Insider Buying: Bay Commercial Bank (NASDAQ:BCML) Director Purchases 5,000 Shares

Bay Commercial Bank (NASDAQ:BCML) Director Michael Perdue bought 5,000 shares of the business’s stock in a transaction on Friday, July 31st. The shares were bought at an average price of $30.17 per share, for a total transaction of $150,850.00. Following the completion of the acquisition, the director owned 8,000 shares of the company’s stock, valued at approximately $241,360. This represents a 166.67% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website.

Bay Commercial Bank Stock Up 3.3%

Shares of BCML traded up $1.00 during trading hours on Monday, hitting $31.18. 24,043 shares of the company were exchanged, compared to its average volume of 47,804. The company has a market cap of $340.14 million, a PE ratio of 25.85 and a beta of 0.27. The firm’s 50 day moving average is $32.22 and its 200-day moving average is $30.56. Bay Commercial Bank has a 52 week low of $26.72 and a 52 week high of $34.98. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.02 and a current ratio of 1.02.

Bay Commercial Bank (NASDAQ:BCML) last posted its earnings results on Thursday, July 23rd. The company reported ($0.64) earnings per share 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 analyst estimates of $26.30 million. On average, equities research analysts forecast that Bay Commercial Bank will post 2.29 EPS for the current fiscal year.

Bay Commercial Bank Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 9th. Investors of record on Thursday, June 11th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 3.8%. The ex-dividend date was Thursday, June 11th. Bay Commercial Bank’s dividend payout ratio (DPR) is 100.00%.

Hedge Funds Weigh In On Bay Commercial Bank

Large investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. grew its holdings in shares of Bay Commercial Bank by 974.3% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,085 shares of the company’s stock worth $31,000 after purchasing an additional 984 shares in the last quarter. Assetmark Inc. bought a new position in Bay Commercial Bank in the first quarter worth $34,000. Tower Research Capital LLC TRC boosted 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 worth $45,000 after buying an additional 1,145 shares in the last quarter. Kestra Advisory Services LLC bought a new stake in Bay Commercial Bank in the 4th quarter valued at $57,000. Finally, BNP Paribas Financial Markets increased its holdings in Bay Commercial Bank by 107.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,173 shares of the company’s stock valued at $62,000 after buying an additional 1,126 shares during the period. Institutional investors and hedge funds own 66.16% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on BCML shares. DA Davidson lowered Bay Commercial Bank from a “buy” rating to a “neutral” rating and set a $34.00 price objective on the stock. in a research note on Tuesday, May 26th. Brean Capital downgraded Bay Commercial Bank from a “buy” rating to a “neutral” rating in a research report on Friday, April 10th. Weiss Ratings upgraded Bay Commercial Bank from a “buy (b+)” rating to a “buy (a-)” rating in a report on Thursday. Finally, Zacks Research cut Bay Commercial Bank from a “hold” rating to a “strong sell” rating in a research report on Thursday. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target 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.