Insider Buying: Bay Commercial Bank (NASDAQ:BCML) Director Acquires $29,950.00 in Stock

Bay Commercial Bank (NASDAQ:BCML) Director Robert Laverne bought 1,000 shares of the company’s stock in a transaction on Thursday, August 20th. The shares were bought at an average price of $29.95 per share, for a total transaction of $29,950.00. Following the transaction, the director owned 91,628 shares of the company’s stock, valued at approximately $2,744,258.60. This represents a 1.10% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Bay Commercial Bank Trading Down 0.3%

Shares of NASDAQ:BCML traded down $0.10 on Friday, reaching $29.97. 27,878 shares of the company traded hands, compared to its average volume of 48,513. The stock has a market capitalization of $327.27 million, a P/E ratio of 24.98 and a beta of 0.27. The business’s 50-day simple moving average is $32.06 and its 200 day simple moving average is $30.72. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.09. Bay Commercial Bank has a 52 week low of $26.78 and a 52 week high of $34.98.

Bay Commercial Bank (NASDAQ:BCML) last released its earnings results on Thursday, July 23rd. The company reported ($0.64) earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($1.28). Bay Commercial Bank had a return on equity of 6.98% and a net margin of 9.20%.The business had revenue of $1.49 million during the quarter, compared to analysts’ expectations of $26.30 million. As a group, equities analysts anticipate that Bay Commercial Bank will post 2.29 EPS for the current fiscal year.

Bay Commercial Bank Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 8th. Shareholders of record on Thursday, September 10th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $1.20 annualized dividend and a yield of 4.0%. Bay Commercial Bank’s payout ratio is 100.00%.

Hedge Funds Weigh In On Bay Commercial Bank

Several institutional investors have recently bought and sold shares of BCML. Russell Investments Group Ltd. lifted 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 worth $31,000 after purchasing an additional 984 shares in the last quarter. Assetmark Inc. purchased a new position in Bay Commercial Bank during the 1st quarter valued at approximately $34,000. Tower Research Capital LLC TRC increased its stake in Bay Commercial Bank by 236.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,629 shares of the company’s stock worth $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 4th quarter worth approximately $57,000. Finally, BNP Paribas Financial Markets boosted its position in shares of Bay Commercial Bank by 107.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,173 shares of the company’s stock valued at $62,000 after acquiring an additional 1,126 shares during the last quarter. 66.16% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BCML has been the topic of several analyst reports. Weiss Ratings cut Bay Commercial Bank from a “buy (a-)” rating to a “buy (b-)” rating in a research report on Thursday, August 13th. DA Davidson cut Bay Commercial Bank from a “buy” rating to a “neutral” rating and set a $34.00 price objective on the stock. in a research report on Tuesday, May 26th. Wall Street Zen lowered Bay Commercial Bank from a “hold” rating to a “strong sell” rating in a research report on Saturday, August 15th. Finally, Zacks Research lowered shares of Bay Commercial Bank from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 30th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Bay Commercial Bank presently has an average rating of “Hold” and an average price target of $34.00.

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.