Bay Commercial Bank (NASDAQ:BCML) Upgraded to “Strong-Buy” at Benchmark

by · The Markets Daily

Benchmark upgraded shares of Bay Commercial Bank (NASDAQ:BCML – Free Report) to a strong-buy rating in a report released on Wednesday morning,Zacks reports.

A number of other equities research analysts also recently issued reports on the stock. DA Davidson downgraded shares of Bay Commercial Bank from a “buy” rating to a “neutral” rating and set a $34.00 price objective for the company. in a research report on Tuesday, May 26th. Zacks Research downgraded Bay Commercial Bank from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 30th. Wall Street Zen raised Bay Commercial Bank from a “strong sell” rating to a “sell” rating in a research report on Saturday, September 5th. Finally, Weiss Ratings downgraded shares of Bay Commercial Bank from a “buy (a-)” rating to a “buy (b-)” rating in a report on Thursday, August 13th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $34.00.

Read Our Latest Analysis on Bay Commercial Bank

Bay Commercial Bank Stock Up 1.9%

BCML stock opened at $30.21 on Wednesday. The stock’s 50 day moving average is $30.73 and its 200-day moving average is $30.73. Bay Commercial Bank has a twelve month low of $26.78 and a twelve month high of $34.98. The firm has a market capitalization of $329.89 million, a PE ratio of 25.18 and a beta of 0.28. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.09.

Bay Commercial Bank (NASDAQ:BCML – Get Free Report) last issued its quarterly earnings data on Thursday, July 23rd. The company reported ($0.64) earnings per share for the quarter, missing the consensus estimate of $0.64 by ($1.28). The company had revenue of $1.49 million for the quarter, compared to the consensus estimate of $26.30 million. Bay Commercial Bank had a net margin of 9.20% and a return on equity of 6.98%. Sell-side analysts expect that Bay Commercial Bank will post 2.05 EPS for the current fiscal year.

Bay Commercial Bank Dividend Announcement

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

Insider Transactions at Bay Commercial Bank

In other Bay Commercial Bank news, CEO Christopher F. Baron acquired 8,250 shares of the company’s stock in a transaction on Monday, August 10th. The shares were acquired at an average cost of $30.39 per share, with a total value of $250,717.50. Following the completion of the acquisition, the chief executive officer directly owned 9,247 shares in the company, valued at $281,016.33. This trade represents a 827.48% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael J. Perdue bought 5,000 shares of the business’s stock in a transaction on Friday, July 31st. The shares were acquired at an average price of $30.17 per share, with a total value of $150,850.00. Following the transaction, the director directly owned 8,000 shares of the company’s stock, 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. In the last 90 days, insiders bought 14,250 shares of company stock worth $431,518. 2.90% of the stock is owned by company insiders.

Institutional Trading of Bay Commercial Bank

Several hedge funds and other institutional investors have recently modified their holdings of BCML. NewEdge Advisors LLC bought a new position in Bay Commercial Bank in the 2nd quarter worth approximately $269,000. IMC Chicago LLC bought a new stake in Bay Commercial Bank during the 2nd quarter valued at $418,000. Bank of America Corp DE lifted its position in shares of Bay Commercial Bank by 23.9% during 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. Empowered Funds LLC boosted its holdings in shares of Bay Commercial Bank by 9.9% in the first quarter. Empowered Funds LLC now owns 56,053 shares of the company’s stock worth $1,666,000 after acquiring an additional 5,052 shares during the period. Finally, Quantinno Capital Management LP boosted its holdings in shares of Bay Commercial Bank by 18.8% in the first quarter. Quantinno Capital Management LP now owns 23,389 shares of the company’s stock worth $695,000 after acquiring an additional 3,697 shares during the period. Institutional investors own 66.16% of the company’s stock.

Bay Commercial Bank Company Profile

(Get Free Report)

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.

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