Zacks Research Upgrades Bay Commercial Bank (NASDAQ:BCML) to Hold

Bay Commercial Bank (NASDAQ:BCML) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued on Monday, Zacks reports.

Several other equities analysts have also issued reports on the company. Weiss Ratings lowered Bay Commercial Bank from a “buy (a-)” rating to a “buy (b-)” rating in a research note on Thursday, August 13th. Wall Street Zen raised shares of Bay Commercial Bank from a “strong sell” rating to a “sell” rating in a research note on Saturday, September 5th. Finally, Benchmark upgraded shares of Bay Commercial Bank to a “strong-buy” rating in a report on Wednesday, September 23rd. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.00.

Bay Commercial Bank Stock Performance

Shares of BCML stock opened at $30.78 on Monday. The firm has a market capitalization of $336.12 million, a price-to-earnings ratio of 25.65 and a beta of 0.28. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.09. The business’s 50-day moving average price is $30.55 and its 200-day moving average price is $30.77. Bay Commercial Bank has a 12 month low of $26.78 and a 12 month high of $34.98.

Bay Commercial Bank (NASDAQ:BCML) last announced its earnings results on Thursday, July 23rd. The company reported ($0.64) earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $1.49 million for the quarter, compared to the consensus estimate of $26.30 million. Equities research analysts forecast that Bay Commercial Bank will post 2.05 EPS for the current year.

Insiders Place Their Bets

In other Bay Commercial Bank news, Director Robert G. Laverne bought 1,000 shares of the firm’s stock in a transaction dated Thursday, August 20th. The stock was bought at an average cost of $29.95 per share, with a total value of $29,950.00. Following the completion of the transaction, the director directly owned 92,628 shares in the company, valued at approximately $2,774,208.60. The trade was a 1.09% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Michael J. Perdue bought 5,000 shares of the stock in a transaction that occurred on Friday, July 31st. The stock was acquired at an average price of $30.17 per share, for a total transaction of $150,850.00. Following the acquisition, the director directly owned 8,000 shares in the company, valued at $241,360. The trade was a 166.67% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders have acquired 14,250 shares of company stock worth $431,518. Insiders own 2.90% of the company’s stock.

Institutional Trading of Bay Commercial Bank

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. NewEdge Advisors LLC purchased a new stake in shares of Bay Commercial Bank in the second quarter worth approximately $269,000. IMC Chicago LLC purchased a new position in shares of Bay Commercial Bank during the second quarter valued at approximately $418,000. Bank of America Corp DE grew its holdings in Bay Commercial Bank by 23.9% during the first quarter. Bank of America Corp DE now owns 14,780 shares of the company’s stock worth $439,000 after buying an additional 2,854 shares in the last quarter. Empowered Funds LLC raised its position in Bay Commercial Bank by 9.9% in the 1st quarter. Empowered Funds LLC now owns 56,053 shares of the company’s stock valued at $1,666,000 after buying an additional 5,052 shares during the last quarter. Finally, Quantinno Capital Management LP boosted its holdings in Bay Commercial Bank by 18.8% during the 1st quarter. Quantinno Capital Management LP now owns 23,389 shares of the company’s stock worth $695,000 after acquiring an additional 3,697 shares during the last quarter. 66.16% of the stock is owned by institutional investors.

Bay Commercial Bank Company Profile

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.