Bay Commercial Bank (NASDAQ:BCML) Director Purchases $150,850.00 in Stock

Bay Commercial Bank (NASDAQ:BCML) Director Michael Perdue bought 5,000 shares of the firm’s stock in a transaction on Friday, July 31st. The stock was acquired at an average cost of $30.17 per share, with a total value of $150,850.00. Following the transaction, the director owned 8,000 shares in the company, valued at $241,360. The trade was a 166.67% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Bay Commercial Bank Stock Performance

Shares of NASDAQ BCML opened at $30.71 on Thursday. The firm’s 50-day moving average price is $32.21 and its 200-day moving average price is $30.60. Bay Commercial Bank has a 52-week low of $26.72 and a 52-week high of $34.98. The company has a market cap of $335.02 million, a PE ratio of 25.59 and a beta of 0.27. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.02.

Bay Commercial Bank (NASDAQ:BCML) last issued its earnings results 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 6.96% and a net margin of 9.20%.The company had revenue of $1.49 million during the quarter, compared to analysts’ expectations of $26.30 million. As a group, analysts anticipate that Bay Commercial Bank will post 2.29 EPS for the current year.

Bay Commercial Bank Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 9th. Stockholders of record on Thursday, June 11th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, June 11th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.9%. Bay Commercial Bank’s payout ratio is presently 100.00%.

Institutional Trading of Bay Commercial Bank

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Rhumbline Advisers increased its stake in Bay Commercial Bank by 3.5% in the 2nd quarter. Rhumbline Advisers now owns 16,673 shares of the company’s stock worth $462,000 after acquiring an additional 564 shares during the last quarter. Invesco Ltd. boosted its position in shares of Bay Commercial Bank by 7.2% during the 4th quarter. Invesco Ltd. now owns 10,667 shares of the company’s stock valued at $314,000 after acquiring an additional 716 shares during the last quarter. Mercer Global Advisors Inc. ADV boosted its position in shares of Bay Commercial Bank by 3.5% during the 4th 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 during the last quarter. LSV Asset Management grew its holdings in shares of Bay Commercial Bank by 0.9% in the fourth quarter. LSV Asset Management now owns 87,211 shares of the company’s stock valued at $2,564,000 after purchasing an additional 800 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in shares of Bay Commercial Bank by 3.7% in the second quarter. Ameriprise Financial Inc. now owns 23,639 shares of the company’s stock valued at $655,000 after purchasing an additional 852 shares in the last quarter. 66.16% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

BCML has been the topic of several recent analyst reports. DA Davidson downgraded shares of 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. Zacks Research lowered Bay Commercial Bank from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 30th. Brean Capital cut Bay Commercial Bank from a “buy” rating to a “neutral” rating in a report on Friday, April 10th. Finally, Weiss Ratings upgraded Bay Commercial Bank from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $34.00.

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.