Key Points
- Director Michael Perdue bought 2,000 shares of Bay Commercial Bank (NASDAQ:BCML) at $30.94 each, a total purchase of $61,880, according to an SEC filing.
- The company recently reported quarterly EPS of $0.75, beating analyst estimates of $0.62, while analysts currently maintain a Moderate Buy consensus with a $34.00 price target.
- Bay Commercial Bank declared a quarterly dividend of $0.30 per share, equal to a 3.9% annualized yield, with payment scheduled for July 9.
Bay Commercial Bank (NASDAQ:BCML - Get Free Report) Director Michael Perdue bought 2,000 shares of Bay Commercial Bank stock in a transaction dated Friday, May 22nd. The stock was acquired at an average cost of $30.94 per share, for a total transaction of $61,880.00. Following the purchase, the director directly owned 2,000 shares in the company, valued at approximately $61,880. The trade was a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Bay Commercial Bank Stock Performance
Shares of NASDAQ:BCML opened at $30.77 on Wednesday. The company has a market capitalization of $335.67 million, a price-to-earnings ratio of 12.71 and a beta of 0.27. The firm's 50 day simple moving average is $29.72 and its 200 day simple moving average is $29.62. 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 has a fifty-two week low of $25.84 and a fifty-two week high of $33.15.
Bay Commercial Bank (NASDAQ:BCML - Get Free Report) last announced its quarterly earnings results on Thursday, April 23rd. The company reported $0.75 earnings per share for the quarter, beating analysts' consensus estimates of $0.62 by $0.13. The business had revenue of $1.55 million for the quarter, compared to the consensus estimate of $25.95 million. Bay Commercial Bank had a net margin of 18.41% and a return on equity of 7.84%. As a group, sell-side analysts forecast that Bay Commercial Bank will post 2.7 earnings per share for the current year.
Bay Commercial Bank Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, July 9th. Investors of record on Thursday, June 11th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date is Thursday, June 11th. Bay Commercial Bank's dividend payout ratio (DPR) is currently 49.59%.
Analyst Upgrades and Downgrades
A number of brokerages recently weighed in on BCML. Zacks Research downgraded shares of Bay Commercial Bank from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 30th. DA Davidson reiterated a "neutral" rating and issued a $34.00 price target on shares of Bay Commercial Bank in a research report on Tuesday. Brean Capital downgraded shares of Bay Commercial Bank from a "buy" rating to a "neutral" rating in a research report on Friday, April 10th. Finally, Weiss Ratings upgraded shares of Bay Commercial Bank from a "buy (b+)" rating to a "buy (a-)" rating in a research report on Monday, April 20th. One equities research analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, Bay Commercial Bank presently has a consensus rating of "Moderate Buy" and an average price target of $34.00.
Read Our Latest Stock Analysis on Bay Commercial Bank
Institutional Trading of Bay Commercial Bank
Several hedge funds have recently bought and sold shares of the stock. Bank of America Corp DE raised its holdings in Bay Commercial Bank by 23.9% during the 1st quarter. Bank of America Corp DE now owns 14,780 shares of the company's stock worth $439,000 after buying an additional 2,854 shares during the period. Empowered Funds LLC raised its holdings in Bay Commercial Bank by 9.9% during the 1st quarter. Empowered Funds LLC now owns 56,053 shares of the company's stock worth $1,666,000 after buying an additional 5,052 shares during the period. Quantinno Capital Management LP raised its holdings in Bay Commercial Bank by 18.8% during the 1st quarter. Quantinno Capital Management LP now owns 23,389 shares of the company's stock worth $695,000 after buying an additional 3,697 shares during the period. Sei Investments Co. raised its holdings in Bay Commercial Bank by 42.3% during the 1st quarter. Sei Investments Co. now owns 13,793 shares of the company's stock worth $410,000 after buying an additional 4,100 shares during the period. Finally, Assetmark Inc. acquired a new stake in Bay Commercial Bank during the 1st quarter worth approximately $34,000. 66.16% of the stock is currently owned by institutional investors and hedge funds.
Bay Commercial Bank Company Profile
(
Get Free Report)
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.
Further Reading
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