Bay Commercial Bank (NASDAQ:BCML) Shares Down 0.9% – Here’s Why

Bay Commercial Bank (NASDAQ:BCML) was down 0.9% during trading on Wednesday . The company traded as low as $31.34 and last traded at $31.43. Approximately 114,079 shares traded hands during trading, an increase of 67% from the average daily volume of 68,303 shares. The stock had previously closed at $31.71.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on BCML shares. DA Davidson downgraded Bay Commercial Bank from a “buy” rating to a “neutral” rating and set a $34.00 target price for the company. in a research report on Tuesday, May 26th. Brean Capital downgraded Bay Commercial Bank from a “buy” rating to a “neutral” rating in a research report on Friday, April 10th. Weiss Ratings downgraded Bay Commercial Bank from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Monday. Finally, Zacks Research downgraded Bay Commercial Bank from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $34.00.

Bay Commercial Bank Stock Performance

The company has a market capitalization of $342.90 million, a P/E ratio of 12.99 and a beta of 0.27. The business has a 50-day moving average of $30.43 and a 200-day moving average of $29.98. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.02 and a quick ratio of 1.02.

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 company had revenue of $1.55 million during the quarter, compared to the consensus estimate of $25.95 million. Bay Commercial Bank had a return on equity of 7.84% and a net margin of 18.41%. On average, sell-side analysts anticipate that Bay Commercial Bank will post 2.7 EPS for the current year.

Bay Commercial Bank Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 9th. Investors 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 yield of 3.8%. Bay Commercial Bank’s dividend payout ratio (DPR) is currently 49.59%.

Insider Transactions at Bay Commercial Bank

In related news, Director Michael J. Perdue purchased 3,000 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was bought at an average cost of $30.94 per share, for a total transaction of $92,820.00. Following the completion of the transaction, the director directly owned 3,000 shares in the company, valued at $92,820. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 2.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Bay Commercial Bank

A number of institutional investors have recently bought and sold shares of BCML. UBS Group AG lifted its position in shares of Bay Commercial Bank by 866.1% during the third quarter. UBS Group AG now owns 160,978 shares of the company’s stock worth $4,628,000 after purchasing an additional 144,316 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Bay Commercial Bank by 10.7% during the fourth quarter. Wellington Management Group LLP now owns 1,058,935 shares of the company’s stock worth $31,133,000 after purchasing an additional 102,666 shares during the last quarter. Alliancebernstein L.P. lifted its position in shares of Bay Commercial Bank by 7.3% during the third quarter. Alliancebernstein L.P. now owns 483,852 shares of the company’s stock worth $13,911,000 after purchasing an additional 32,978 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of Bay Commercial Bank during the first quarter worth $454,000. Finally, Millennium Management LLC bought a new stake in shares of Bay Commercial Bank during the third quarter worth $429,000. 66.16% of the stock is currently owned by 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.