Michael Perdue Acquires 2,000 Shares of Bay Commercial Bank (NASDAQ:BCML) Stock

Bay Commercial Bank (NASDAQ:BCML) Director Michael Perdue purchased 2,000 shares of the business’s stock in a transaction on Friday, May 22nd. The shares were purchased at an average price of $30.94 per share, with a total value of $61,880.00. Following the completion of the purchase, the director owned 2,000 shares in the company, valued at approximately $61,880. This trade represents a ? increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Bay Commercial Bank Stock Performance

Shares of Bay Commercial Bank stock traded down $0.24 during trading hours on Tuesday, reaching $30.77. 95,999 shares of the stock traded hands, compared to its average volume of 34,264. The company has a 50 day moving average price of $29.68 and a 200 day moving average price of $29.60. The firm has a market capitalization of $335.70 million, a price-to-earnings ratio of 12.71 and a beta of 0.27. Bay Commercial Bank has a one year low of $25.84 and a one year high of $33.15. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.02.

Bay Commercial Bank (NASDAQ:BCML) last released its quarterly earnings results on Thursday, April 23rd. The company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.13. The business had revenue of $1.55 million during the quarter, compared to the consensus estimate of $25.95 million. Bay Commercial Bank had a return on equity of 7.84% and a net margin of 18.41%. On average, equities research analysts expect that Bay Commercial Bank will post 2.7 earnings per share for the current fiscal year.

Bay Commercial Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Stockholders of record on Thursday, June 11th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend is Thursday, June 11th. Bay Commercial Bank’s payout ratio is presently 49.59%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Bank of America Corp DE lifted its holdings in 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 worth $439,000 after purchasing an additional 2,854 shares in the last quarter. Empowered Funds LLC lifted its holdings in Bay Commercial Bank by 9.9% in the 1st quarter. Empowered Funds LLC now owns 56,053 shares of the company’s stock worth $1,666,000 after purchasing an additional 5,052 shares in the last quarter. Quantinno Capital Management LP lifted its holdings in Bay Commercial Bank by 18.8% in the 1st quarter. Quantinno Capital Management LP now owns 23,389 shares of the company’s stock worth $695,000 after purchasing an additional 3,697 shares in the last quarter. Sei Investments Co. lifted its holdings in Bay Commercial Bank by 42.3% in the 1st quarter. Sei Investments Co. now owns 13,793 shares of the company’s stock worth $410,000 after purchasing an additional 4,100 shares in the last quarter. Finally, Assetmark Inc. purchased a new position in Bay Commercial Bank in the 1st quarter worth approximately $34,000. 66.16% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on BCML shares. Zacks Research cut Bay Commercial Bank from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. DA Davidson reaffirmed a “neutral” rating and set a $34.00 price objective on shares of Bay Commercial Bank in a research report on Tuesday. Brean Capital cut Bay Commercial Bank from a “buy” rating to a “neutral” rating in a research report on Friday, April 10th. Finally, Weiss Ratings raised Bay Commercial Bank from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday, April 20th. One research analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.00.

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.