Insider Buying: Bay Commercial Bank (NASDAQ:BCML) Director Purchases $61,880.00 in Stock

Bay Commercial Bank (NASDAQ:BCML) Director Michael Perdue purchased 2,000 shares of the business’s stock in a transaction on Friday, May 22nd. The shares were bought at an average cost of $30.94 per share, for a total transaction of $61,880.00. Following the purchase, the director owned 2,000 shares of the company’s stock, valued at $61,880. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link.

Bay Commercial Bank Stock Performance

NASDAQ:BCML opened at $31.05 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.02. The company has a market cap of $338.76 million, a P/E ratio of 12.83 and a beta of 0.27. Bay Commercial Bank has a fifty-two week low of $25.84 and a fifty-two week high of $33.15. The firm’s 50 day moving average is $29.80 and its two-hundred day moving average is $29.67.

Bay Commercial Bank (NASDAQ:BCML) last posted its quarterly earnings results on Thursday, April 23rd. The company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.13. The company had revenue of $1.55 million for the quarter, compared to the consensus estimate of $25.95 million. Bay Commercial Bank had a net margin of 18.41% and a return on equity of 7.84%. Analysts expect that Bay Commercial Bank will post 2.7 EPS for the current year.

Bay Commercial Bank Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Stockholders of record on Thursday, June 11th will be given a $0.30 dividend. The ex-dividend date of this dividend is Thursday, June 11th. This represents a $1.20 annualized dividend and a dividend yield of 3.9%. Bay Commercial Bank’s dividend payout ratio is presently 49.59%.

Wall Street Analyst Weigh In

BCML has been the subject of several recent research reports. Brean Capital lowered shares of Bay Commercial Bank from a “buy” rating to a “neutral” rating in a research report on Friday, April 10th. Weiss Ratings raised shares of Bay Commercial Bank from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday, April 20th. DA Davidson lowered shares of Bay Commercial Bank from a “buy” rating to a “neutral” rating and set a $34.00 price objective for the company. in a research report on Tuesday. Finally, Zacks Research lowered shares of Bay Commercial Bank from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. One equities research analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Bay Commercial Bank presently has an average rating of “Moderate Buy” and a consensus price target of $34.00.

Institutional Investors Weigh In On Bay Commercial Bank

A number of large investors have recently added to or reduced their stakes in BCML. Empowered Funds LLC grew its holdings in Bay Commercial Bank by 8.2% during the 1st 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 in the last quarter. Jane Street Group LLC acquired a new position in Bay Commercial Bank during the 1st quarter worth $454,000. Rhumbline Advisers grew its holdings in Bay Commercial Bank by 3.5% during the 2nd quarter. Rhumbline Advisers now owns 16,673 shares of the company’s stock worth $462,000 after acquiring an additional 564 shares in the last quarter. Invesco Ltd. acquired a new position in Bay Commercial Bank during the 2nd quarter worth $241,000. Finally, EverSource Wealth Advisors LLC grew its holdings in 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 worth $166,000 after acquiring an additional 5,974 shares in the last quarter. 66.16% of the stock is owned by institutional investors and hedge funds.

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.