Bay Commercial Bank (NASDAQ:BCML – Get Free Report) has been assigned an average rating of “Hold” from the five ratings firms that are currently covering the firm, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating and one has given a strong buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $34.00.
Several brokerages recently commented on BCML. Wall Street Zen raised shares of Bay Commercial Bank from a “strong sell” rating to a “sell” rating in a research report on Saturday, September 5th. Weiss Ratings lowered shares of Bay Commercial Bank from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, October 9th. Benchmark raised Bay Commercial Bank to a “strong-buy” rating in a research report on Wednesday, September 23rd. Finally, Zacks Research upgraded Bay Commercial Bank from a “strong sell” rating to a “hold” rating in a research note on Monday, September 28th.
Check Out Our Latest Analysis on BCML
Bay Commercial Bank Stock Performance
NASDAQ BCML opened at $31.02 on Tuesday. The business’s 50-day moving average price is $30.49 and its 200 day moving average price is $30.95. Bay Commercial Bank has a twelve month low of $26.78 and a twelve month high of $34.98. The company has a market capitalization of $338.74 million, a PE ratio of 25.85 and a beta of 0.32. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.09.
Bay Commercial Bank (NASDAQ:BCML – Get Free Report) last posted its quarterly earnings results on Thursday, July 23rd. The company reported ($0.64) EPS for the quarter, missing the consensus estimate of $0.64 by ($1.28). Bay Commercial Bank had a net margin of 9.20% and a return on equity of 6.98%. The business had revenue of $1.49 million during the quarter, compared to analysts’ expectations of $26.30 million. On average, research analysts predict that Bay Commercial Bank will post 2.14 earnings per share for the current year.
Bay Commercial Bank Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, October 8th. Shareholders of record on Thursday, September 10th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend was Thursday, September 10th. Bay Commercial Bank’s payout ratio is 100.00%.
Insider Activity at Bay Commercial Bank
In related news, Director Robert G. Laverne acquired 1,000 shares of the business’s stock in a transaction on Thursday, August 20th. The shares were bought at an average cost of $29.95 per share, with a total value of $29,950.00. Following the completion of the transaction, the director directly owned 92,628 shares of the company’s stock, valued at $2,774,208.60. This trade represents a 1.09% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael J. Perdue acquired 5,000 shares of Bay Commercial Bank stock in a transaction on Friday, July 31st. The shares were bought at an average price of $30.17 per share, for a total transaction of $150,850.00. Following the purchase, the director owned 8,000 shares of the company’s stock, valued at $241,360. This represents a 166.67% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have acquired 14,250 shares of company stock worth $431,518. 2.90% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Bay Commercial Bank
Several institutional investors and hedge funds have recently modified their holdings of BCML. Assetmark Inc. acquired a new position in Bay Commercial Bank during the 1st quarter worth approximately $34,000. NewEdge Advisors LLC purchased a new position in Bay Commercial Bank in the 2nd quarter worth approximately $269,000. Sei Investments Co. grew its position in Bay Commercial Bank by 42.3% in the first quarter. Sei Investments Co. now owns 13,793 shares of the company’s stock valued at $410,000 after acquiring an additional 4,100 shares in the last quarter. IMC Chicago LLC acquired a new stake in Bay Commercial Bank in the second quarter valued at approximately $418,000. Finally, Bank of America Corp DE grew its position in Bay Commercial Bank by 23.9% in the first quarter. Bank of America Corp DE now owns 14,780 shares of the company’s stock valued at $439,000 after acquiring an additional 2,854 shares in the last quarter. Hedge funds and other institutional investors own 66.16% of the company’s stock.
Bay Commercial Bank Company Profile
BayCom Corp. is the bank holding company for Bay Community Bank, a community banking institution formerly known as Bay Commercial Bank. Headquartered in Walnut Creek, California, the bank focuses on serving small and midsized businesses, professionals, nonprofit organizations and individuals in Northern California.
Bay Community Bank provides commercial and consumer banking services, including business loans, commercial real estate financing, construction and equipment loans, residential real estate loans, lines of credit, and consumer lending.
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