Bay Commercial Bank (NASDAQ:BCML) Stock Price Down 1.3% – Time to Sell?

Bay Commercial Bank (NASDAQ:BCML) shares were down 1.3% on Wednesday . The stock traded as low as $32.88 and last traded at $33.03. Approximately 47,043 shares were traded during mid-day trading, a decline of 53% from the average daily volume of 100,730 shares. The stock had previously closed at $33.46.

Analyst Upgrades and Downgrades

Several brokerages recently commented on BCML. Weiss Ratings raised Bay Commercial Bank from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Tuesday, June 30th. Brean Capital cut Bay Commercial Bank from a “buy” rating to a “neutral” rating in a research note 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, DA Davidson lowered Bay Commercial Bank from a “buy” rating to a “neutral” rating and set a $34.00 price target on the stock. in a research report on Tuesday, May 26th. One research analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $34.00.

Bay Commercial Bank Price Performance

The company’s 50-day moving average price is $31.51 and its 200-day moving average price is $30.20. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.02 and a quick ratio of 1.02. The company has a market cap of $363.74 million, a P/E ratio of 13.78 and a beta of 0.27.

Bay Commercial Bank (NASDAQ:BCML) last posted its quarterly earnings data on Thursday, April 23rd. The company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.62 by $0.13. The business had revenue of $1.54 million for 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 7.84%. As a group, sell-side analysts predict that Bay Commercial Bank will post 2.7 earnings per share for the current fiscal year.

Bay Commercial Bank Dividend Announcement

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

Insider Activity at Bay Commercial Bank

In other news, Director Michael J. Perdue acquired 3,000 shares of Bay Commercial Bank 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 completion of the transaction, the director directly owned 3,000 shares of the company’s stock, valued at approximately $92,820. This represents a ? increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Bay Commercial Bank

Hedge funds and other institutional investors have recently bought and sold shares of the company. UBS Group AG boosted its position in Bay Commercial Bank by 866.1% during the 3rd quarter. UBS Group AG now owns 160,978 shares of the company’s stock worth $4,628,000 after acquiring an additional 144,316 shares during the last quarter. Wellington Management Group LLP grew its stake 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 worth $31,133,000 after acquiring an additional 102,666 shares in the last quarter. Alliancebernstein L.P. raised its holdings 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 valued at $13,911,000 after purchasing 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 valued at approximately $454,000. Finally, Millennium Management LLC bought a new stake in shares of Bay Commercial Bank in the third quarter worth $429,000. Institutional investors and hedge funds 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.