Bay Commercial Bank $BCML Stake Reduced by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company cut its holdings in shares of Bay Commercial Bank (NASDAQ:BCML) by 7.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 368,510 shares of the company’s stock after selling 29,374 shares during the period. The Manufacturers Life Insurance Company owned approximately 3.38% of Bay Commercial Bank worth $10,954,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in BCML. Wellington Management Group LLP grew its position in 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 last quarter. Vanguard Group Inc. lifted its position in shares of Bay Commercial Bank by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 608,951 shares of the company’s stock valued at $17,507,000 after acquiring an additional 2,233 shares during the last quarter. Alliancebernstein L.P. boosted its stake in shares of Bay Commercial Bank by 7.3% during the 3rd quarter. Alliancebernstein L.P. now owns 483,852 shares of the company’s stock worth $13,911,000 after acquiring an additional 32,978 shares in the last quarter. State Street Corp boosted its stake in shares of Bay Commercial Bank by 1.3% during the 4th quarter. State Street Corp now owns 175,767 shares of the company’s stock worth $5,220,000 after acquiring an additional 2,339 shares in the last quarter. Finally, UBS Group AG boosted its stake in shares of Bay Commercial Bank by 866.1% during the 3rd quarter. UBS Group AG now owns 160,978 shares of the company’s stock worth $4,628,000 after acquiring an additional 144,316 shares in the last quarter. 66.16% of the stock is currently owned by institutional investors.

Bay Commercial Bank Stock Up 1.1%

Shares of Bay Commercial Bank stock opened at $30.50 on Tuesday. The firm has a market cap of $332.75 million, a price-to-earnings ratio of 25.42 and a beta of 0.28. The stock has a 50-day simple moving average of $32.21 and a 200-day simple moving average of $30.57. Bay Commercial Bank has a 52-week low of $26.72 and a 52-week high of $34.98. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.02 and a quick ratio of 1.02.

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

Bay Commercial Bank Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 9th. Stockholders of record on Thursday, June 11th were paid a $0.30 dividend. The ex-dividend date was Thursday, June 11th. This represents a $1.20 annualized dividend and a dividend yield of 3.9%. Bay Commercial Bank’s dividend payout ratio (DPR) is presently 100.00%.

Insider Transactions at Bay Commercial Bank

In related news, Director Michael J. Perdue purchased 5,000 shares of the firm’s stock in a transaction on Friday, July 31st. The shares were bought at an average cost of $30.17 per share, for a total transaction of $150,850.00. Following the transaction, the director directly owned 8,000 shares of the company’s stock, valued at approximately $241,360. This trade represents a 166.67% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders have acquired a total of 10,000 shares of company stock worth $305,550 over the last 90 days. Insiders own 2.90% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on BCML. DA Davidson lowered Bay Commercial Bank from a “buy” rating to a “neutral” rating and set a $34.00 target price on the stock. in a research report on Tuesday, May 26th. Weiss Ratings raised Bay Commercial Bank from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Thursday. Brean Capital downgraded Bay Commercial Bank from a “buy” rating to a “neutral” rating in a report on Friday, April 10th. Finally, Zacks Research downgraded Bay Commercial Bank from a “hold” rating to a “strong sell” rating in a report on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $34.00.

About Bay Commercial Bank

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.