Key Points
- Director Robert Laverne purchased 1,000 BCML shares at an average price of $29.95, investing $29,950 and increasing his direct ownership by 1.10% to 91,628 shares.
- Bay Commercial Bank shares opened at $30.00, with a market capitalization of $327.6 million; the stock has traded between $26.78 and $34.98 over the past year.
- The bank declared a quarterly dividend of $0.30, equivalent to a $1.20 annualized payout and a 4.0% yield. Analysts’ average rating is “Hold,” with a consensus price target of $34.00, while recent earnings missed estimates.
Bay Commercial Bank (NASDAQ:BCML - Get Free Report) Director Robert Laverne bought 1,000 shares of the business's stock in a transaction that occurred on Thursday, August 20th. The stock was purchased at an average price of $29.95 per share, with a total value of $29,950.00. Following the completion of the purchase, the director directly owned 91,628 shares in the company, valued at $2,744,258.60. The trade was a 1.10% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Bay Commercial Bank Stock Performance
Shares of NASDAQ BCML opened at $30.00 on Friday. Bay Commercial Bank has a 12 month low of $26.78 and a 12 month high of $34.98. The stock has a 50 day moving average of $32.02 and a 200-day moving average of $30.71. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $327.60 million, a P/E ratio of 25.00 and a beta of 0.27.
Bay Commercial Bank (NASDAQ:BCML - Get Free Report) last issued its quarterly earnings data on Thursday, July 23rd. The company reported ($0.64) earnings per share for the quarter, missing the consensus estimate of $0.64 by ($1.28). The company had revenue of $1.49 million during the quarter, compared to the consensus estimate of $26.30 million. Bay Commercial Bank had a net margin of 9.20% and a return on equity of 6.98%. As a group, equities research analysts predict that Bay Commercial Bank will post 2.29 EPS for the current year.
Bay Commercial Bank Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 8th. Investors of record on Thursday, September 10th will be paid a $0.30 dividend. The ex-dividend date is Thursday, September 10th. This represents a $1.20 annualized dividend and a dividend yield of 4.0%. Bay Commercial Bank's dividend payout ratio is 100.00%.
Analysts Set New Price Targets
A number of analysts have recently weighed in on the company. Weiss Ratings downgraded Bay Commercial Bank from a "buy (a-)" rating to a "buy (b-)" rating in a research report on Thursday, August 13th. Wall Street Zen cut Bay Commercial Bank from a "hold" rating to a "strong sell" rating in a report on Saturday, August 15th. Zacks Research downgraded Bay Commercial Bank from a "hold" rating to a "strong sell" rating in a research note on Thursday, July 30th. Finally, DA Davidson lowered shares of 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. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $34.00.
View Our Latest Stock Report on BCML
Hedge Funds Weigh In On Bay Commercial Bank
A number of hedge funds have recently bought and sold shares of the company. Russell Investments Group Ltd. lifted its stake in shares of Bay Commercial Bank by 974.3% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,085 shares of the company's stock valued at $31,000 after purchasing an additional 984 shares during the period. Assetmark Inc. acquired a new position in shares of Bay Commercial Bank during the first quarter valued at about $34,000. Tower Research Capital LLC TRC increased its position in Bay Commercial Bank by 236.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,629 shares of the company's stock valued at $45,000 after buying an additional 1,145 shares in the last quarter. Kestra Advisory Services LLC acquired a new stake in Bay Commercial Bank in the fourth quarter valued at approximately $57,000. Finally, BNP Paribas Financial Markets raised its position in shares of Bay Commercial Bank by 107.5% during the third quarter. BNP Paribas Financial Markets now owns 2,173 shares of the company's stock worth $62,000 after purchasing an additional 1,126 shares during the period. Institutional investors own 66.16% of the company's stock.
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.
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