Bay Commercial Bank (NASDAQ:BCML) Downgraded to Hold Rating by Zacks Research

Bay Commercial Bank (NASDAQ:BCML) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Monday,Zacks.com reports.

BCML has been the subject of several other research reports. DA Davidson increased their price target on Bay Commercial Bank from $32.00 to $34.00 and gave the company a “buy” rating in a research note on Tuesday, January 27th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Bay Commercial Bank in a research note on Wednesday, January 21st. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.00.

Bay Commercial Bank Stock Performance

Shares of Bay Commercial Bank stock opened at $29.73 on Monday. The stock has a market cap of $324.35 million, a price-to-earnings ratio of 13.64 and a beta of 0.31. Bay Commercial Bank has a twelve month low of $22.22 and a twelve month high of $33.15. The company’s fifty day moving average is $29.61 and its 200 day moving average is $29.20. 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 earnings results 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 the consensus estimate of $25.03 million. Bay Commercial Bank had a return on equity of 7.18% and a net margin of 16.92%. Sell-side analysts forecast that Bay Commercial Bank will post 2.48 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in BCML. PNC Financial Services Group Inc. boosted its position in shares of Bay Commercial Bank by 12.3% during the 3rd quarter. PNC Financial Services Group Inc. now owns 4,337 shares of the company’s stock valued at $125,000 after purchasing an additional 475 shares in the last quarter. Rhumbline Advisers increased its holdings in Bay Commercial Bank by 3.5% in the second quarter. Rhumbline Advisers now owns 16,673 shares of the company’s stock worth $462,000 after purchasing an additional 564 shares in the last quarter. Invesco Ltd. lifted its stake in Bay Commercial Bank by 7.2% in the fourth quarter. Invesco Ltd. now owns 10,667 shares of the company’s stock valued at $314,000 after buying an additional 716 shares during the period. Mercer Global Advisors Inc. ADV boosted its holdings in shares of Bay Commercial Bank by 3.5% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 23,068 shares of the company’s stock worth $678,000 after buying an additional 771 shares in the last quarter. Finally, LSV Asset Management boosted its holdings in shares of Bay Commercial Bank by 0.9% during the 4th quarter. LSV Asset Management now owns 87,211 shares of the company’s stock worth $2,564,000 after buying an additional 800 shares in the last quarter. 66.16% of the stock is owned by institutional investors and hedge funds.

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.