Bay Commercial Bank (NASDAQ:BCML) Trading 2.7% Higher – Still a Buy?

Shares of Bay Commercial Bank (NASDAQ:BCML) shot up 2.7% on Monday . The stock traded as high as $30.00 and last traded at $29.61. 27,463 shares changed hands during mid-day trading, a decline of 3% from the average session volume of 28,451 shares. The stock had previously closed at $28.82.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on BCML. Zacks Research upgraded shares of Bay Commercial Bank from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 2nd. Weiss Ratings reissued a “buy (b)” rating on shares of Bay Commercial Bank in a research note on Wednesday, January 21st. Finally, DA Davidson boosted their price target on shares of Bay Commercial Bank from $32.00 to $34.00 and gave the stock a “buy” rating in a research report on Tuesday, January 27th. One analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $34.00.

Bay Commercial Bank Stock Down 0.7%

The stock has a market capitalization of $317.26 million, a P/E ratio of 13.43 and a beta of 0.31. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.03 and a quick ratio of 1.03. The stock’s fifty day moving average is $29.57 and its two-hundred day moving average is $29.22.

Bay Commercial Bank (NASDAQ:BCML) last posted its quarterly earnings results on Thursday, January 22nd. The company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.65 by ($0.02). Bay Commercial Bank had a net margin of 16.92% and a return on equity of 7.18%. The company had revenue of $0.89 million during the quarter, compared to the consensus estimate of $25.03 million. As a group, research analysts predict that Bay Commercial Bank will post 2.48 earnings per share for the current fiscal year.

Bay Commercial Bank Dividend Announcement

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

Institutional Investors Weigh In On Bay Commercial Bank

Several hedge funds have recently modified their holdings of BCML. Invesco Ltd. increased its stake in 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 purchasing an additional 716 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its holdings in Bay Commercial Bank by 3.5% during the 4th 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 period. Empowered Funds LLC lifted its stake in Bay Commercial Bank by 10.7% during the fourth quarter. Empowered Funds LLC now owns 51,001 shares of the company’s stock valued at $1,499,000 after buying an additional 4,930 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Bay Commercial Bank by 10.7% in the fourth quarter. Wellington Management Group LLP now owns 1,058,935 shares of the company’s stock worth $31,133,000 after buying an additional 102,666 shares during the period. Finally, Bridgeway Capital Management LLC boosted its holdings in shares of Bay Commercial Bank by 5.7% in the fourth quarter. Bridgeway Capital Management LLC now owns 91,814 shares of the company’s stock worth $2,699,000 after buying an additional 4,930 shares during the period. 66.16% of the stock is owned by hedge funds and other 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.