Bay Commercial Bank (NASDAQ:BCML) Raised to “Strong-Buy” at Benchmark

Bay Commercial Bank (NASDAQ:BCML) was upgraded by Benchmark to a “strong-buy” rating in a research report issued to clients and investors on Wednesday, Zacks reports.

Other equities analysts also recently issued reports about the stock. Wall Street Zen upgraded shares of Bay Commercial Bank from a “strong sell” rating to a “sell” rating in a research note on Saturday, September 5th. Weiss Ratings downgraded shares of Bay Commercial Bank from a “buy (a-)” rating to a “buy (b-)” rating in a report on Thursday, August 13th. Zacks Research cut shares of Bay Commercial Bank from a “hold” rating to a “strong sell” rating in a report on Thursday, July 30th. Finally, DA Davidson downgraded shares of Bay Commercial Bank from a “buy” rating to a “neutral” rating and set a $34.00 price target for the company. in a research report on Tuesday, May 26th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Bay Commercial Bank presently has a consensus rating of “Hold” and an average price target of $34.00.

Bay Commercial Bank Trading Up 1.9%

Shares of BCML stock opened at $30.21 on Wednesday. Bay Commercial Bank has a 12-month low of $26.78 and a 12-month high of $34.98. The company has a market capitalization of $329.89 million, a PE ratio of 25.18 and a beta of 0.28. The firm has a 50 day moving average price of $30.73 and a two-hundred day moving average price of $30.73. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.09.

Bay Commercial Bank (NASDAQ:BCML) last posted its earnings results on Thursday, July 23rd. The company reported ($0.64) EPS for the quarter, missing the consensus estimate of $0.64 by ($1.28). The firm had revenue of $1.49 million during the quarter, compared to analyst estimates of $26.30 million. Bay Commercial Bank had a net margin of 9.20% and a return on equity of 6.98%. As a group, analysts predict that Bay Commercial Bank will post 2.05 earnings per share for the current year.

Insider Buying and Selling at Bay Commercial Bank

In other news, CEO Christopher Baron acquired 8,250 shares of the stock in a transaction on Monday, August 10th. The stock was acquired at an average cost of $30.39 per share, for a total transaction of $250,717.50. Following the completion of the transaction, the chief executive officer directly owned 9,247 shares in the company, valued at approximately $281,016.33. This trade represents a 827.48% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Michael Perdue bought 5,000 shares of the business’s stock in a transaction on Friday, July 31st. The shares were acquired at an average price of $30.17 per share, with a total value of $150,850.00. Following the completion of the purchase, the director directly owned 8,000 shares of the company’s stock, valued at approximately $241,360. The trade was a 166.67% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders bought a total of 14,250 shares of company stock worth $431,518 over the last three months. Corporate insiders own 2.90% of the company’s stock.

Institutional Trading of Bay Commercial Bank

Several institutional investors and hedge funds have recently modified their holdings of BCML. NewEdge Advisors LLC acquired a new position in Bay Commercial Bank during the second quarter worth about $269,000. Bank of America Corp DE boosted 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 purchasing an additional 2,854 shares in the last quarter. IMC Chicago LLC acquired a new stake in shares of Bay Commercial Bank in the 2nd quarter valued at approximately $418,000. Empowered Funds LLC grew its holdings in shares of Bay Commercial Bank by 9.9% during the 1st quarter. Empowered Funds LLC now owns 56,053 shares of the company’s stock valued at $1,666,000 after purchasing an additional 5,052 shares during the last quarter. Finally, Quantinno Capital Management LP grew its holdings in shares of Bay Commercial Bank by 18.8% during the 1st quarter. Quantinno Capital Management LP now owns 23,389 shares of the company’s stock valued at $695,000 after purchasing an additional 3,697 shares during the last quarter. 66.16% of the stock is currently owned by institutional investors.

About Bay Commercial Bank

BayCom Corp is a bank holding company that operates through its banking subsidiary, United Business Bank. The institution provides commercial banking services to businesses, professionals, nonprofit organizations and individuals, with a focus on relationship-based banking and customized financial solutions.

Its products and services generally include business and commercial real estate loans, construction and industrial financing, lines of credit, equipment financing, deposit accounts, treasury management and online banking.