Bay Commercial Bank (NASDAQ:BCML – Get Free Report) was upgraded by equities research analysts at Benchmark to a “strong-buy” rating in a research report issued to clients and investors on Wednesday, Zacks reports.
BCML has been the subject of several other research reports. DA Davidson downgraded Bay Commercial Bank from a “buy” rating to a “neutral” rating and set a $34.00 price objective for the company. in a research note on Tuesday, May 26th. Zacks Research downgraded shares of Bay Commercial Bank from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 30th. Weiss Ratings lowered shares of Bay Commercial Bank from a “buy (a-)” rating to a “buy (b-)” rating in a report on Thursday, August 13th. Finally, Wall Street Zen upgraded shares of Bay Commercial Bank from a “strong sell” rating to a “sell” rating in a research report on Saturday, September 5th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $34.00.
Check Out Our Latest Research Report on BCML
Bay Commercial Bank Trading Up 1.9%
Bay Commercial Bank (NASDAQ:BCML – Get Free Report) last issued its earnings results on Thursday, July 23rd. The company reported ($0.64) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($1.28). The firm had revenue of $1.49 million during the quarter, compared to analyst estimates of $26.30 million. Bay Commercial Bank had a return on equity of 6.98% and a net margin of 9.20%. As a group, sell-side analysts predict that Bay Commercial Bank will post 2.05 EPS for the current fiscal year.
Insider Buying and Selling at Bay Commercial Bank
In other news, Director Michael Perdue purchased 5,000 shares of the stock in a transaction on Friday, July 31st. The stock was purchased at an average price of $30.17 per share, for a total transaction of $150,850.00. Following the acquisition, the director owned 8,000 shares in the company, valued at $241,360. This trade represents a 166.67% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Christopher Baron purchased 8,250 shares of the stock in a transaction on Monday, August 10th. The shares were purchased at an average price of $30.39 per share, with a total value of $250,717.50. Following the acquisition, the chief executive officer owned 9,247 shares in the company, valued at approximately $281,016.33. The trade was a 827.48% increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders bought 14,250 shares of company stock valued at $431,518. 2.90% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Bay Commercial Bank
A number of hedge funds have recently bought and sold shares of BCML. NewEdge Advisors LLC acquired a new position in Bay Commercial Bank in the second quarter valued at $269,000. IMC Chicago LLC acquired a new stake in Bay Commercial Bank during the 2nd quarter worth about $418,000. Bank of America Corp DE raised its position in shares of Bay Commercial Bank by 23.9% in the 1st quarter. Bank of America Corp DE now owns 14,780 shares of the company’s stock worth $439,000 after acquiring an additional 2,854 shares in the last quarter. Empowered Funds LLC raised its position in shares of Bay Commercial Bank by 9.9% in the 1st quarter. Empowered Funds LLC now owns 56,053 shares of the company’s stock worth $1,666,000 after acquiring an additional 5,052 shares in the last quarter. Finally, Quantinno Capital Management LP lifted its stake in shares of Bay Commercial Bank by 18.8% in the 1st 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 period. Institutional investors own 66.16% of the company’s stock.
Bay Commercial Bank Company Profile
BayCom Corp is a bank holding company that operates through its banking subsidiary, United Business Bank. The institution provides commercial banking services to businesses, professionals, nonprofit organizations and individuals, with a focus on relationship-based banking and customized financial solutions.
Its products and services generally include business and commercial real estate loans, construction and industrial financing, lines of credit, equipment financing, deposit accounts, treasury management and online banking.
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