Bay Commercial Bank (NASDAQ:BCML) Issues Earnings Results

Bay Commercial Bank (NASDAQ:BCML) posted its quarterly earnings data on Thursday. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.32), Zacks reports. Bay Commercial Bank had a return on equity of 7.84% and a net margin of 18.41%.

Bay Commercial Bank Stock Down 0.5%

NASDAQ BCML traded down $0.17 during mid-day trading on Thursday, reaching $33.13. The stock had a trading volume of 49,210 shares, compared to its average volume of 47,120. The stock has a market cap of $361.45 million, a PE ratio of 13.69 and a beta of 0.27. Bay Commercial Bank has a 1 year low of $26.31 and a 1 year high of $34.98. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.02 and a quick ratio of 1.02. The company has a fifty day moving average price of $32.15 and a 200 day moving average price of $30.44.

Bay Commercial Bank Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 9th. Investors of record on Thursday, June 11th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date was Thursday, June 11th. Bay Commercial Bank’s payout ratio is presently 49.59%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on BCML shares. DA Davidson downgraded shares of Bay Commercial Bank from a “buy” rating to a “neutral” rating and set a $34.00 target price on the stock. in a research report on Tuesday, May 26th. Weiss Ratings lowered shares of Bay Commercial Bank from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Wednesday, July 15th. Zacks Research downgraded shares of Bay Commercial Bank from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. Finally, Brean Capital lowered shares of Bay Commercial Bank from a “buy” rating to a “neutral” rating in a report on Friday, April 10th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $34.00.

Insider Buying and Selling at Bay Commercial Bank

In related news, Director Michael J. Perdue bought 3,000 shares of the 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 purchase, the director owned 3,000 shares of the company’s stock, valued at approximately $92,820. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Empowered Funds LLC boosted its holdings in shares of Bay Commercial Bank by 8.2% in the first quarter. Empowered Funds LLC now owns 37,226 shares of the company’s stock worth $937,000 after buying an additional 2,827 shares during the last quarter. Jane Street Group LLC bought a new position in Bay Commercial Bank in the first quarter worth approximately $454,000. Rhumbline Advisers raised its position 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 acquiring an additional 564 shares during the period. Invesco Ltd. purchased a new position in shares of Bay Commercial Bank during the 2nd quarter worth $241,000. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Bay Commercial Bank by 119,480.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,979 shares of the company’s stock worth $166,000 after acquiring an additional 5,974 shares during the last quarter. Institutional investors own 66.16% of the company’s stock.

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.