Bay Commercial Bank (NASDAQ:BCML) Issues Quarterly Earnings Results

Bay Commercial Bank (NASDAQ:BCML) released its quarterly earnings data on Thursday. The company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.13, FiscalAI reports. The company had revenue of $1.55 million during the quarter, compared to analysts’ expectations of $25.95 million. Bay Commercial Bank had a net margin of 18.41% and a return on equity of 7.90%.

Bay Commercial Bank Trading Up 1.4%

Shares of Bay Commercial Bank stock opened at $29.43 on Friday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.03. Bay Commercial Bank has a 12-month low of $25.15 and a 12-month high of $33.15. The firm has a market capitalization of $321.08 million, a price-to-earnings ratio of 12.16 and a beta of 0.29. The firm’s 50 day simple moving average is $29.43 and its two-hundred day simple moving average is $29.22.

Bay Commercial Bank Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 9th. Investors of record on Thursday, March 12th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, March 12th. This represents a $1.20 dividend on an annualized basis and a yield of 4.1%. Bay Commercial Bank’s dividend payout ratio is presently 55.05%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Russell Investments Group Ltd. increased its stake in Bay Commercial Bank by 974.3% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,085 shares of the company’s stock valued at $31,000 after purchasing an additional 984 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in Bay Commercial Bank by 236.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,629 shares of the company’s stock valued at $45,000 after purchasing an additional 1,145 shares in the last quarter. Kestra Advisory Services LLC acquired a new position in Bay Commercial Bank during the 4th quarter valued at approximately $57,000. BNP Paribas Financial Markets increased its stake 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 in the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in Bay Commercial Bank by 119,480.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,979 shares of the company’s stock valued at $166,000 after purchasing an additional 5,974 shares in the last quarter. Institutional investors and hedge funds own 66.16% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Brean Capital cut shares of Bay Commercial Bank from a “buy” rating to a “neutral” rating in a research report on Friday, April 10th. Weiss Ratings raised shares of Bay Commercial Bank from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday. DA Davidson reaffirmed a “buy” rating and issued a $34.00 price target on shares of Bay Commercial Bank in a research report on Friday, April 10th. Finally, Zacks Research cut shares of Bay Commercial Bank from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.00.

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.