Bay Commercial Bank (NASDAQ:BCML) Upgraded to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Bay Commercial Bank (NASDAQ:BCML) from a hold rating to a strong-buy rating in a research report sent to investors on Monday,Zacks.com reports.

Other research analysts have also recently issued reports about the stock. Wall Street Zen raised shares of Bay Commercial Bank from a “sell” rating to a “hold” rating in a report on Sunday, November 23rd. Weiss Ratings reissued a “buy (b)” rating on shares of Bay Commercial Bank in a research report on Wednesday, January 21st. Finally, DA Davidson lifted their price objective on Bay Commercial Bank from $32.00 to $34.00 and gave the company a “buy” rating in a report on Tuesday, January 27th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $32.50.

Bay Commercial Bank Price Performance

Shares of BCML opened at $30.00 on Monday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.03. The company’s fifty day simple moving average is $29.81 and its 200 day simple moving average is $28.93. Bay Commercial Bank has a 1-year low of $22.22 and a 1-year high of $33.15. The company has a market cap of $327 million, a price-to-earnings ratio of 13.76 and a beta of 0.33.

Bay Commercial Bank (NASDAQ:BCML) last issued its earnings results on Thursday, January 22nd. The company reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.02). The firm had revenue of $0.89 million during the quarter, compared to the consensus estimate of $25.03 million. Bay Commercial Bank had a net margin of 16.92% and a return on equity of 7.22%. On average, research analysts forecast that Bay Commercial Bank will post 2.48 earnings per share for the current fiscal year.

Bay Commercial Bank Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 9th. Shareholders of record on Thursday, December 11th were paid a dividend of $0.30 per share. The ex-dividend date was Thursday, December 11th. This is a boost from Bay Commercial Bank’s previous quarterly dividend of $0.25. This represents a $1.20 annualized dividend and a yield of 4.0%. Bay Commercial Bank’s dividend payout ratio is currently 55.05%.

Hedge Funds Weigh In On Bay Commercial Bank

Institutional investors have recently modified their holdings of the business. Russell Investments Group Ltd. boosted its stake in Bay Commercial Bank by 974.3% in the third quarter. Russell Investments Group Ltd. now owns 1,085 shares of the company’s stock valued at $31,000 after buying an additional 984 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings 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 worth $45,000 after acquiring an additional 1,145 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in shares of Bay Commercial Bank by 107.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,173 shares of the company’s stock valued at $62,000 after purchasing an additional 1,126 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Bay Commercial Bank by 120.8% during the 2nd quarter. PNC Financial Services Group Inc. now owns 3,862 shares of the company’s stock valued at $107,000 after purchasing an additional 2,113 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings 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 valued at $166,000 after purchasing an additional 5,974 shares during the last quarter. Institutional investors and hedge funds own 66.16% of the company’s stock.

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.