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There's an old saying on Wall Street about insider buying: there are many possible reasons to sell a stock, but only one reason to buy. Back on November 8, Bank Of Commerce Holdings 's Director, Lyle L Tullis, invested $17,250.00 into 5,000 shares of BOCH, for a cost per share of $3.45. Bargain hunters tend to pay particular attention to insider buys like this one, because presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money.
In trading on Tuesday, bargain hunters could buy shares of Bank Of Commerce Holdings (NASDAQ:BOCH) and achieve a cost basis 2.6% cheaper than Tullis, with shares changing hands as low as $3.36 per share. Bank Of Commerce Holdings shares are currently trading down about 0.3% on the day. The chart below shows the one year performance of BOCH shares, versus its 200 day moving average:
Looking at the chart above, BOCH's low point in its 52 week range is $2.90 per share, with $4.62 as the 52 week high point — that compares with a last trade of $3.36. By comparison, below is a table showing the prices at which insider buying was recorded over the last six months:
Purchased
Insider
Title
Shares
Price/Share
Value
05/25/2011
Kenneth R Gifford Jr.
Chairman of the Board
6,540
$4.25
$27,795.00
06/15/2011
Patrick J Moty
President & CEO
200
$4.22
$844.00
08/03/2011
Joseph Gibson
Director
5,000
$4.03
$20,150.00
08/03/2011
Robert H Muttera
Director
2,000
$3.99
$7,975.00
08/08/2011
Joseph Gibson
Director
2,000
$3.81
$7,620.00
08/09/2011
Robert H Muttera
Director
5,000
$3.60
$17,978.00
08/08/2011
Patrick J Moty
President & CEO
300
$3.66
$1,098.00
08/12/2011
Samuel D Jimenez
Chief Financial Officer
2,000
$3.44
$6,880.00
08/15/2011
Lyle L Tullis
Director
5,000
$3.46
$17,300.00
08/15/2011
Kenneth R Gifford Jr.
Director
1,000
$3.45
$3,450.00
08/16/2011
Kenneth R Gifford Jr.
Director
1,000
$3.41
$3,410.00
08/17/2011
Kenneth R Gifford Jr.
Director
1,000
$3.46
$3,460.00
08/17/2011
Joseph Gibson
Director
1,600
$3.40
$5,440.00
08/18/2011
Kenneth R Gifford Jr.
Director
1,000
$3.40
$3,400.00
08/19/2011
Kenneth R Gifford Jr.
Director
1,000
$3.40
$3,400.00
08/22/2011
Kenneth R Gifford Jr.
Director
1,000
$3.40
$3,400.00
08/22/2011
Kenneth R Gifford Jr.
Director
1,000
$3.44
$3,440.00
08/24/2011
Kenneth R Gifford Jr.
Director
1,000
$3.47
$3,470.00
08/26/2011
Kenneth R Gifford Jr.
Director
1,000
$3.50
$3,500.00
08/26/2011
Kenneth R Gifford Jr.
Director
1,000
$3.55
$3,550.00
08/29/2011
Kenneth R Gifford Jr.
Director
1,000
$3.65
$3,650.00
08/30/2011
Kenneth R Gifford Jr.
Director
1,000
$3.69
$3,690.00
08/31/2011
Kenneth R Gifford Jr.
Director
1,000
$3.71
$3,710.00
09/01/2011
Kenneth R Gifford Jr.
Director
900
$3.71
$3,339.00
09/07/2011
Lyle L Tullis
Director
5,000
$3.59
$17,950.00
09/15/2011
Robert H Muttera
Director
5,000
$3.35
$16,750.00
11/08/2011
Lyle L Tullis
Director
5,000
$3.45
$17,250.00
BOCH operates in the Banking & Savings sector, among companies like Comerica, Inc. (NYSE:CMA) which is down about 0.2% today, and Regions Financial Corp (NYSE:RF) trading lower by about 1%. Below is a three month price history chart comparing the stock performance of BOCH, versus CMA and RF.
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