Bay Commercial Bank (NASDAQ:BCML) Stock Rating Lowered by DA Davidson

Bay Commercial Bank (NASDAQ:BCML) was downgraded by equities research analysts at DA Davidson from a “buy” rating to a “neutral” rating in a report issued on Tuesday. They presently have a $34.00 target price on the stock. DA Davidson’s price target would indicate a potential upside of 9.64% from the company’s current price.

Other research analysts also recently issued reports about the stock. Weiss Ratings raised shares of Bay Commercial Bank from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday, April 20th. Zacks Research downgraded shares of Bay Commercial Bank from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. Finally, Brean Capital lowered shares of Bay Commercial Bank from a “buy” rating to a “neutral” rating in a research report on Friday, April 10th. One investment analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Bay Commercial Bank presently has a consensus rating of “Moderate Buy” and an average target price of $34.00.

Bay Commercial Bank Stock Performance

Shares of Bay Commercial Bank stock opened at $31.01 on Tuesday. Bay Commercial Bank has a 1 year low of $25.84 and a 1 year high of $33.15. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.02 and a current ratio of 1.02. The company has a market capitalization of $338.32 million, a P/E ratio of 12.81 and a beta of 0.27. The company’s fifty day moving average is $29.68 and its two-hundred day moving average is $29.60.

Bay Commercial Bank (NASDAQ:BCML) last issued its quarterly earnings data on Thursday, April 23rd. The company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.13. Bay Commercial Bank had a net margin of 18.41% and a return on equity of 7.84%. The company had revenue of $1.55 million for the quarter, compared to the consensus estimate of $25.95 million. Analysts forecast that Bay Commercial Bank will post 2.7 earnings per share for the current year.

Hedge Funds Weigh In On Bay Commercial Bank

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. UBS Group AG grew its stake in 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 acquiring an additional 144,316 shares during the last quarter. Wellington Management Group LLP grew its stake in Bay Commercial Bank by 10.7% in 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. Alliancebernstein L.P. grew its stake in Bay Commercial Bank by 7.3% in the 3rd quarter. Alliancebernstein L.P. now owns 483,852 shares of the company’s stock valued at $13,911,000 after acquiring an additional 32,978 shares during the last quarter. Jane Street Group LLC acquired a new stake in Bay Commercial Bank in the 1st quarter valued at about $454,000. Finally, Millennium Management LLC acquired a new stake in Bay Commercial Bank in the 3rd quarter valued at about $429,000. 66.16% of the stock is currently owned by hedge funds and other 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.