Key Points
- CEO Christopher Baron purchased 8,250 BCML shares at an average price of $30.39, investing approximately $250,718 and increasing his direct stake by 827.48% to 9,247 shares.
- Bay Commercial Bank reported weak quarterly results, with a loss of $0.64 per share versus expectations for $0.64 in earnings and revenue of $1.49 million versus a $26.30 million consensus estimate.
- The stock recently traded at $31.25 and offers a quarterly dividend of $0.30, or $1.20 annually, representing a 3.8% yield; analysts’ consensus rating is Hold with a $34 price target.
Bay Commercial Bank (NASDAQ:BCML - Get Free Report) CEO Christopher Baron purchased 8,250 shares of the stock in a transaction dated Monday, August 10th. The shares were purchased at an average price of $30.39 per share, with a total value of $250,717.50. Following the transaction, the chief executive officer directly owned 9,247 shares of the company's stock, valued at approximately $281,016.33. The trade was a 827.48% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Bay Commercial Bank Stock Up 2.8%
BCML stock opened at $31.25 on Wednesday. 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 has a fifty-two week low of $26.78 and a fifty-two week high of $34.98. The firm's 50-day simple moving average is $32.20 and its 200 day simple moving average is $30.64. The stock has a market cap of $340.91 million, a PE ratio of 26.04 and a beta of 0.28.
Bay Commercial Bank (NASDAQ:BCML - Get Free Report) 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). Bay Commercial Bank had a return on equity of 6.96% and a net margin of 9.20%.The firm had revenue of $1.49 million during the quarter, compared to the consensus estimate of $26.30 million. As a group, sell-side analysts predict that Bay Commercial Bank will post 2.29 EPS for the current year.
Bay Commercial Bank Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 9th. Investors of record on Thursday, June 11th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend was Thursday, June 11th. Bay Commercial Bank's dividend payout ratio is 100.00%.
Wall Street Analyst Weigh In
Several brokerages have weighed in on BCML. DA Davidson downgraded Bay Commercial Bank from a "buy" rating to a "neutral" rating and set a $34.00 target price on the stock. in a research note 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, July 30th. Finally, Zacks Research lowered Bay Commercial Bank from a "hold" rating to a "strong sell" rating in a report on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, two have issued 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.
Read Our Latest Stock Report on BCML
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in the stock. Russell Investments Group Ltd. increased its stake in shares of Bay Commercial Bank by 974.3% during the third quarter. Russell Investments Group Ltd. now owns 1,085 shares of the company's stock valued at $31,000 after acquiring an additional 984 shares during the period. Assetmark Inc. acquired a new stake in Bay Commercial Bank in the first quarter worth approximately $34,000. Tower Research Capital LLC TRC lifted its position in Bay Commercial Bank by 236.6% in the second quarter. Tower Research Capital LLC TRC now owns 1,629 shares of the company's stock worth $45,000 after purchasing an additional 1,145 shares during the period. Kestra Advisory Services LLC acquired a new stake in Bay Commercial Bank in the fourth quarter worth approximately $57,000. Finally, BNP Paribas Financial Markets boosted its stake in Bay Commercial Bank by 107.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,173 shares of the company's stock valued at $62,000 after purchasing an additional 1,126 shares in the last quarter. 66.16% of the stock is currently owned by institutional investors.
About Bay Commercial Bank
(
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.
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