Bay Commercial Bank (NASDAQ:BCML) Announces Quarterly Earnings Results, Misses Expectations By $0.46 EPS

Bay Commercial Bank (NASDAQ:BCML) announced its quarterly earnings data on Thursday. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.46), FiscalAI reports. Bay Commercial Bank had a net margin of 9.20% and a return on equity of 6.98%. The firm had revenue of $18.73 million for the quarter, compared to analyst estimates of $26.08 million.

Bay Commercial Bank Stock Performance

NASDAQ BCML traded up $0.77 during trading hours on Thursday, hitting $31.90. The company had a trading volume of 133,325 shares, compared to its average volume of 50,777. Bay Commercial Bank has a fifty-two week low of $26.78 and a fifty-two week high of $34.98. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.09. The business has a fifty day simple moving average of $30.49 and a 200-day simple moving average of $30.97. The firm has a market cap of $348.35 million, a P/E ratio of 26.58 and a beta of 0.32.

Bay Commercial Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 8th. Investors of record on Thursday, September 10th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date was Thursday, September 10th. Bay Commercial Bank’s dividend payout ratio is presently 100.00%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on BCML. Benchmark upgraded Bay Commercial Bank to a “strong-buy” rating in a research report on Wednesday, September 23rd. Wall Street Zen upgraded Bay Commercial Bank from a “strong sell” rating to a “sell” rating in a research note on Saturday, September 5th. Weiss Ratings downgraded shares of Bay Commercial Bank from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, October 9th. Finally, Zacks Research raised shares of Bay Commercial Bank from a “strong sell” rating to a “hold” rating in a report on Monday, September 28th. One equities research analyst has rated the stock with a Strong Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $34.00.

Insider Transactions at Bay Commercial Bank

In other news, Director Robert Laverne acquired 1,000 shares of the business’s stock in a transaction that occurred on Thursday, August 20th. The shares were purchased at an average cost of $29.95 per share, for a total transaction of $29,950.00. Following the transaction, the director directly owned 92,628 shares in the company, valued at $2,774,208.60. This trade represents a 1.09% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael Perdue acquired 5,000 shares of the business’s stock in a transaction that occurred on Friday, July 31st. The stock was purchased at an average price of $30.17 per share, for a total transaction of $150,850.00. Following the completion of the transaction, the director owned 8,000 shares in the company, valued at $241,360. The trade was a 166.67% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders bought 14,250 shares of company stock worth $431,518. Insiders own 2.90% of the company’s stock.

Bay Commercial Bank Company Profile

BayCom Corp. is the bank holding company for Bay Community Bank, a community banking institution formerly known as Bay Commercial Bank. Headquartered in Walnut Creek, California, the bank focuses on serving small and midsized businesses, professionals, nonprofit organizations and individuals in Northern California.

Bay Community Bank provides commercial and consumer banking services, including business loans, commercial real estate financing, construction and equipment loans, residential real estate loans, lines of credit, and consumer lending.