Bay Commercial Bank (NASDAQ:BCML) Releases Earnings Results

Bay Commercial Bank (NASDAQ:BCML) posted its earnings results on Thursday. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.46), FiscalAI reports. Bay Commercial Bank had a return on equity of 7.54% and a net margin of 6.53%. The firm had revenue of $18.73 million for the quarter, compared to analysts’ expectations of $26.41 million.

Bay Commercial Bank Price Performance

Shares of Bay Commercial Bank stock traded down $1.45 during mid-day trading on Friday, reaching $30.45. 120,001 shares of the stock traded hands, compared to its average volume of 65,558. The business has a 50-day moving average of $30.50 and a 200 day moving average of $30.98. Bay Commercial Bank has a fifty-two week low of $26.78 and a fifty-two week high of $34.98. The stock has a market capitalization of $332.51 million, a PE ratio of 36.25 and a beta of 0.32. 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 Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 8th. Shareholders of record on Thursday, September 10th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, September 10th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.9%. Bay Commercial Bank’s dividend payout ratio is presently 142.86%.

Insider Buying and Selling

In other news, CEO Christopher Baron acquired 8,250 shares of Bay Commercial Bank stock in a transaction that occurred on Monday, August 10th. The stock was purchased at an average cost of $30.39 per share, with a total value of $250,717.50. Following the purchase, the chief executive officer owned 9,247 shares in the company, valued at $281,016.33. This trade represents a 827.48% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert Laverne acquired 1,000 shares of the firm’s stock in a transaction on Thursday, August 20th. The stock was purchased at an average price of $29.95 per share, for a total transaction of $29,950.00. Following the acquisition, the director directly owned 92,628 shares in the company, valued at $2,774,208.60. This represents a 1.09% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders bought 14,250 shares of company stock worth $431,518. 2.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

BCML has been the subject of several recent analyst reports. Wall Street Zen raised shares of Bay Commercial Bank from a “strong sell” rating to a “sell” rating in a report on Saturday, September 5th. Benchmark upgraded shares of Bay Commercial Bank to a “strong-buy” rating in a research report on Wednesday, September 23rd. Weiss Ratings downgraded shares of Bay Commercial Bank from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, October 9th. Finally, Zacks Research upgraded shares of Bay Commercial Bank from a “strong sell” rating to a “hold” rating in a research report on Monday, September 28th. One analyst has rated the stock with a Strong Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $34.00.

Bay Commercial Bank Company Profile

Bay Commercial Bank is a community-focused commercial bank associated with BayCom Corp. The institution provides banking services to businesses, professionals and individuals, with an emphasis on relationship-based commercial banking.

Its products and services include commercial and real estate lending, construction and small-business loans, business checking and savings accounts, personal deposit accounts, cash-management services, online banking and other traditional financial services.

The bank originated in California and has served businesses and communities in the western United States through its branch network and commercial banking operations.