Bay Commercial Bank (NASDAQ:BCML) Posts Quarterly Earnings Results, Misses Estimates By $0.32 EPS

Bay Commercial Bank (NASDAQ:BCML) released its quarterly earnings results on Thursday. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.32), Zacks reports. Bay Commercial Bank had a net margin of 18.41% and a return on equity of 7.84%.

Bay Commercial Bank Stock Down 0.4%

NASDAQ BCML traded down $0.13 on Thursday, reaching $33.17. The stock had a trading volume of 49,209 shares, compared to its average volume of 47,120. The business has a 50 day moving average price of $32.15 and a 200 day moving average price of $30.44. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.02. Bay Commercial Bank has a 1 year low of $26.31 and a 1 year high of $34.98. The company has a market capitalization of $361.88 million, a price-to-earnings ratio of 13.71 and a beta of 0.27.

Bay Commercial Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 9th. Investors of record on Thursday, June 11th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, June 11th. This represents a $1.20 dividend on an annualized basis and a yield of 3.6%. Bay Commercial Bank’s dividend payout ratio (DPR) is presently 49.59%.

Insiders Place Their Bets

In other news, Director Michael J. Perdue purchased 3,000 shares of the business’s stock in a transaction dated Tuesday, May 26th. The stock was bought at an average cost of $30.94 per share, with a total value of $92,820.00. Following the purchase, the director directly owned 3,000 shares of the company’s stock, valued at approximately $92,820. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Bay Commercial Bank

A number of hedge funds have recently added to or reduced their stakes in BCML. UBS Group AG boosted its holdings in Bay Commercial Bank by 866.1% in the third quarter. UBS Group AG now owns 160,978 shares of the company’s stock worth $4,628,000 after purchasing 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 valued at $31,133,000 after buying an additional 102,666 shares in the last quarter. Alliancebernstein L.P. lifted its position in shares of Bay Commercial Bank by 7.3% in the third quarter. Alliancebernstein L.P. now owns 483,852 shares of the company’s stock worth $13,911,000 after buying an additional 32,978 shares during the last quarter. Jane Street Group LLC acquired a new stake in shares of Bay Commercial Bank in the first quarter worth about $454,000. Finally, Millennium Management LLC bought a new stake in shares of Bay Commercial Bank during the 3rd quarter worth about $429,000. Institutional investors and hedge funds own 66.16% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on BCML shares. Brean Capital lowered shares of Bay Commercial Bank from a “buy” rating to a “neutral” rating in a research note on Friday, April 10th. Zacks Research downgraded shares of Bay Commercial Bank from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. DA Davidson lowered Bay Commercial Bank from a “buy” rating to a “neutral” rating and set a $34.00 target price for the company. in a report on Tuesday, May 26th. Finally, Weiss Ratings cut Bay Commercial Bank from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Wednesday, July 15th. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Bay Commercial Bank presently has an average rating of “Hold” and a consensus price target 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.