Bay Commercial Bank (NASDAQ:BCML) Stock Rating Raised to “Hold” at Zacks Research

Bay Commercial Bank (NASDAQ:BCML) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Monday, Zacks reports.

BCML has been the subject of a number of other research reports. Wall Street Zen upgraded Bay Commercial Bank from a “strong sell” rating to a “sell” rating in a research note on Saturday, September 5th. Benchmark upgraded Bay Commercial Bank to a “strong-buy” rating in a research note on Wednesday, September 23rd. Finally, Weiss Ratings downgraded shares of Bay Commercial Bank from a “buy (a-)” rating to a “buy (b-)” rating in a report on Thursday, August 13th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $34.00.

Bay Commercial Bank Price Performance

Bay Commercial Bank stock opened at $30.78 on Monday. Bay Commercial Bank has a 52 week low of $26.78 and a 52 week high of $34.98. The company’s 50 day moving average price is $30.55 and its two-hundred day moving average price is $30.77. The stock has a market cap of $336.12 million, a P/E ratio of 25.65 and a beta of 0.28. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.09.

Bay Commercial Bank (NASDAQ:BCML) last released its earnings results on Thursday, July 23rd. The company reported ($0.64) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($1.28). The business had revenue of $1.49 million during the quarter, compared to the consensus estimate of $26.30 million. Bay Commercial Bank had a net margin of 9.20% and a return on equity of 6.98%. On average, equities analysts predict that Bay Commercial Bank will post 2.05 earnings per share for the current year.

Insider Buying and Selling at Bay Commercial Bank

In other news, Director Robert Laverne bought 1,000 shares of the firm’s stock in a transaction on Thursday, August 20th. The stock was acquired at an average cost of $29.95 per share, with a total value of $29,950.00. Following the completion of the transaction, the director directly owned 92,628 shares of the company’s stock, valued at $2,774,208.60. This represents a 1.09% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Christopher Baron bought 8,250 shares of the stock in a transaction on Monday, August 10th. The stock was purchased at an average price of $30.39 per share, for a total transaction of $250,717.50. Following the completion of the purchase, the chief executive officer owned 9,247 shares of the company’s stock, valued at approximately $281,016.33. This trade represents a 827.48% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders bought 14,250 shares of company stock valued at $431,518. Company insiders own 2.90% of the company’s stock.

Institutional Investors Weigh In On Bay Commercial Bank

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. NewEdge Advisors LLC purchased a new stake in shares of Bay Commercial Bank during the 2nd quarter valued at approximately $269,000. IMC Chicago LLC bought a new stake in Bay Commercial Bank during the 2nd quarter valued at $418,000. Bank of America Corp DE lifted its position in shares of Bay Commercial Bank by 23.9% during the first 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 boosted its holdings in shares of Bay Commercial Bank by 9.9% in the first 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 during the period. Finally, Quantinno Capital Management LP boosted its holdings in shares of Bay Commercial Bank by 18.8% in the first quarter. Quantinno Capital Management LP now owns 23,389 shares of the company’s stock worth $695,000 after acquiring an additional 3,697 shares during the period. 66.16% of the stock is currently owned by institutional investors.

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.