported sales of $27.87 million during the same quarter last year, which indicates a positive year-over-year growth rate of 35.1%. The firm is scheduled to announce its next quarterly earnings report on Monday, April 23rd.
According to Zacks, analysts expect that National Commerce will report full-year sales of $37.66 million for the current fiscal year, with estimates ranging from $157.36 million to $157.92 million. For the next fiscal year, analysts forecast that the firm will post sales of $172.65 million per share, with estimates ranging from $171.92 million to $173.38 million. Zacks’ sales averages are an average based on a survey of research firms that cover National Commerce.
National Commerce (NASDAQ:NCOM) last announced its quarterly earnings results on Wednesday, January 24th. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.05. National Commerce had a return on equity of 7.32% and a net margin of 15.46%. The company had revenue of $32.27 million during the quarter, compared to the consensus estimate of $31.50 million.
A number of brokerages have issued reports on NCOM. Zacks Investment Research downgraded National Commerce from a “buy” rating to a “hold” rating in a report on Wednesday, January 10th. BidaskClub raised National Commerce from a “hold” rating to a “buy” rating in a report on Wednesday, March 7th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $45.00 price target on shares of National Commerce in a report on Friday, December 22nd. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $44.25.
NASDAQ:NCOM traded down $0.30 during trading hours on Tuesday, reaching $44.20. The company had a trading volume of 6,329 shares, compared to its average volume of 52,681. National Commerce has a 1-year low of $35.60 and a 1-year high of $46.60. The company has a market capitalization of $763.16, a PE ratio of 23.07 and a beta of 1.11. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.06.
Several hedge funds have recently made changes to their positions in NCOM. Arlington Partners LLC acquired a new position in shares of National Commerce during the 4th quarter worth approximately $6,689,000. BlackRock Inc. raised its stake in shares of National Commerce by 13.2% during the 4th quarter. BlackRock Inc. now owns 606,182 shares of the financial services provider’s stock worth $24,398,000 after buying an additional 70,891 shares during the period. Millennium Management LLC raised its stake in shares of National Commerce by 376.5% during the 4th quarter. Millennium Management LLC now owns 73,795 shares of the financial services provider’s stock worth $2,970,000 after buying an additional 58,307 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of National Commerce by 60.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 129,580 shares of the financial services provider’s stock worth $5,546,000 after buying an additional 48,888 shares during the period. Finally, Schwab Charles Investment Management Inc. raised its stake in shares of National Commerce by 195.4% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 44,398 shares of the financial services provider’s stock worth $1,901,000 after buying an additional 29,366 shares during the period. 44.17% of the stock is owned by institutional investors and hedge funds.
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National Commerce Company Profile
National Commerce Corporation operates as the bank holding company for National Bank of Commerce that provides various financial services to businesses, business owners, and professionals. The company offers deposit products, including interest and noninterest-bearing demand deposits, money market accounts, interest-bearing transaction accounts, savings and time deposits, checking accounts, and certificates of deposit, as well as negotiable orders of withdrawal accounts.
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