Bay Commercial Bank (NASDAQ:BCML) Stock Price Down 0.9% – What’s Next?

Bay Commercial Bank (NASDAQ:BCML)’s stock price traded down 0.9% on Wednesday . The stock 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 session volume of 68,303 shares. The stock had previously closed at $31.71.

Analyst Ratings Changes

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

Bay Commercial Bank Stock Performance

The company’s fifty day moving average is $30.46 and its two-hundred day moving average is $30.00. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.02 and a current ratio of 1.02. The company has a market cap of $344.21 million, a price-to-earnings ratio of 13.04 and a beta of 0.27.

Bay Commercial Bank (NASDAQ:BCML) last announced its quarterly earnings data on Thursday, April 23rd. The company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.62 by $0.13. The business had revenue of $1.54 million during the quarter, compared to analysts’ expectations of $25.95 million. Bay Commercial Bank had a net margin of 18.41% and a return on equity of 7.84%. On average, research analysts anticipate that Bay Commercial Bank will post 2.7 EPS for the current year.

Bay Commercial Bank Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 9th. Investors of record on Thursday, June 11th will be given a dividend of $0.30 per share. 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 payout ratio is currently 49.59%.

Insider Buying and Selling

In other Bay Commercial Bank news, Director Michael J. Perdue purchased 3,000 shares of the stock in a transaction on Tuesday, May 26th. The shares were bought at an average cost of $30.94 per share, with a total value of $92,820.00. Following the completion of the acquisition, the director owned 3,000 shares in the company, valued at $92,820. This trade represents a ? increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On Bay Commercial Bank

Several institutional investors and hedge funds have recently modified their holdings of the stock. Russell Investments Group Ltd. grew its holdings in Bay Commercial Bank by 974.3% during the third quarter. Russell Investments Group Ltd. now owns 1,085 shares of the company’s stock worth $31,000 after acquiring an additional 984 shares during the period. Assetmark Inc. acquired a new position in Bay Commercial Bank in the first quarter valued at approximately $34,000. Tower Research Capital LLC TRC lifted its holdings in Bay Commercial Bank by 236.6% in the second quarter. Tower Research Capital LLC TRC now owns 1,629 shares of the company’s stock valued at $45,000 after acquiring an additional 1,145 shares during the period. Kestra Advisory Services LLC purchased a new stake in Bay Commercial Bank in the 4th quarter worth approximately $57,000. Finally, BNP Paribas Financial Markets boosted its position in Bay Commercial Bank by 107.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,173 shares of the company’s stock worth $62,000 after purchasing an additional 1,126 shares in the last quarter. Institutional investors and hedge funds 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.