Michael Perdue Buys 5,000 Shares of Bay Commercial Bank (NASDAQ:BCML) Stock

Bay Commercial Bank (NASDAQ:BCML) Director Michael Perdue purchased 5,000 shares of the firm’s stock in a transaction that occurred on Friday, July 31st. The stock was bought at an average cost of $30.17 per share, with a total value of $150,850.00. Following the completion of the purchase, the director owned 8,000 shares of the company’s stock, valued at $241,360. This represents a 166.67% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Bay Commercial Bank Stock Performance

Bay Commercial Bank stock opened at $30.96 on Wednesday. The stock’s 50 day simple moving average is $32.22 and its two-hundred day simple moving average is $30.59. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.02 and a current ratio of 1.02. The stock has a market cap of $337.77 million, a price-to-earnings ratio of 25.80 and a beta of 0.27. Bay Commercial Bank has a fifty-two week low of $26.72 and a fifty-two week high of $34.98.

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

Bay Commercial Bank Announces Dividend

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

Analyst Ratings Changes

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Empowered Funds LLC boosted its stake in Bay Commercial Bank by 8.2% in the 1st quarter. Empowered Funds LLC now owns 37,226 shares of the company’s stock worth $937,000 after purchasing an additional 2,827 shares during the period. Jane Street Group LLC purchased a new position in shares of Bay Commercial Bank in the first quarter worth $454,000. Rhumbline Advisers boosted its position in shares of Bay Commercial Bank by 3.5% during the second quarter. Rhumbline Advisers now owns 16,673 shares of the company’s stock worth $462,000 after acquiring an additional 564 shares during the last quarter. Invesco Ltd. bought a new position in shares of Bay Commercial Bank during the second quarter worth $241,000. Finally, EverSource Wealth Advisors LLC grew its stake in Bay Commercial Bank by 119,480.0% during the second quarter. EverSource Wealth Advisors LLC now owns 5,979 shares of the company’s stock valued at $166,000 after acquiring an additional 5,974 shares in the last quarter. 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.