Bay Commercial Bank (NASDAQ:BCML) Stock Price Down 1.3% – Should You Sell?

Shares of Bay Commercial Bank (NASDAQ:BCML) fell 1.3% during mid-day trading on Wednesday . The stock traded as low as $32.88 and last traded at $33.03. Approximately 47,043 shares were traded during trading, a decline of 53% from the average daily volume of 100,730 shares. The stock had previously closed at $33.46.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Brean Capital cut Bay Commercial Bank from a “buy” rating to a “neutral” rating in a research note on Friday, April 10th. DA Davidson cut shares of Bay Commercial Bank from a “buy” rating to a “neutral” rating and set a $34.00 price target on the stock. in a research report on Tuesday, May 26th. Weiss Ratings raised shares of Bay Commercial Bank from a “buy (b+)” rating to a “buy (a-)” rating in a report on Tuesday, June 30th. 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 analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Bay Commercial Bank currently has an average rating of “Moderate Buy” and a consensus price target of $34.00.

Bay Commercial Bank Price Performance

The company has a market cap of $360.36 million, a P/E ratio of 13.65 and a beta of 0.27. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.02 and a quick ratio of 1.02. The company has a fifty day simple moving average of $31.43 and a 200-day simple moving average of $30.19.

Bay Commercial Bank (NASDAQ:BCML) last issued its earnings results on Thursday, April 23rd. The company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.13. The business had revenue of $1.54 million for the quarter, compared to analysts’ expectations of $25.95 million. Bay Commercial Bank had a return on equity of 7.84% and a net margin of 18.41%. On average, sell-side analysts predict that Bay Commercial Bank will post 2.7 earnings per share for the current year.

Bay Commercial Bank Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 9th. Investors of record on Thursday, June 11th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Thursday, June 11th. This represents a $1.20 dividend on an annualized basis and a yield of 3.6%. Bay Commercial Bank’s dividend payout ratio (DPR) is currently 49.59%.

Insider Transactions at Bay Commercial Bank

In other news, Director Michael J. Perdue acquired 3,000 shares of Bay Commercial Bank stock in a transaction on Tuesday, May 26th. The stock was bought at an average cost of $30.94 per share, with a total value of $92,820.00. Following the completion of the purchase, the director owned 3,000 shares of the company’s stock, valued at $92,820. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 2.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in BCML. Empowered Funds LLC lifted its position in shares of Bay Commercial Bank by 8.2% in the 1st quarter. Empowered Funds LLC now owns 37,226 shares of the company’s stock valued at $937,000 after acquiring an additional 2,827 shares in the last quarter. Jane Street Group LLC acquired a new stake in Bay Commercial Bank during the 1st quarter valued at $454,000. Rhumbline Advisers raised its stake in Bay Commercial Bank by 3.5% during the 2nd quarter. Rhumbline Advisers now owns 16,673 shares of the company’s stock valued at $462,000 after purchasing an additional 564 shares during the period. Invesco Ltd. purchased a new stake in shares of Bay Commercial Bank in the second quarter valued at $241,000. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Bay Commercial Bank by 119,480.0% in the second quarter. EverSource Wealth Advisors LLC now owns 5,979 shares of the company’s stock worth $166,000 after buying an additional 5,974 shares during the period. 66.16% of the stock is owned by hedge funds and other institutional investors.

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.