Bay Commercial Bank (NASDAQ:BCML) Downgraded to Strong Sell Rating by Zacks Research

Zacks Research cut shares of Bay Commercial Bank (NASDAQ:BCML) from a hold rating to a strong sell rating in a research report sent to investors on Thursday,Zacks.com reports.

Several other research firms have also recently issued reports on BCML. Weiss Ratings upgraded shares of Bay Commercial Bank from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Thursday. Brean Capital lowered Bay Commercial Bank from a “buy” rating to a “neutral” rating in a research report on Friday, April 10th. Finally, DA Davidson cut Bay Commercial Bank from a “buy” rating to a “neutral” rating and set a $34.00 price target for the company. in a report on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $34.00.

Bay Commercial Bank Stock Performance

BCML opened at $30.18 on Thursday. The company has a 50 day simple moving average of $32.22 and a two-hundred day simple moving average of $30.54. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.02 and a quick ratio of 1.02. The firm has a market cap of $329.26 million, a P/E ratio of 25.15 and a beta of 0.27. Bay Commercial Bank has a 1-year low of $26.31 and a 1-year high of $34.98.

Bay Commercial Bank (NASDAQ:BCML) last issued 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 firm had revenue of $1.49 million during the quarter, compared to the consensus estimate of $26.30 million. Equities analysts forecast that Bay Commercial Bank will post 2.29 earnings per share for the current fiscal year.

Bay Commercial Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 9th. Investors of record on Thursday, June 11th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend was Thursday, June 11th. Bay Commercial Bank’s dividend payout ratio is 100.00%.

Insider Buying and Selling at Bay Commercial Bank

In other Bay Commercial Bank news, Director Michael J. Perdue acquired 3,000 shares of the business’s stock in a transaction on Tuesday, May 26th. The shares were bought at an average price of $30.94 per share, with a total value of $92,820.00. Following the transaction, the director directly owned 3,000 shares of the company’s stock, valued at $92,820. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Insiders own 2.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Empowered Funds LLC increased its position in Bay Commercial Bank by 8.2% during the 1st quarter. Empowered Funds LLC now owns 37,226 shares of the company’s stock valued at $937,000 after purchasing an additional 2,827 shares during the period. Jane Street Group LLC purchased a new stake in shares of Bay Commercial Bank during the first quarter valued at about $454,000. Rhumbline Advisers raised its stake in shares of Bay Commercial Bank by 3.5% during the 2nd quarter. Rhumbline Advisers now owns 16,673 shares of the company’s stock worth $462,000 after acquiring an additional 564 shares in the last quarter. Invesco Ltd. purchased a new position in Bay Commercial Bank in the second quarter worth $241,000. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Bay Commercial Bank by 119,480.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,979 shares of the company’s stock worth $166,000 after purchasing an additional 5,974 shares in the last quarter. 66.16% of the stock is currently owned by hedge funds and other institutional investors.

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.