Bay Commercial Bank (NASDAQ:BCML) Stock Has Average Target Price of $34.00

Bay Commercial Bank (NASDAQ:BCML) has been assigned a consensus recommendation of “Hold” from the five research firms that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $34.00.

Several equities research analysts have recently issued reports on the company. Wall Street Zen upgraded Bay Commercial Bank from a “strong sell” rating to a “sell” rating in a report on Saturday, September 5th. Weiss Ratings downgraded shares of Bay Commercial Bank from a “buy (a-)” rating to a “buy (b-)” rating in a research note on Thursday, August 13th. Benchmark upgraded shares of Bay Commercial Bank to a “strong-buy” rating in a report on Wednesday. Finally, Zacks Research cut shares of Bay Commercial Bank from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 30th.

Insider Activity

In other news, Director Robert Laverne acquired 1,000 shares of the company’s stock in a transaction dated Thursday, August 20th. The stock was acquired at an average cost of $29.95 per share, for a total transaction of $29,950.00. Following the acquisition, the director directly owned 92,628 shares in the company, valued at approximately $2,774,208.60. This represents a 1.09% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Michael Perdue acquired 5,000 shares of the business’s stock in a transaction dated Friday, July 31st. The stock was purchased at an average price of $30.17 per share, for a total transaction of $150,850.00. Following the completion of the acquisition, the director owned 8,000 shares in the company, valued at approximately $241,360. This trade represents a 166.67% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders purchased 14,250 shares of company stock valued at $431,518 in the last ninety days. Company insiders own 2.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. NewEdge Advisors LLC purchased a new stake in Bay Commercial Bank during the second quarter worth approximately $269,000. Bank of America Corp DE increased its position in shares of Bay Commercial Bank by 23.9% in the first quarter. Bank of America Corp DE now owns 14,780 shares of the company’s stock worth $439,000 after acquiring an additional 2,854 shares in the last quarter. IMC Chicago LLC purchased a new position in shares of Bay Commercial Bank in the 2nd quarter valued at $418,000. Empowered Funds LLC raised its stake in shares of Bay Commercial Bank by 9.9% in the 1st quarter. Empowered Funds LLC now owns 56,053 shares of the company’s stock valued at $1,666,000 after acquiring an additional 5,052 shares during the period. Finally, Quantinno Capital Management LP lifted its holdings in shares of Bay Commercial Bank by 18.8% during the 1st quarter. Quantinno Capital Management LP now owns 23,389 shares of the company’s stock valued at $695,000 after acquiring an additional 3,697 shares in the last quarter. 66.16% of the stock is owned by institutional investors and hedge funds.

Bay Commercial Bank Stock Performance

Shares of BCML opened at $30.21 on Friday. Bay Commercial Bank has a 1 year low of $26.78 and a 1 year high of $34.98. The company’s 50 day simple moving average is $30.73 and its 200 day simple moving average is $30.73. The company has a market capitalization of $329.89 million, a price-to-earnings ratio of 25.18 and a beta of 0.28. 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 earnings results on Thursday, July 23rd. The company reported ($0.64) EPS for the quarter, missing the consensus estimate of $0.64 by ($1.28). The firm had revenue of $1.49 million during 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, sell-side analysts predict that Bay Commercial Bank will post 2.05 EPS for the current year.

Bay Commercial Bank Dividend Announcement

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

Bay Commercial Bank Company Profile

BayCom Corp is a bank holding company that operates through its banking subsidiary, United Business Bank. The institution provides commercial banking services to businesses, professionals, nonprofit organizations and individuals, with a focus on relationship-based banking and customized financial solutions.

Its products and services generally include business and commercial real estate loans, construction and industrial financing, lines of credit, equipment financing, deposit accounts, treasury management and online banking.