Bay Commercial Bank (NASDAQ:BCML) Stock Rating Raised to “Hold” at Zacks Research

Zacks Research upgraded shares of Bay Commercial Bank (NASDAQ:BCML) from a strong sell rating to a hold rating in a research note published on Monday morning,Zacks reports.

A number of other equities research analysts also recently weighed in on the company. Benchmark raised Bay Commercial Bank to a “strong-buy” rating in a report on Wednesday, September 23rd. Wall Street Zen upgraded Bay Commercial Bank from a “strong sell” rating to a “sell” rating in a research report on Saturday, September 5th. Finally, Weiss Ratings lowered Bay Commercial Bank from a “buy (a-)” rating to a “buy (b-)” rating in a research note on Thursday, August 13th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $34.00.

Bay Commercial Bank Price Performance

Shares of NASDAQ:BCML opened at $30.78 on Monday. The firm has a 50 day moving average of $30.55 and a 200-day moving average of $30.77. Bay Commercial Bank has a 12 month low of $26.78 and a 12 month high of $34.98. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $336.12 million, a PE ratio of 25.65 and a beta of 0.28.

Bay Commercial Bank (NASDAQ:BCML) last posted its quarterly 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 6.98% and a net margin of 9.20%.The firm had revenue of $1.49 million for the quarter, compared to analyst estimates of $26.30 million. On average, equities research analysts predict that Bay Commercial Bank will post 2.05 EPS for the current fiscal year.

Bay Commercial Bank Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 8th. Investors of record on Thursday, September 10th will be given a dividend of $0.30 per share. The ex-dividend date is Thursday, September 10th. This represents a $1.20 dividend on an annualized basis and a yield of 3.9%. Bay Commercial Bank’s payout ratio is currently 100.00%.

Insiders Place Their Bets

In other news, CEO Christopher Baron bought 8,250 shares of the stock in a transaction on Monday, August 10th. The stock was acquired at an average price of $30.39 per share, with a total value of $250,717.50. Following the acquisition, the chief executive officer directly owned 9,247 shares in the company, valued at approximately $281,016.33. This trade represents a 827.48% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert Laverne bought 1,000 shares of the company’s stock in a transaction on Thursday, August 20th. The stock was purchased at an average price of $29.95 per share, with a total value of $29,950.00. Following the completion of the transaction, the director directly owned 92,628 shares of the company’s stock, valued at approximately $2,774,208.60. The trade was a 1.09% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders bought a total of 14,250 shares of company stock valued at $431,518 in the last 90 days. Corporate insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On Bay Commercial Bank

Several institutional investors and hedge funds have recently added to or reduced their stakes in BCML. NewEdge Advisors LLC acquired a new position in Bay Commercial Bank during the 2nd quarter worth about $269,000. IMC Chicago LLC bought a new stake in shares of Bay Commercial Bank in the 2nd quarter valued at $418,000. Bank of America Corp DE lifted its holdings in Bay Commercial Bank by 23.9% in the first quarter. Bank of America Corp DE now owns 14,780 shares of the company’s stock valued at $439,000 after buying an additional 2,854 shares during the period. Empowered Funds LLC raised its holdings in shares of Bay Commercial Bank by 9.9% during the first quarter. Empowered Funds LLC now owns 56,053 shares of the company’s stock valued at $1,666,000 after purchasing an additional 5,052 shares during the period. Finally, Quantinno Capital Management LP lifted its holdings in shares of Bay Commercial Bank by 18.8% in the 1st quarter. Quantinno Capital Management LP now owns 23,389 shares of the company’s stock worth $695,000 after purchasing an additional 3,697 shares in the last quarter. 66.16% of the stock is currently owned by institutional investors and hedge funds.

Bay Commercial Bank Company Profile

BayCom Corp is a bank holding company that operates through its banking subsidiary, United Business Bank. The institution provides commercial banking services to businesses, professionals, nonprofit organizations and individuals, with a focus on relationship-based banking and customized financial solutions.

Its products and services generally include business and commercial real estate loans, construction and industrial financing, lines of credit, equipment financing, deposit accounts, treasury management and online banking.