DA Davidson Raises Bay Commercial Bank (NASDAQ:BCML) Price Target to $34.00

Bay Commercial Bank (NASDAQ:BCML) had its price target hoisted by research analysts at DA Davidson from $32.00 to $34.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. DA Davidson’s price target would indicate a potential upside of 16.50% from the stock’s previous close.

BCML has been the subject of a number of other reports. Weiss Ratings restated a “buy (b)” rating on shares of Bay Commercial Bank in a report on Wednesday, January 21st. Wall Street Zen raised shares of Bay Commercial Bank from a “sell” rating to a “hold” rating in a research note on Sunday, November 23rd. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $32.50.

Bay Commercial Bank Price Performance

Shares of NASDAQ:BCML traded down $0.37 on Tuesday, hitting $29.19. The company’s stock had a trading volume of 1,894 shares, compared to its average volume of 16,695. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.02 and a quick ratio of 1.02. The company has a 50-day simple moving average of $29.69 and a 200 day simple moving average of $28.87. The company has a market capitalization of $318.12 million, a PE ratio of 13.39 and a beta of 0.34. Bay Commercial Bank has a 1 year low of $22.22 and a 1 year high of $33.15.

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

Institutional Investors Weigh In On Bay Commercial Bank

Large investors have recently made changes to their positions in the business. PNC Financial Services Group Inc. lifted its stake in Bay Commercial Bank by 12.3% in the third quarter. PNC Financial Services Group Inc. now owns 4,337 shares of the company’s stock worth $125,000 after acquiring an additional 475 shares during the period. Rhumbline Advisers lifted its position in shares of Bay Commercial Bank by 3.5% in the 2nd quarter. Rhumbline Advisers now owns 16,673 shares of the company’s stock worth $462,000 after purchasing an additional 564 shares during the period. Ameriprise Financial Inc. lifted its position in shares of Bay Commercial Bank by 3.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 23,639 shares of the company’s stock worth $655,000 after purchasing an additional 852 shares during the period. Russell Investments Group Ltd. boosted its stake in shares of Bay Commercial Bank by 974.3% during 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 in the last quarter. Finally, BNP Paribas Financial Markets increased its position in shares of Bay Commercial Bank by 107.5% during 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 period. 66.16% of the stock is currently owned by institutional investors.

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.