Wall Street Zen upgraded shares of Bay Commercial Bank (NASDAQ:BCML – Free Report) from a strong sell rating to a sell rating in a research report released on Saturday,Wall Street Zen reports.
BCML has been the topic of several other reports. Zacks Research cut Bay Commercial Bank from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 30th. Weiss Ratings cut shares of Bay Commercial Bank from a “buy (a-)” rating to a “buy (b-)” rating in a research note on Thursday, August 13th. Finally, DA Davidson downgraded shares of Bay Commercial Bank from a “buy” rating to a “neutral” rating and set a $34.00 price target on the stock. in a report on Tuesday, May 26th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $34.00.
View Our Latest Stock Analysis on Bay Commercial Bank
Bay Commercial Bank Stock Performance
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 analysts’ consensus estimates of $0.64 by ($1.28). Bay Commercial Bank had a return on equity of 6.98% and a net margin of 9.20%.The business had revenue of $1.49 million during the quarter, compared to the consensus estimate of $26.30 million. As a group, research analysts forecast that Bay Commercial Bank will post 2.05 earnings per share for the current fiscal year.
Bay Commercial Bank Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 8th. Stockholders of record on Thursday, September 10th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend is Thursday, September 10th. Bay Commercial Bank’s dividend payout ratio is presently 100.00%.
Insider Transactions at Bay Commercial Bank
In other news, CEO Christopher Baron acquired 8,250 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The stock was bought at an average price of $30.39 per share, with a total value of $250,717.50. Following the completion of the acquisition, the chief executive officer directly owned 9,247 shares of the company’s stock, valued at approximately $281,016.33. The trade was a 827.48% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael Perdue acquired 5,000 shares of the business’s stock in a transaction that occurred on Friday, July 31st. The stock was purchased at an average cost of $30.17 per share, with a total value of $150,850.00. Following the acquisition, the director directly owned 8,000 shares of the company’s stock, valued at $241,360. This trade represents a 166.67% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought a total of 14,250 shares of company stock worth $431,518 in the last ninety days. Insiders own 2.90% of the company’s stock.
Institutional Investors Weigh In On Bay Commercial Bank
A number of large investors have recently made changes to their positions in BCML. Russell Investments Group Ltd. lifted its stake in shares of Bay Commercial Bank by 974.3% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,085 shares of the company’s stock worth $31,000 after purchasing an additional 984 shares during the period. Assetmark Inc. bought a new stake in Bay Commercial Bank during the first quarter valued at approximately $34,000. Tower Research Capital LLC TRC grew its position in Bay Commercial Bank by 236.6% during the second quarter. Tower Research Capital LLC TRC now owns 1,629 shares of the company’s stock valued at $45,000 after buying an additional 1,145 shares during the period. Kestra Advisory Services LLC bought a new stake in Bay Commercial Bank during the fourth quarter valued at approximately $57,000. Finally, BNP Paribas Financial Markets increased its holdings in Bay Commercial Bank by 107.5% during the third quarter. BNP Paribas Financial Markets now owns 2,173 shares of the company’s stock valued at $62,000 after buying an additional 1,126 shares during the last quarter. 66.16% of the stock is currently owned by institutional investors.
About Bay Commercial Bank
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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