The Manufacturers Life Insurance Company Sells 29,374 Shares of Bay Commercial Bank $BCML

The Manufacturers Life Insurance Company reduced its holdings in Bay Commercial Bank (NASDAQ:BCML) by 7.4% during the 1st quarter, Holdings Channel reports. The fund owned 368,510 shares of the company’s stock after selling 29,374 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Bay Commercial Bank were worth $10,954,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Russell Investments Group Ltd. raised its position in Bay Commercial Bank by 974.3% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,085 shares of the company’s stock valued at $31,000 after purchasing an additional 984 shares during the last quarter. Assetmark Inc. acquired a new stake in shares of Bay Commercial Bank in the first quarter valued at $34,000. Tower Research Capital LLC TRC increased its stake in shares of Bay Commercial Bank by 236.6% in 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 in the last quarter. Kestra Advisory Services LLC bought a new position in shares of Bay Commercial Bank in the fourth quarter valued at about $57,000. Finally, BNP Paribas Financial Markets raised its holdings in shares of Bay Commercial Bank by 107.5% in 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.

Insider Transactions at Bay Commercial Bank

In other Bay Commercial Bank news, Director Michael J. Perdue bought 5,000 shares of the firm’s stock in a transaction 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 completion of the purchase, the director owned 8,000 shares in the company, valued at approximately $241,360. The trade was a 166.67% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders bought 10,000 shares of company stock valued at $305,550 over the last ninety days. 2.90% of the stock is currently owned by insiders.

Bay Commercial Bank Trading Up 1.1%

BCML opened at $30.50 on Tuesday. The firm’s fifty day moving average is $32.21 and its two-hundred day moving average is $30.57. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a market cap of $332.75 million, a PE ratio of 25.42 and a beta of 0.28. Bay Commercial Bank has a twelve month low of $26.72 and a twelve month high of $34.98.

Bay Commercial Bank (NASDAQ:BCML) last announced its quarterly earnings results on Thursday, July 23rd. The company reported ($0.64) earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($1.28). Bay Commercial Bank had a return on equity of 6.96% and a net margin of 9.20%.The firm had revenue of $1.49 million for the quarter, compared to the consensus estimate of $26.30 million. Equities research analysts anticipate that Bay Commercial Bank will post 2.29 EPS for the current year.

Bay Commercial Bank Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 9th. Shareholders of record on Thursday, June 11th were issued a dividend of $0.30 per share. The ex-dividend date was Thursday, June 11th. This represents a $1.20 annualized dividend and a yield of 3.9%. Bay Commercial Bank’s payout ratio is currently 100.00%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Brean Capital cut 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 “hold” rating to a “strong sell” rating in a research report on Thursday, July 30th. DA Davidson cut 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 research note on Tuesday, May 26th. Finally, Weiss Ratings raised shares of Bay Commercial Bank from a “buy (b+)” rating to a “buy (a-)” rating in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target 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.