Zacks Research Downgrades Bay Commercial Bank (NASDAQ:BCML) to Hold

Bay Commercial Bank (NASDAQ:BCML) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

Several other equities analysts have also recently commented on BCML. Weiss Ratings reiterated a “buy (b)” rating on shares of Bay Commercial Bank in a research note on Wednesday, January 21st. DA Davidson upped their price target on shares of Bay Commercial Bank from $32.00 to $34.00 and gave the company a “buy” rating in a report on Tuesday, January 27th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, Bay Commercial Bank currently has an average rating of “Moderate Buy” and a consensus target price of $34.00.

Bay Commercial Bank Stock Performance

NASDAQ:BCML opened at $29.73 on Monday. The firm has a 50-day moving average of $29.61 and a two-hundred day moving average of $29.20. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a market cap of $324.35 million, a P/E ratio of 13.64 and a beta of 0.31. Bay Commercial Bank has a 1-year low of $22.22 and a 1-year high of $33.15.

Bay Commercial Bank (NASDAQ:BCML) last announced its earnings results on Thursday, January 22nd. The company reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.02). Bay Commercial Bank had a return on equity of 7.18% and a net margin of 16.92%.The business had revenue of $0.89 million for the quarter, compared to analysts’ expectations of $25.03 million. On average, research analysts expect that Bay Commercial Bank will post 2.48 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Bay Commercial Bank

Several large investors have recently added to or reduced their stakes in BCML. Russell Investments Group Ltd. boosted its holdings in Bay Commercial Bank by 974.3% in the third quarter. Russell Investments Group Ltd. now owns 1,085 shares of the company’s stock worth $31,000 after purchasing an additional 984 shares during the period. Tower Research Capital LLC TRC increased its stake in Bay Commercial Bank by 236.6% during the second quarter. Tower Research Capital LLC TRC now owns 1,629 shares of the company’s stock valued at $45,000 after purchasing an additional 1,145 shares during the last quarter. Kestra Advisory Services LLC acquired a new stake in shares of Bay Commercial Bank during the fourth quarter worth $57,000. BNP Paribas Financial Markets raised its holdings in shares of Bay Commercial Bank by 107.5% during the third quarter. BNP Paribas Financial Markets now owns 2,173 shares of the company’s stock worth $62,000 after purchasing an additional 1,126 shares during the period. Finally, PNC Financial Services Group Inc. lifted its position in shares of Bay Commercial Bank by 12.3% in the 3rd quarter. PNC Financial Services Group Inc. now owns 4,337 shares of the company’s stock worth $125,000 after buying an additional 475 shares during 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.