Wall Street Zen cut shares of Bay Commercial Bank (NASDAQ:BCML – Free Report) from a hold rating to a strong sell rating in a report published on Saturday morning.
A number of other brokerages have also issued reports on BCML. DA Davidson lowered Bay Commercial Bank from a “buy” rating to a “neutral” rating and set a $34.00 price objective for the company. in a report on Tuesday, May 26th. Weiss Ratings raised Bay Commercial Bank from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Thursday, July 30th. Finally, Zacks Research lowered Bay Commercial Bank from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 30th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Bay Commercial Bank currently has an average rating of “Hold” and a consensus target price of $34.00.
Read Our Latest Research Report on BCML
Bay Commercial Bank Trading Up 0.0%
Bay Commercial Bank (NASDAQ:BCML – Get Free Report) last posted its 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). The firm had revenue of $1.49 million during the quarter, compared to the consensus estimate of $26.30 million. Bay Commercial Bank had a return on equity of 6.98% and a net margin of 9.20%. Sell-side analysts anticipate that Bay Commercial Bank will post 2.29 earnings per share for the current year.
Bay Commercial Bank Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 9th. Stockholders of record on Thursday, June 11th were issued a $0.30 dividend. The ex-dividend date was Thursday, June 11th. This represents a $1.20 annualized dividend and a dividend yield of 3.9%. Bay Commercial Bank’s dividend payout ratio (DPR) is 100.00%.
Insider Buying and Selling
In other news, Director Michael J. Perdue bought 5,000 shares of the business’s stock in a transaction on Friday, July 31st. The stock was purchased at an average cost of $30.17 per share, for a total transaction of $150,850.00. Following the completion of the transaction, the director directly owned 8,000 shares of the company’s stock, valued at approximately $241,360. This trade represents a 166.67% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Christopher F. Baron bought 8,250 shares of the business’s stock in a transaction on Monday, August 10th. The stock was purchased at an average price of $30.39 per share, with a total value of $250,717.50. Following the completion of the transaction, the chief executive officer directly owned 9,247 shares of the company’s stock, valued at $281,016.33. This trade represents a 827.48% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have purchased 18,250 shares of company stock worth $556,268 in the last quarter. Company insiders own 2.90% of the company’s stock.
Institutional Trading of Bay Commercial Bank
A number of hedge funds and other institutional investors have recently modified their holdings of BCML. Empowered Funds LLC lifted its holdings in shares of Bay Commercial Bank by 8.2% in the first quarter. Empowered Funds LLC now owns 37,226 shares of the company’s stock valued at $937,000 after buying an additional 2,827 shares during the period. Jane Street Group LLC acquired a new position in Bay Commercial Bank during the first quarter worth about $454,000. Rhumbline Advisers grew its holdings in Bay Commercial Bank by 3.5% during the second quarter. Rhumbline Advisers now owns 16,673 shares of the company’s stock worth $462,000 after acquiring an additional 564 shares during the period. Invesco Ltd. bought a new stake in Bay Commercial Bank in the second quarter worth about $241,000. Finally, EverSource Wealth Advisors LLC raised its position in Bay Commercial Bank by 119,480.0% in the second quarter. EverSource Wealth Advisors LLC now owns 5,979 shares of the company’s stock worth $166,000 after acquiring an additional 5,974 shares in the last quarter. Institutional investors own 66.16% of the company’s stock.
Bay Commercial Bank Company Profile
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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