Bay Commercial Bank (NASDAQ:BCML) Stock Price Up 2.7% – What’s Next?

Bay Commercial Bank (NASDAQ:BCML)’s stock price shot up 2.7% during trading on Monday . The stock traded as high as $30.00 and last traded at $29.61. 27,463 shares were traded during mid-day trading, a decline of 3% from the average session volume of 28,451 shares. The stock had previously closed at $28.82.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on BCML. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Bay Commercial Bank in a research report on Wednesday, January 21st. Wall Street Zen upgraded Bay Commercial Bank from a “sell” rating to a “hold” rating in a report on Sunday, November 23rd. Zacks Research raised Bay Commercial Bank from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 2nd. Finally, DA Davidson upped their price target on Bay Commercial Bank from $32.00 to $34.00 and gave the stock a “buy” rating in a report on Tuesday, January 27th. One investment analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $34.00.

Bay Commercial Bank Price Performance

The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a market cap of $323.05 million, a price-to-earnings ratio of 13.58 and a beta of 0.31. The business’s fifty day simple moving average is $29.55 and its 200 day simple moving average is $29.23.

Bay Commercial Bank (NASDAQ:BCML) last announced its earnings results on Thursday, January 22nd. The company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.65 by ($0.02). Bay Commercial Bank had a net margin of 16.92% and a return on equity of 7.18%. The business had revenue of $0.89 million for the quarter, compared to analyst estimates of $25.03 million. Research analysts predict that Bay Commercial Bank will post 2.48 EPS for the current fiscal year.

Bay Commercial Bank Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 9th. Investors of record on Thursday, March 12th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Thursday, March 12th. This represents a $1.20 dividend on an annualized basis and a yield of 4.1%. Bay Commercial Bank’s dividend payout ratio is currently 55.05%.

Institutional Investors Weigh In On Bay Commercial Bank

Hedge funds and other institutional investors have recently bought and sold shares of the business. UBS Group AG boosted its stake in shares of Bay Commercial Bank by 866.1% during the 3rd quarter. UBS Group AG now owns 160,978 shares of the company’s stock valued at $4,628,000 after buying an additional 144,316 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Bay Commercial Bank by 10.7% in the fourth quarter. Wellington Management Group LLP now owns 1,058,935 shares of the company’s stock worth $31,133,000 after buying an additional 102,666 shares during the last quarter. Alliancebernstein L.P. raised its holdings in Bay Commercial Bank by 7.3% in the third quarter. Alliancebernstein L.P. now owns 483,852 shares of the company’s stock valued at $13,911,000 after acquiring an additional 32,978 shares in the last quarter. Jane Street Group LLC acquired a new stake in Bay Commercial Bank in the first quarter valued at $454,000. Finally, Millennium Management LLC bought a new position in Bay Commercial Bank during the 3rd quarter valued at $429,000. 66.16% of the stock is currently owned by hedge funds and other institutional investors.

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.