Bay Commercial Bank (NASDAQ:BCML) Downgraded by Zacks Research to Hold

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

Other equities research analysts have also issued reports about the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Bay Commercial Bank in a research note on Wednesday, January 21st. DA Davidson increased their price target on Bay Commercial Bank from $32.00 to $34.00 and gave the company a “buy” rating in a report on Tuesday, January 27th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $34.00.

Bay Commercial Bank Stock Up 0.4%

Shares of NASDAQ:BCML opened at $29.73 on Monday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.03. Bay Commercial Bank has a 12 month low of $22.22 and a 12 month high of $33.15. The company has a 50-day moving average price of $29.61 and a 200 day moving average price of $29.20. The company has a market cap of $324.35 million, a price-to-earnings ratio of 13.64 and a beta of 0.31.

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 the consensus estimate of $0.65 by ($0.02). Bay Commercial Bank had a return on equity of 7.18% 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. As a group, equities research analysts predict that Bay Commercial Bank will post 2.48 earnings per share for the current year.

Bay Commercial Bank Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 9th. Investors of record on Thursday, March 12th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend is Thursday, March 12th. Bay Commercial Bank’s dividend payout ratio is 55.05%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Wellington Management Group LLP grew its stake in shares of Bay Commercial Bank by 10.7% during the fourth quarter. Wellington Management Group LLP now owns 1,058,935 shares of the company’s stock valued at $31,133,000 after buying an additional 102,666 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Bay Commercial Bank by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 608,951 shares of the company’s stock worth $17,507,000 after acquiring an additional 2,233 shares during the last quarter. Alliancebernstein L.P. lifted its stake in shares of Bay Commercial Bank by 7.3% during the 3rd quarter. Alliancebernstein L.P. now owns 483,852 shares of the company’s stock worth $13,911,000 after acquiring an additional 32,978 shares during the last quarter. Geode Capital Management LLC boosted its holdings in 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 acquiring an additional 2,897 shares during the period. Finally, State Street Corp boosted its holdings in Bay Commercial Bank by 1.3% during the 4th quarter. State Street Corp now owns 175,767 shares of the company’s stock valued at $5,220,000 after acquiring an additional 2,339 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.