Bay Commercial Bank (NASDAQ:BCML) Shares Down 0.9% – Here’s Why

Bay Commercial Bank (NASDAQ:BCMLGet Free Report)’s stock price fell 0.9% on Wednesday . The stock traded as low as $31.34 and last traded at $31.43. 114,079 shares were traded during trading, an increase of 67% from the average session volume of 68,303 shares. The stock had previously closed at $31.71.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on BCML. Brean Capital downgraded Bay Commercial Bank from a “buy” rating to a “neutral” rating in a research report on Friday, April 10th. DA Davidson lowered Bay Commercial Bank from a “buy” rating to a “neutral” rating and set a $34.00 price target on the stock. in a research note on Tuesday, May 26th. Zacks Research lowered Bay Commercial Bank from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. Finally, Weiss Ratings lowered Bay Commercial Bank from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Monday. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $34.00.

Check Out Our Latest Stock Report on BCML

Bay Commercial Bank Stock Performance

The stock has a market cap of $342.90 million, a PE ratio of 12.99 and a beta of 0.27. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.02. The firm has a 50 day moving average price of $30.43 and a 200 day moving average price of $29.98.

Bay Commercial Bank (NASDAQ:BCMLGet Free Report) last announced its quarterly earnings results on Thursday, April 23rd. The company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.62 by $0.13. The firm had revenue of $1.55 million for the quarter, compared to analyst estimates of $25.95 million. Bay Commercial Bank had a return on equity of 7.84% and a net margin of 18.41%. As a group, research analysts forecast that Bay Commercial Bank will post 2.7 earnings per share for the current year.

Bay Commercial Bank Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Thursday, June 11th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 3.8%. The ex-dividend date is Thursday, June 11th. Bay Commercial Bank’s payout ratio is 49.59%.

Insider Transactions at Bay Commercial Bank

In related news, Director Michael J. Perdue bought 3,000 shares of the business’s stock in a transaction on Tuesday, May 26th. The shares were bought at an average price of $30.94 per share, for a total transaction of $92,820.00. Following the completion of the purchase, the director directly owned 3,000 shares of the company’s stock, valued at approximately $92,820. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Bay Commercial Bank

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE grew its stake 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 purchasing an additional 2,854 shares during the last quarter. Empowered Funds LLC grew its stake in Bay Commercial Bank by 9.9% in the first quarter. Empowered Funds LLC now owns 56,053 shares of the company’s stock valued at $1,666,000 after purchasing an additional 5,052 shares during the last quarter. Quantinno Capital Management LP grew its stake in Bay Commercial Bank by 18.8% in the first quarter. Quantinno Capital Management LP now owns 23,389 shares of the company’s stock valued at $695,000 after purchasing an additional 3,697 shares during the last quarter. Sei Investments Co. grew its stake 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 purchasing an additional 4,100 shares during the last quarter. Finally, Assetmark Inc. purchased a new position in Bay Commercial Bank in the first quarter valued at about $34,000. Hedge funds and other institutional investors own 66.16% of the company’s stock.

About Bay Commercial Bank

(Get Free Report)

Bay Commercial Bank is a bank holding company that offers a full suite of commercial and consumer banking services through its subsidiary, Bay Commercial Bank. The institution emphasizes relationship-driven banking, focusing on the needs of small and medium-sized businesses, professionals, and individual customers.

The bank’s lending portfolio encompasses commercial real estate, construction and development financing, equipment loans, acquisition financing, and consumer credit products such as residential mortgages and personal lines of credit.

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