Bay Commercial Bank (NASDAQ:BCML) Posts Quarterly Earnings Results, Beats Expectations By $0.13 EPS

Bay Commercial Bank (NASDAQ:BCML) released its quarterly earnings data on Thursday. The company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.13, FiscalAI reports. The firm had revenue of $1.55 million during the quarter, compared to the consensus estimate of $25.95 million. Bay Commercial Bank had a return on equity of 7.18% and a net margin of 16.92%.

Bay Commercial Bank Stock Performance

Shares of Bay Commercial Bank stock opened at $29.01 on Friday. The company has a market capitalization of $316.50 million, a PE ratio of 13.31 and a beta of 0.29. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.03 and a current ratio of 1.03. The company has a 50-day simple moving average of $29.45 and a two-hundred day simple moving average of $29.21. Bay Commercial Bank has a one year low of $25.15 and a one year high of $33.15.

Bay Commercial Bank Dividend Announcement

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

Wall Street Analyst Weigh In

Several analysts recently weighed in on BCML shares. DA Davidson restated a “buy” rating and issued a $34.00 price objective on shares of Bay Commercial Bank in a report on Friday, April 10th. Brean Capital downgraded Bay Commercial Bank from a “buy” rating to a “neutral” rating in a report on Friday, April 10th. Zacks Research downgraded Bay Commercial Bank from a “strong-buy” rating to a “hold” rating in a report on Monday, March 30th. Finally, Weiss Ratings upgraded Bay Commercial Bank from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday. One equities research 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 company. Based on data from MarketBeat, Bay Commercial Bank presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.00.

Hedge Funds Weigh In On Bay Commercial Bank

A number of large investors have recently added to or reduced their stakes in the company. Rhumbline Advisers increased its holdings in shares of Bay Commercial Bank by 3.5% during the second quarter. Rhumbline Advisers now owns 16,673 shares of the company’s stock valued at $462,000 after acquiring an additional 564 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Bay Commercial Bank by 7.2% during the fourth quarter. Invesco Ltd. now owns 10,667 shares of the company’s stock valued at $314,000 after acquiring an additional 716 shares in the last quarter. Mercer Global Advisors Inc. ADV increased its holdings in shares of Bay Commercial Bank by 3.5% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 23,068 shares of the company’s stock valued at $678,000 after acquiring an additional 771 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in shares of Bay Commercial Bank by 3.7% during the second quarter. Ameriprise Financial Inc. now owns 23,639 shares of the company’s stock valued at $655,000 after acquiring an additional 852 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its holdings in shares of Bay Commercial Bank by 974.3% during the third quarter. Russell Investments Group Ltd. now owns 1,085 shares of the company’s stock valued at $31,000 after acquiring an additional 984 shares in the last quarter. 66.16% of the stock is currently owned by institutional investors.

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.