Bay Commercial Bank (NASDAQ:BCML) Issues Quarterly Earnings Results, Beats Estimates By $0.15 EPS

Bay Commercial Bank (NASDAQ:BCML) announced its earnings results on Thursday. The company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.15, FiscalAI reports. Bay Commercial Bank had a return on equity of 7.18% and a net margin of 16.92%.The company had revenue of $1.55 million for the quarter, compared to analyst estimates of $25.95 million.

Bay Commercial Bank Stock Performance

Shares of BCML traded up $0.22 during mid-day trading on Thursday, reaching $29.01. The company had a trading volume of 33,048 shares, compared to its average volume of 27,704. Bay Commercial Bank has a 52-week low of $25.15 and a 52-week high of $33.15. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $316.47 million, a P/E ratio of 13.31 and a beta of 0.29. The stock has a 50 day moving average of $29.48 and a two-hundred day moving average of $29.22.

Bay Commercial Bank Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 9th. Stockholders of record on Thursday, March 12th were paid a $0.30 dividend. The ex-dividend date was Thursday, March 12th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.1%. Bay Commercial Bank’s dividend payout ratio is presently 55.05%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on BCML shares. Zacks Research lowered Bay Commercial Bank from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. DA Davidson reiterated a “buy” rating and set a $34.00 price target on shares of Bay Commercial Bank in a research note on Friday, April 10th. Brean Capital downgraded Bay Commercial Bank from a “buy” rating to a “neutral” rating in a research note on Friday, April 10th. Finally, Weiss Ratings upgraded Bay Commercial Bank from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $34.00.

Institutional Trading of Bay Commercial Bank

A number of hedge funds have recently modified their holdings of the stock. Rhumbline Advisers boosted its stake in shares of Bay Commercial Bank by 3.5% in the second quarter. Rhumbline Advisers now owns 16,673 shares of the company’s stock worth $462,000 after buying an additional 564 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Bay Commercial Bank by 7.2% in the fourth quarter. Invesco Ltd. now owns 10,667 shares of the company’s stock worth $314,000 after buying an additional 716 shares during the last quarter. Mercer Global Advisors Inc. ADV boosted its stake in shares of Bay Commercial Bank by 3.5% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 23,068 shares of the company’s stock worth $678,000 after buying an additional 771 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Bay Commercial Bank by 3.7% in the second quarter. Ameriprise Financial Inc. now owns 23,639 shares of the company’s stock worth $655,000 after buying an additional 852 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in shares of Bay Commercial Bank by 974.3% in the third quarter. Russell Investments Group Ltd. now owns 1,085 shares of the company’s stock worth $31,000 after buying an additional 984 shares during the last quarter. Hedge funds and other institutional investors own 66.16% of the company’s stock.

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.