Bay Commercial Bank (NASDAQ:BCML) Lowered to Strong Sell Rating by Zacks Research

Bay Commercial Bank (NASDAQ:BCML) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Thursday,Zacks.com reports.

BCML has been the subject of several other research reports. Weiss Ratings upgraded Bay Commercial Bank from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Thursday. Brean Capital lowered shares of Bay Commercial Bank from a “buy” rating to a “neutral” rating in a report on Friday, April 10th. Finally, DA Davidson lowered shares of Bay Commercial Bank from a “buy” rating to a “neutral” rating and set a $34.00 price target on the stock. in a report on Tuesday, May 26th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $34.00.

Bay Commercial Bank Price Performance

Shares of Bay Commercial Bank stock opened at $30.18 on Thursday. Bay Commercial Bank has a 52-week low of $26.31 and a 52-week high of $34.98. The stock has a market capitalization of $329.26 million, a price-to-earnings ratio of 25.15 and a beta of 0.27. The company has a fifty day moving average of $32.22 and a 200-day moving average of $30.54. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.02 and a current ratio of 1.02.

Bay Commercial Bank (NASDAQ:BCML) last announced its quarterly earnings data on Thursday, July 23rd. The company reported ($0.64) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($1.28). Bay Commercial Bank had a net margin of 9.20% and a return on equity of 6.96%. The company had revenue of $1.49 million for the quarter, compared to the consensus estimate of $26.30 million. Equities research analysts expect that Bay Commercial Bank will post 2.29 EPS for the current year.

Insider Buying and Selling

In related news, Director Michael J. Perdue bought 3,000 shares of the company’s stock in a transaction dated Tuesday, May 26th. The stock was purchased at an average cost of $30.94 per share, with a total value of $92,820.00. Following the transaction, the director owned 3,000 shares in the company, valued at approximately $92,820. This trade represents a ? increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On Bay Commercial Bank

A number of institutional investors have recently bought and sold shares of the stock. Rhumbline Advisers boosted its position in Bay Commercial Bank by 3.5% during the 2nd quarter. Rhumbline Advisers now owns 16,673 shares of the company’s stock valued at $462,000 after acquiring an additional 564 shares in the last quarter. Invesco Ltd. raised its position in shares of Bay Commercial Bank by 7.2% in the 4th quarter. Invesco Ltd. now owns 10,667 shares of the company’s stock worth $314,000 after acquiring an additional 716 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its position in shares of Bay Commercial Bank by 3.5% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 23,068 shares of the company’s stock worth $678,000 after acquiring an additional 771 shares in the last quarter. LSV Asset Management lifted its stake in shares of Bay Commercial Bank by 0.9% in the 4th quarter. LSV Asset Management now owns 87,211 shares of the company’s stock valued at $2,564,000 after purchasing an additional 800 shares during the period. Finally, Ameriprise Financial Inc. boosted its position in shares of Bay Commercial Bank by 3.7% during the second quarter. Ameriprise Financial Inc. now owns 23,639 shares of the company’s stock valued at $655,000 after purchasing an additional 852 shares in the last quarter. 66.16% of the stock is 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.