Bay Commercial Bank (NASDAQ:BCML) Stock Price Up 1.2% – Here’s Why

Bay Commercial Bank (NASDAQ:BCML)’s share price rose 1.2% on Tuesday . The stock traded as high as $30.67 and last traded at $30.54. Approximately 76,903 shares traded hands during mid-day trading, an increase of 60% from the average daily volume of 47,936 shares. The stock had previously closed at $30.18.

Wall Street Analysts Forecast Growth

BCML has been the topic of several analyst reports. DA Davidson reissued a “buy” rating and issued a $34.00 price objective on shares of Bay Commercial Bank in a research note on Tuesday, April 28th. Weiss Ratings raised shares of Bay Commercial Bank from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday, April 20th. Zacks Research cut shares of Bay Commercial Bank from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. Finally, Brean Capital cut shares of Bay Commercial Bank from a “buy” rating to a “neutral” rating in a research report on Friday, April 10th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Bay Commercial Bank presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.00.

Bay Commercial Bank Stock Up 1.2%

The company has a market cap of $333.19 million, a P/E ratio of 12.62 and a beta of 0.27. The stock’s 50-day moving average price is $29.51 and its 200-day moving average price is $29.50. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.02.

Bay Commercial Bank (NASDAQ:BCML) last released its quarterly earnings data on Thursday, April 23rd. The company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.13. Bay Commercial Bank had a net margin of 18.41% and a return on equity of 7.84%. The company had revenue of $1.55 million for the quarter, compared to analysts’ expectations of $25.95 million. As a group, research analysts forecast that Bay Commercial Bank will post 2.7 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. increased its stake in Bay Commercial Bank by 974.3% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,085 shares of the company’s stock valued at $31,000 after buying an additional 984 shares during the last quarter. Assetmark Inc. bought a new position in shares of Bay Commercial Bank in the first quarter valued at approximately $34,000. Tower Research Capital LLC TRC increased its position in shares of 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 acquiring an additional 1,145 shares during the last quarter. Kestra Advisory Services LLC purchased a new stake in shares of Bay Commercial Bank during the fourth quarter valued at approximately $57,000. Finally, BNP Paribas Financial Markets lifted its holdings in 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 acquiring an additional 1,126 shares during the period. 66.16% of the stock is currently owned by hedge funds and other 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.