Bay Commercial Bank (NASDAQ:BCML) Issues Quarterly Earnings Results

Bay Commercial Bank (NASDAQ:BCML) issued its quarterly earnings results on Thursday. The company reported ($0.64) EPS for the quarter, missing the consensus estimate of $0.64 by ($1.28), FiscalAI reports. Bay Commercial Bank had a net margin of 9.20% and a return on equity of 6.96%. The business had revenue of $1.49 million during the quarter, compared to analysts’ expectations of $26.30 million.

Bay Commercial Bank Price Performance

Bay Commercial Bank stock opened at $31.70 on Friday. The stock has a market cap of $345.82 million, a P/E ratio of 26.42 and a beta of 0.27. The company has a fifty day simple moving average of $32.24 and a 200-day simple moving average of $30.48. Bay Commercial Bank has a 12-month low of $26.31 and a 12-month high of $34.98. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.02.

Bay Commercial Bank Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 9th. Stockholders of record on Thursday, June 11th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date was Thursday, June 11th. Bay Commercial Bank’s dividend payout ratio (DPR) is presently 100.00%.

Insider Activity at Bay Commercial Bank

In other Bay Commercial Bank news, Director Michael J. Perdue bought 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The shares were purchased at an average price of $30.94 per share, with a total value of $92,820.00. Following the completion of the acquisition, the director directly owned 3,000 shares of the company’s stock, valued at $92,820. This represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. UBS Group AG increased its holdings in shares of Bay Commercial Bank by 866.1% in the 3rd quarter. UBS Group AG now owns 160,978 shares of the company’s stock valued at $4,628,000 after acquiring an additional 144,316 shares during the last quarter. Wellington Management Group LLP boosted its holdings in 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 valued at $31,133,000 after purchasing an additional 102,666 shares in the last quarter. Alliancebernstein L.P. boosted 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 purchasing an additional 32,978 shares in the last quarter. Jane Street Group LLC purchased a new position in Bay Commercial Bank in the first quarter valued at approximately $454,000. Finally, Millennium Management LLC purchased a new position in Bay Commercial Bank in the third quarter valued at approximately $429,000. 66.16% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently issued reports on BCML shares. DA Davidson cut Bay Commercial Bank from a “buy” rating to a “neutral” rating and set a $34.00 price objective on the stock. in a research note on Tuesday, May 26th. Zacks Research cut Bay Commercial Bank from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. Brean Capital lowered Bay Commercial Bank from a “buy” rating to a “neutral” rating in a research report on Friday, April 10th. Finally, Weiss Ratings cut Bay Commercial Bank from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Wednesday, July 15th. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $34.00.

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.