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

Wall Street Zen upgraded shares of Bay Commercial Bank (NASDAQ:BCML) from a strong sell rating to a sell rating in a research report released on Saturday morning,Wall Street Zen reports.

A number of other brokerages have also issued reports on BCML. Weiss Ratings lowered Bay Commercial Bank from a “buy (a-)” rating to a “buy (b-)” rating in a research report on Thursday, August 13th. Zacks Research cut shares of Bay Commercial Bank from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 30th. Finally, 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 report on Tuesday, May 26th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $34.00.

Bay Commercial Bank Price Performance

NASDAQ BCML opened at $30.80 on Friday. Bay Commercial Bank has a 52 week low of $26.78 and a 52 week high of $34.98. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.09. The stock has a market cap of $336.34 million, a price-to-earnings ratio of 25.67 and a beta of 0.28. The company has a 50-day moving average price of $31.64 and a two-hundred day moving average price of $30.70.

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

Bay Commercial Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 8th. Stockholders of record on Thursday, September 10th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend is Thursday, September 10th. Bay Commercial Bank’s payout ratio is currently 100.00%.

Insider Activity

In other Bay Commercial Bank news, Director Michael J. Perdue purchased 5,000 shares of the company’s stock in a transaction on Friday, July 31st. The shares were purchased at an average cost of $30.17 per share, for a total transaction of $150,850.00. Following the completion of the transaction, the director owned 8,000 shares in the company, valued at $241,360. The trade was a 166.67% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Christopher F. Baron purchased 8,250 shares of the business’s stock in a transaction on Monday, August 10th. The stock was 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. The trade was a 827.48% increase in their position. The SEC filing for this purchase provides additional information. Insiders bought a total of 14,250 shares of company stock worth $431,518 over the last 90 days. 2.90% of the stock is currently owned by company insiders.

Institutional Trading of Bay Commercial Bank

A number of large investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP lifted its position in shares of Bay Commercial Bank by 10.7% during the 4th quarter. Wellington Management Group LLP now owns 1,058,935 shares of the company’s stock valued at $31,133,000 after acquiring an additional 102,666 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Bay Commercial Bank by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 608,951 shares of the company’s stock worth $17,507,000 after acquiring an additional 2,233 shares during the last quarter. Alliancebernstein L.P. grew its holdings in shares of Bay Commercial Bank by 7.3% in the 3rd quarter. Alliancebernstein L.P. now owns 483,852 shares of the company’s stock worth $13,911,000 after acquiring an additional 32,978 shares during the last quarter. State Street Corp raised its position in shares of Bay Commercial Bank by 1.3% during the fourth quarter. State Street Corp now owns 175,767 shares of the company’s stock worth $5,220,000 after purchasing an additional 2,339 shares during the period. Finally, UBS Group AG boosted its position in shares of Bay Commercial Bank by 866.1% in the 3rd quarter. UBS Group AG now owns 160,978 shares of the company’s stock valued at $4,628,000 after purchasing an additional 144,316 shares during the period. 66.16% of the stock is currently owned by institutional investors.

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.