Martingale Asset Management L P Cuts Stake in National Commerce Corporation (NCOM)

Martingale Asset Management L P trimmed its position in National Commerce Corporation (NASDAQ:NCOM) by 9.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 51,617 shares of the financial services provider’s stock after selling 5,505 shares during the quarter. Martingale Asset Management L P owned 0.37% of National Commerce Corporation worth $2,042,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in NCOM. SG Americas Securities LLC purchased a new position in shares of National Commerce Corporation in the 1st quarter worth about $108,000. Legal & General Group Plc raised its holdings in shares of National Commerce Corporation by 12.0% in the 2nd 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. American International Group Inc. raised its holdings in shares of National Commerce Corporation by 7.1% in the 1st 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. Bank of Montreal Can raised its holdings in shares of National Commerce Corporation by 36.0% in the 1st quarter. Bank of Montreal Can now owns 6,054 shares of the financial services provider’s stock worth $222,000 after purchasing an additional 1,604 shares during the period. Finally, Homrich & Berg purchased a new position in shares of National Commerce Corporation in the 1st quarter worth about $236,000. Institutional investors own 47.21% of the company’s stock.

A number of equities analysts have recently commented on the company. ValuEngine downgraded National Commerce Corporation from a “buy” rating to a “hold” rating in a report on Saturday, July 8th. Zacks Investment Research lowered National Commerce Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. BidaskClub upgraded National Commerce Corporation from a “sell” rating to a “hold” rating in a research note on Saturday, August 26th. Finally, Stephens set a $41.00 target price on National Commerce Corporation and gave the company a “hold” rating in a research note on Thursday, August 17th. Seven analysts have rated the stock with a hold rating, The stock presently has an average rating of “Hold” and an average price target of $39.00.

In related news, Director Russell H. Iv Vandevelde purchased 1,767 shares of National Commerce Corporation stock in a transaction on Monday, August 21st. The stock was bought at an average price of $38.86 per share, with a total value of $68,665.62. Following the completion of the transaction, the director now directly owns 98,333 shares of the company’s stock, valued at $3,821,220.38. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 19.40% of the stock is owned by insiders.

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Shares of National Commerce Corporation (NCOM) opened at 40.35 on Wednesday. National Commerce Corporation has a 1-year low of $26.02 and a 1-year high of $41.25. The firm has a market cap of $567.72 million, a price-to-earnings ratio of 22.49 and a beta of 1.07. The stock has a 50 day moving average price of $39.69 and a 200-day moving average price of $38.59.

National Commerce Corporation 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.

Institutional Ownership by Quarter for National Commerce Corporation (NASDAQ:NCOM)

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