Bay Commercial Bank (NASDAQ:BCML) Plans $0.30 Quarterly Dividend

Bay Commercial Bank (NASDAQ:BCML) declared a quarterly dividend on Wednesday, August 19th. Stockholders of record on Thursday, September 10th will be given a dividend of 0.30 per share on Thursday, October 8th. This represents a c) dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend is Thursday, September 10th.

Bay Commercial Bank has a payout ratio of 47.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Bay Commercial Bank to earn $2.49 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 48.2%.

Bay Commercial Bank Trading Down 2.2%

BCML stock opened at $30.43 on Thursday. Bay Commercial Bank has a 12 month low of $26.78 and a 12 month high of $34.98. The firm’s 50-day moving average is $32.10 and its 200 day moving average is $30.71. The company has a market capitalization of $332.30 million, a PE ratio of 25.36 and a beta of 0.27. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.04 and a quick ratio of 1.04.

Bay Commercial Bank (NASDAQ:BCML) last issued its earnings results on Thursday, July 23rd. The company reported ($0.64) 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 the consensus estimate of $26.30 million. Bay Commercial Bank had a return on equity of 6.98% and a net margin of 9.20%. On average, research analysts anticipate that Bay Commercial Bank will post 2.29 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Christopher F. Baron bought 8,250 shares of the business’s stock in a transaction on Monday, August 10th. The shares were bought at an average price of $30.39 per share, for a total transaction of $250,717.50. Following the completion of the purchase, the chief executive officer directly owned 9,247 shares of the company’s stock, valued at approximately $281,016.33. This trade represents a 827.48% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael J. Perdue bought 5,000 shares of Bay Commercial Bank stock in a transaction on Friday, July 31st. The stock was purchased at an average price of $30.17 per share, with a total value of $150,850.00. Following the completion of the acquisition, the director directly owned 8,000 shares of the company’s stock, valued at $241,360. This represents a 166.67% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have purchased a total of 18,250 shares of company stock valued at $556,268 over the last 90 days. 2.90% of the stock is currently owned by company insiders.

Institutional Trading of Bay Commercial Bank

A number of institutional investors have recently modified their holdings of the company. Wellington Management Group LLP raised its stake in shares of Bay Commercial Bank by 10.7% during the 4th quarter. Wellington Management Group LLP now owns 1,058,935 shares of the company’s stock worth $31,133,000 after acquiring an additional 102,666 shares in the last quarter. Vanguard Group Inc. boosted its stake in Bay Commercial Bank by 0.4% in the third quarter. Vanguard Group Inc. now owns 608,951 shares of the company’s stock valued at $17,507,000 after acquiring an additional 2,233 shares in the last quarter. Alliancebernstein L.P. grew its holdings in Bay Commercial Bank by 7.3% in 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. State Street Corp grew its holdings in Bay Commercial Bank by 1.3% in the fourth quarter. State Street Corp now owns 175,767 shares of the company’s stock worth $5,220,000 after purchasing an additional 2,339 shares during the last quarter. Finally, UBS Group AG increased 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 in the last quarter. 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.