Bay Commercial Bank (NASDAQ:BCML) Given New $34.00 Price Target at DA Davidson

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

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

Bay Commercial Bank Stock Down 1.2%

BCML stock traded down $0.37 during midday trading on Tuesday, hitting $29.19. The stock had a trading volume of 1,894 shares, compared to its average volume of 16,695. The business has a 50-day moving average of $29.69 and a two-hundred day moving average of $28.87. 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 firm has a market cap of $318.12 million, a price-to-earnings ratio of 13.39 and a beta of 0.34. Bay Commercial Bank has a 52-week low of $22.22 and a 52-week high of $33.15.

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

Institutional Trading of Bay Commercial Bank

Institutional investors have recently made changes to their positions in the stock. Empowered Funds LLC raised its holdings in shares of Bay Commercial Bank by 8.2% during the first quarter. Empowered Funds LLC now owns 37,226 shares of the company’s stock valued at $937,000 after purchasing an additional 2,827 shares during the last quarter. Jane Street Group LLC purchased a new stake in Bay Commercial Bank during the 1st quarter valued at $454,000. PNC Financial Services Group Inc. lifted 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 buying an additional 2,113 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Bay Commercial Bank by 1.2% during the 2nd quarter. Geode Capital Management LLC now owns 240,564 shares of the company’s stock valued at $6,668,000 after buying an additional 2,897 shares during the period. Finally, LSV Asset Management grew its holdings in shares of Bay Commercial Bank by 35.7% in the second quarter. LSV Asset Management now owns 88,211 shares of the company’s stock worth $2,444,000 after acquiring an additional 23,211 shares during the period. Hedge funds and other institutional investors 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.