Bay Commercial Bank (NASDAQ:BCML) Director Robert Laverne Acquires 1,000 Shares of Stock

Bay Commercial Bank (NASDAQ:BCML) Director Robert Laverne purchased 1,000 shares of Bay Commercial Bank stock in a transaction that occurred on Thursday, August 20th. The stock was acquired at an average cost of $29.95 per share, with a total value of $29,950.00. Following the acquisition, the director directly owned 91,628 shares of the company’s stock, valued at $2,744,258.60. The trade was a 1.10% increase in their position. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink.

Bay Commercial Bank Stock Performance

Bay Commercial Bank stock opened at $30.00 on Friday. The stock has a market cap of $327.60 million, a P/E ratio of 25.00 and a beta of 0.27. The stock has a 50 day moving average of $32.02 and a 200-day moving average of $30.71. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.09. Bay Commercial Bank has a 52 week low of $26.78 and a 52 week high of $34.98.

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

Bay Commercial Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 8th. Stockholders of record on Thursday, September 10th will be issued a dividend of $0.30 per share. The ex-dividend date is Thursday, September 10th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.0%. Bay Commercial Bank’s dividend payout ratio (DPR) is currently 100.00%.

Hedge Funds Weigh In On Bay Commercial Bank

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BCML. UBS Group AG lifted its position in Bay Commercial Bank by 866.1% during the 3rd quarter. UBS Group AG now owns 160,978 shares of the company’s stock worth $4,628,000 after buying an additional 144,316 shares in the last quarter. Wellington Management Group LLP raised its holdings in 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 worth $31,133,000 after acquiring an additional 102,666 shares in the last quarter. Alliancebernstein L.P. boosted its position in Bay Commercial Bank by 7.3% during 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 during the last quarter. Jane Street Group LLC bought a new position in Bay Commercial Bank in the first quarter valued at approximately $454,000. Finally, Millennium Management LLC acquired a new position in shares of Bay Commercial Bank during the 3rd quarter worth approximately $429,000. Institutional investors own 66.16% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on BCML. Weiss Ratings lowered Bay Commercial Bank from a “buy (a-)” rating to a “buy (b-)” rating in a research note on Thursday, August 13th. Wall Street Zen lowered shares of Bay Commercial Bank from a “hold” rating to a “strong sell” rating in a report on Saturday, August 15th. Zacks Research downgraded Bay Commercial Bank from a “hold” rating to a “strong sell” rating in a report on Thursday, July 30th. Finally, DA Davidson cut Bay Commercial Bank from a “buy” rating to a “neutral” rating and set a $34.00 target price for the company. in a research note on Tuesday, May 26th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $34.00.

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.