Bay Commercial Bank (NASDAQ:BCML) Stock Price Up 2.7% – What’s Next?

Bay Commercial Bank (NASDAQ:BCML) shares rose 2.7% on Monday . The stock traded as high as $30.00 and last traded at $29.61. Approximately 27,463 shares changed hands during mid-day trading, a decline of 3% from the average daily volume of 28,451 shares. The stock had previously closed at $28.82.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Weiss Ratings reissued a “buy (b)” rating on shares of Bay Commercial Bank in a research note on Wednesday, January 21st. Zacks Research upgraded Bay Commercial Bank from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 2nd. Wall Street Zen upgraded Bay Commercial Bank from a “sell” rating to a “hold” rating in a research report on Sunday, November 23rd. Finally, DA Davidson raised their price target on Bay Commercial Bank from $32.00 to $34.00 and gave the stock a “buy” rating in a research note on Tuesday, January 27th. One analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $34.00.

Bay Commercial Bank Stock Performance

The company has a market cap of $323.05 million, a PE ratio of 13.58 and a beta of 0.31. The stock’s 50 day simple moving average is $29.55 and its two-hundred day simple moving average is $29.23. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.03.

Bay Commercial Bank (NASDAQ:BCML) last announced its quarterly earnings data on Thursday, January 22nd. The company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.65 by ($0.02). The company had revenue of $0.89 million for the quarter, compared to analysts’ expectations of $25.03 million. Bay Commercial Bank had a net margin of 16.92% and a return on equity of 7.18%. As a group, research analysts anticipate that Bay Commercial Bank will post 2.48 earnings per share for the current year.

Bay Commercial Bank Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 9th. Shareholders of record on Thursday, March 12th will be paid a dividend of $0.30 per share. The ex-dividend date is Thursday, March 12th. This represents a $1.20 annualized dividend and a yield of 4.1%. Bay Commercial Bank’s dividend payout ratio is currently 55.05%.

Hedge Funds Weigh In On Bay Commercial Bank

Hedge funds and other institutional investors have recently modified their holdings of the company. Empowered Funds LLC grew its holdings in shares of Bay Commercial Bank by 8.2% during the 1st quarter. Empowered Funds LLC now owns 37,226 shares of the company’s stock worth $937,000 after purchasing an additional 2,827 shares during the period. Jane Street Group LLC acquired a new position in shares of Bay Commercial Bank during the 1st quarter valued at $454,000. PNC Financial Services Group Inc. lifted its holdings in shares of Bay Commercial Bank by 120.8% during the 2nd quarter. PNC Financial Services Group Inc. now owns 3,862 shares of the company’s stock valued at $107,000 after acquiring an additional 2,113 shares in the last quarter. Geode Capital Management LLC boosted its position in Bay Commercial Bank by 1.2% during the 2nd quarter. Geode Capital Management LLC now owns 240,564 shares of the company’s stock worth $6,668,000 after purchasing an additional 2,897 shares during the period. Finally, Rhumbline Advisers increased its holdings in Bay Commercial Bank by 3.5% in the 2nd quarter. Rhumbline Advisers now owns 16,673 shares of the company’s stock valued at $462,000 after purchasing an additional 564 shares in the last quarter. 66.16% of the stock is owned by institutional investors and hedge funds.

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.