Michael Perdue Acquires 3,000 Shares of Bay Commercial Bank (NASDAQ:BCML) Stock

Bay Commercial Bank (NASDAQ:BCML) Director Michael Perdue purchased 3,000 shares of the company’s stock in a transaction dated Tuesday, May 26th. The stock was purchased at an average price of $30.94 per share, for a total transaction of $92,820.00. Following the transaction, the director directly owned 3,000 shares in the company, valued at approximately $92,820. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Bay Commercial Bank Trading Down 0.8%

Shares of NASDAQ BCML traded down $0.24 during midday trading on Tuesday, reaching $30.77. The stock had a trading volume of 95,999 shares, compared to its average volume of 34,264. The firm has a market cap of $335.70 million, a price-to-earnings ratio of 12.71 and a beta of 0.27. Bay Commercial Bank has a twelve month low of $25.84 and a twelve month high of $33.15. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.02 and a current ratio of 1.02. The company’s 50 day moving average price is $29.68 and its 200 day moving average price is $29.60.

Bay Commercial Bank (NASDAQ:BCML) last issued its quarterly earnings results 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. The firm had revenue of $1.55 million for the quarter, compared to the consensus estimate of $25.95 million. Bay Commercial Bank had a net margin of 18.41% and a return on equity of 7.84%. As a group, sell-side analysts expect that Bay Commercial Bank will post 2.7 EPS for the current year.

Bay Commercial Bank Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 9th. Stockholders of record on Thursday, June 11th will be given a $0.30 dividend. The ex-dividend date is Thursday, June 11th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.9%. Bay Commercial Bank’s payout ratio is 49.59%.

Analysts Set New Price Targets

BCML has been the topic of a number of recent analyst reports. Brean Capital downgraded shares of Bay Commercial Bank from a “buy” rating to a “neutral” rating in a research report on Friday, April 10th. Weiss Ratings upgraded shares of Bay Commercial Bank from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday, April 20th. DA Davidson reiterated a “neutral” rating and issued a $34.00 price objective on shares of Bay Commercial Bank in a research note on Tuesday. Finally, Zacks Research lowered shares of Bay Commercial Bank from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. One equities research analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, Bay Commercial Bank currently has an average rating of “Moderate Buy” and a consensus target price of $34.00.

Institutional Trading of Bay Commercial Bank

Several hedge funds have recently modified their holdings of the stock. Bank of America Corp DE increased 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 acquiring an additional 2,854 shares in the last quarter. Empowered Funds LLC increased its stake in shares of Bay Commercial Bank by 9.9% in the 1st quarter. Empowered Funds LLC now owns 56,053 shares of the company’s stock valued at $1,666,000 after acquiring an additional 5,052 shares in the last quarter. Quantinno Capital Management LP increased its stake 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 valued at $695,000 after acquiring an additional 3,697 shares in the last quarter. Sei Investments Co. increased its stake in shares of Bay Commercial Bank by 42.3% in the 1st quarter. Sei Investments Co. now owns 13,793 shares of the company’s stock valued at $410,000 after acquiring an additional 4,100 shares in the last quarter. Finally, Assetmark Inc. bought a new stake in shares of Bay Commercial Bank in the 1st quarter valued at $34,000. Institutional investors own 66.16% of the company’s stock.

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.