Bay Commercial Bank (NASDAQ:BCML) Upgraded at Wall Street Zen

by · The Markets Daily

Wall Street Zen upgraded shares of Bay Commercial Bank (NASDAQ:BCML – Free Report) from a sell rating to a hold rating in a research note issued to investors on Sunday morning.

A number of other research firms also recently commented on BCML. Weiss Ratings reiterated a “buy (b)” rating on shares of Bay Commercial Bank in a research note on Wednesday, October 8th. DA Davidson reaffirmed a “buy” rating and set a $32.00 price target on shares of Bay Commercial Bank in a research report on Tuesday, October 28th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $31.50.

Read Our Latest Stock Report on Bay Commercial Bank

Bay Commercial Bank Price Performance

Shares of NASDAQ BCML opened at $29.55 on Friday. Bay Commercial Bank has a fifty-two week low of $22.22 and a fifty-two week high of $30.96. The business has a 50 day moving average price of $28.21 and a two-hundred day moving average price of $28.05. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.03. The firm has a market cap of $322.10 million, a PE ratio of 14.07 and a beta of 0.55.

Bay Commercial Bank (NASDAQ:BCML – Get Free Report) last announced its earnings results on Thursday, October 23rd. The company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.06). Bay Commercial Bank had a net margin of 16.51% and a return on equity of 7.04%. The business had revenue of $1.51 million during the quarter, compared to analyst estimates of $23.67 million. Sell-side analysts expect that Bay Commercial Bank will post 2.48 earnings per share for the current fiscal year.

Bay Commercial Bank Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 9th. Stockholders of record on Thursday, December 11th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date is Thursday, December 11th. This is an increase from Bay Commercial Bank’s previous quarterly dividend of $0.25. Bay Commercial Bank’s payout ratio is 47.62%.

Institutional Investors Weigh In On Bay Commercial Bank

A number of institutional investors have recently modified their holdings of the business. PNC Financial Services Group Inc. lifted its holdings in Bay Commercial Bank by 29.8% in the first quarter. PNC Financial Services Group Inc. now owns 1,749 shares of the company’s stock worth $44,000 after acquiring an additional 402 shares during the last quarter. Rhumbline Advisers raised its position in shares of Bay Commercial Bank by 3.5% during the 2nd quarter. Rhumbline Advisers now owns 16,673 shares of the company’s stock worth $462,000 after purchasing an additional 564 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of Bay Commercial Bank by 3.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 23,639 shares of the company’s stock worth $655,000 after purchasing an additional 852 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Bay Commercial Bank by 974.3% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,085 shares of the company’s stock worth $31,000 after purchasing an additional 984 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its position in Bay Commercial Bank by 107.5% during the 3rd 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 period. Institutional investors own 66.16% of the company’s stock.

Bay Commercial Bank Company Profile

(Get Free Report)

BayCom Corp operates as the bank holding company for United Business Bank that provides various financial services to small and mid-sized businesses, service professionals, and individuals. The company provides demand, savings, money market, and time deposit accounts. It offers commercial and multifamily real estate loans, including owner-occupied and investor real estate loans; commercial and industrial loans, such as equipment loans and working capital lines of credit; small business administration loans; construction and land loans; agriculture-related loans; and consumer loans comprising installment loans, unsecured and secured personal lines of credit, and overdraft protection.

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