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

Bay Commercial Bank (NASDAQ:BCML) posted its earnings results on Thursday. The company reported ($0.64) EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($1.28), FiscalAI reports. The company had revenue of $1.49 million during the quarter, compared to the consensus estimate of $26.30 million. Bay Commercial Bank had a return on equity of 6.96% and a net margin of 9.20%.

Bay Commercial Bank Trading Down 4.3%

NASDAQ BCML opened at $31.70 on Friday. The firm has a market capitalization of $345.82 million, a PE ratio of 26.42 and a beta of 0.27. The business’s 50-day moving average price is $32.24 and its two-hundred day moving average price is $30.48. 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 12 month low of $26.31 and a 12 month high of $34.98.

Bay Commercial Bank Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 9th. Shareholders of record on Thursday, June 11th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, June 11th. This represents a $1.20 annualized dividend and a yield of 3.8%. Bay Commercial Bank’s payout ratio is presently 100.00%.

Analyst Upgrades and Downgrades

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

Insider Activity at Bay Commercial Bank

In related news, Director Michael J. Perdue bought 3,000 shares of Bay Commercial Bank stock in a transaction that occurred on Tuesday, May 26th. The shares were acquired at an average cost of $30.94 per share, for a total transaction of $92,820.00. Following the completion of the acquisition, the director directly owned 3,000 shares of the company’s stock, valued at approximately $92,820. The trade was a ? increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 2.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Bay Commercial Bank

Hedge funds have recently bought and sold shares of the company. Empowered Funds LLC boosted its position in Bay Commercial Bank by 8.2% during the first quarter. Empowered Funds LLC now owns 37,226 shares of the company’s stock valued at $937,000 after acquiring an additional 2,827 shares during the last quarter. Jane Street Group LLC acquired a new position in shares of Bay Commercial Bank in the 1st quarter valued at about $454,000. Rhumbline Advisers boosted 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 valued at $462,000 after purchasing an additional 564 shares in the last quarter. Invesco Ltd. acquired a new stake in Bay Commercial Bank during the second quarter worth approximately $241,000. Finally, EverSource Wealth Advisors LLC increased its holdings in Bay Commercial Bank by 119,480.0% in the second quarter. EverSource Wealth Advisors LLC now owns 5,979 shares of the company’s stock worth $166,000 after purchasing an additional 5,974 shares in the last quarter. Institutional investors own 66.16% of the company’s stock.

Bay Commercial Bank Company Profile

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.