Bay Commercial Bank (NASDAQ:BCML) Stock Rating Upgraded by Zacks Research

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

Several other brokerages also recently issued reports on BCML. Benchmark raised shares of Bay Commercial Bank to a “strong-buy” rating in a research report on Wednesday, September 23rd. Wall Street Zen raised shares of Bay Commercial Bank from a “strong sell” rating to a “sell” rating in a research report on Saturday, September 5th. Finally, Weiss Ratings downgraded shares of 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 assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.00.

Bay Commercial Bank Trading Down 0.3%

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

Bay Commercial Bank (NASDAQ:BCML) last posted its earnings results on Thursday, July 23rd. The company reported ($0.64) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($1.28). The company had revenue of $1.49 million during the quarter, compared to analyst estimates of $26.30 million. Bay Commercial Bank had a net margin of 9.20% and a return on equity of 6.98%. Equities analysts forecast that Bay Commercial Bank will post 2.05 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Bay Commercial Bank news, Director Robert Laverne purchased 1,000 shares of the firm’s stock in a transaction dated Thursday, August 20th. The stock was acquired at an average cost of $29.95 per share, with a total value of $29,950.00. Following the acquisition, the director owned 92,628 shares of the company’s stock, valued at approximately $2,774,208.60. This represents a 1.09% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Christopher Baron purchased 8,250 shares of Bay Commercial Bank stock in a transaction dated Monday, August 10th. The shares were purchased at an average cost of $30.39 per share, with a total value of $250,717.50. Following the acquisition, the chief executive officer owned 9,247 shares of the company’s stock, valued at approximately $281,016.33. This trade represents a 827.48% increase in their position. The SEC filing for this purchase provides additional information. Insiders have bought 14,250 shares of company stock worth $431,518 over the last ninety days. 2.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Bay Commercial Bank

A number of institutional investors and hedge funds have recently modified their holdings of the stock. NewEdge Advisors LLC purchased a new position in Bay Commercial Bank during the 2nd quarter worth approximately $269,000. Bank of America Corp DE lifted its stake in shares of Bay Commercial Bank by 23.9% in the 1st quarter. Bank of America Corp DE now owns 14,780 shares of the company’s stock valued at $439,000 after purchasing an additional 2,854 shares during the last quarter. IMC Chicago LLC acquired a new position in Bay Commercial Bank during the second quarter worth $418,000. Empowered Funds LLC lifted its position in shares of Bay Commercial Bank by 9.9% in the first quarter. Empowered Funds LLC now owns 56,053 shares of the company’s stock worth $1,666,000 after buying an additional 5,052 shares during the last quarter. Finally, Quantinno Capital Management LP lifted its stake in shares of Bay Commercial Bank by 18.8% in the first quarter. Quantinno Capital Management LP now owns 23,389 shares of the company’s stock worth $695,000 after buying an additional 3,697 shares during the last quarter. Institutional investors and hedge funds own 66.16% of the company’s stock.

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.