Bay Commercial Bank (NASDAQ:BCML) to Issue Quarterly Dividend of $0.30

Bay Commercial Bank (NASDAQ:BCML) declared a quarterly dividend on Wednesday, August 19th. Shareholders of record on Thursday, September 10th will be given a dividend of 0.30 per share on Thursday, October 8th. This represents a c) dividend on an annualized basis and a yield of 3.9%. The ex-dividend date is Thursday, September 10th.

Bay Commercial Bank has a payout ratio of 47.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Bay Commercial Bank to earn $2.49 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 48.2%.

Bay Commercial Bank Price Performance

Shares of NASDAQ:BCML opened at $30.43 on Thursday. Bay Commercial Bank has a one year low of $26.78 and a one year high of $34.98. The stock has a market capitalization of $332.30 million, a price-to-earnings ratio of 25.36 and a beta of 0.27. The company has a 50-day simple moving average of $32.10 and a 200-day simple moving average of $30.71. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.04 and a current ratio of 1.04.

Bay Commercial Bank (NASDAQ:BCML) last released its quarterly earnings results on Thursday, July 23rd. The company reported ($0.64) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($1.28). The company had revenue of $1.49 million for the quarter, compared to analysts’ expectations of $26.30 million. Bay Commercial Bank had a return on equity of 6.98% and a net margin of 9.20%. On average, analysts predict that Bay Commercial Bank will post 2.29 EPS for the current year.

Insiders Place Their Bets

In related news, Director Michael J. Perdue purchased 5,000 shares of the stock in a transaction dated Friday, July 31st. The shares were acquired at an average cost of $30.17 per share, with a total value of $150,850.00. Following the purchase, the director directly owned 8,000 shares in the company, valued at $241,360. This trade represents a 166.67% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Christopher F. Baron purchased 8,250 shares of the stock in a transaction dated Monday, August 10th. The shares were bought at an average cost of $30.39 per share, for a total transaction of $250,717.50. Following the completion of the purchase, the chief executive officer owned 9,247 shares in the company, valued at approximately $281,016.33. This trade represents a 827.48% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have purchased 18,250 shares of company stock worth $556,268 in the last ninety days. 2.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in BCML. Russell Investments Group Ltd. grew its stake in Bay Commercial Bank by 974.3% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,085 shares of the company’s stock valued at $31,000 after acquiring an additional 984 shares during the last quarter. Assetmark Inc. acquired a new position in Bay Commercial Bank during the first quarter worth about $34,000. Tower Research Capital LLC TRC lifted its holdings in shares of Bay Commercial Bank by 236.6% in the second quarter. Tower Research Capital LLC TRC now owns 1,629 shares of the company’s stock valued at $45,000 after purchasing an additional 1,145 shares in the last quarter. Kestra Advisory Services LLC purchased a new stake in shares of Bay Commercial Bank in the fourth quarter valued at about $57,000. Finally, BNP Paribas Financial Markets grew its position in shares of Bay Commercial Bank by 107.5% in the third quarter. BNP Paribas Financial Markets now owns 2,173 shares of the company’s stock valued at $62,000 after purchasing an additional 1,126 shares during the last quarter. Institutional investors and hedge funds own 66.16% of the company’s stock.

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.