Michael Perdue Acquires 3,000 Shares of Bay Commercial Bank (NASDAQ:BCML) Stock

Bay Commercial Bank (NASDAQ:BCML) Director Michael Perdue bought 3,000 shares of the business’s stock in a transaction on Tuesday, May 26th. The shares were acquired at an average price of $30.94 per share, for a total transaction of $92,820.00. Following the completion of the purchase, the director owned 3,000 shares in the company, valued at approximately $92,820. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link.

Bay Commercial Bank Trading Up 0.2%

Shares of NASDAQ:BCML opened at $30.84 on Thursday. The company has a market cap of $336.46 million, a P/E ratio of 12.74 and a beta of 0.27. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.02 and a quick ratio of 1.02. Bay Commercial Bank has a 1 year low of $25.84 and a 1 year high of $33.15. The stock’s fifty day moving average price is $29.75 and its 200-day moving average price is $29.64.

Bay Commercial Bank (NASDAQ:BCML) last released its quarterly earnings data on Thursday, April 23rd. The company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.62 by $0.13. Bay Commercial Bank had a return on equity of 7.84% and a net margin of 18.41%.The company had revenue of $1.55 million during the quarter, compared to the consensus estimate of $25.95 million. Sell-side analysts expect that Bay Commercial Bank will post 2.7 earnings per share for the current year.

Bay Commercial Bank Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 9th. Stockholders of record on Thursday, June 11th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend is Thursday, June 11th. Bay Commercial Bank’s dividend payout ratio (DPR) is presently 49.59%.

Hedge Funds Weigh In On Bay Commercial Bank

Large investors have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. lifted its stake 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 buying an additional 475 shares in the last quarter. Rhumbline Advisers increased its holdings in shares of Bay Commercial Bank by 3.5% in the 2nd quarter. Rhumbline Advisers now owns 16,673 shares of the company’s stock worth $462,000 after buying an additional 564 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Bay Commercial Bank by 7.2% in the 4th quarter. Invesco Ltd. now owns 10,667 shares of the company’s stock worth $314,000 after buying an additional 716 shares during the last quarter. Mercer Global Advisors Inc. ADV raised its position 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 valued at $678,000 after buying an additional 771 shares in the last quarter. Finally, LSV Asset Management raised its position 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 valued at $2,564,000 after buying an additional 800 shares in the last quarter. Hedge funds and other institutional investors own 66.16% of the company’s stock.

Analyst Ratings Changes

BCML has been the topic of a number of research analyst reports. DA Davidson downgraded shares of Bay Commercial Bank from a “buy” rating to a “neutral” rating and set a $34.00 price objective on the stock. in a research report on Tuesday. Brean Capital downgraded shares of Bay Commercial Bank from a “buy” rating to a “neutral” rating in a research report on Friday, April 10th. Zacks Research lowered shares of Bay Commercial Bank from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. Finally, Weiss Ratings raised Bay Commercial Bank from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday, April 20th. One investment analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Bay Commercial Bank currently has a consensus rating of “Moderate Buy” and an average target price of $34.00.

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.