Bay Commercial Bank (NASDAQ:BCML) Upgraded to Sell at Wall Street Zen

Key Points

• Wall Street Zen upgraded Bay Commercial Bank from “strong sell” to “sell,” while the broader analyst consensus remains “Hold” with a $34.00 target price.
• BCML shares opened at $30.80, with a market capitalization of approximately $336 million; the stock has traded between $26.78 and $34.98 over the past year.
• The company reported a quarterly loss of $0.64 per share and revenue of $1.49 million, missing analyst expectations, although insiders purchased 14,250 shares worth roughly $431,500 over the past 90 days.

Bay Commercial Bank (NASDAQ:BCML - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "strong sell" rating to a "sell" rating in a note issued to investors on Saturday, Wall Street Zen reports.

Several other analysts also recently commented on the company. Weiss Ratings downgraded Bay Commercial Bank from a "buy (a-)" rating to a "buy (b-)" rating in a research note on Thursday, August 13th. DA Davidson lowered Bay Commercial Bank from a "buy" rating to a "neutral" rating and set a $34.00 price target on the stock. in a report on Tuesday, May 26th. Finally, Zacks Research cut Bay Commercial Bank from a "hold" rating to a "strong sell" rating in a research note on Thursday, July 30th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $34.00.

Bay Commercial Bank Stock Up 1.2%

Shares of NASDAQ:BCML opened at $30.80 on Friday. The firm has a market cap of $336.34 million, a P/E ratio of 25.67 and a beta of 0.28. Bay Commercial Bank has a 12-month low of $26.78 and a 12-month high of $34.98. The business has a fifty day simple moving average of $31.68 and a 200 day simple moving average of $30.70. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.09.

Bay Commercial Bank (NASDAQ:BCML - Get Free Report) last released its earnings results on Thursday, July 23rd. The company reported ($0.64) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($1.28). Bay Commercial Bank had a net margin of 9.20% and a return on equity of 6.98%. The firm had revenue of $1.49 million during the quarter, compared to analyst estimates of $26.30 million. Analysts predict that Bay Commercial Bank will post 2.05 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Christopher Baron acquired 8,250 shares of the stock in a transaction on Monday, August 10th. The shares were acquired at an average price of $30.39 per share, with a total value of $250,717.50. Following the completion of the transaction, the chief executive officer owned 9,247 shares in the company, valued at approximately $281,016.33. The trade was a 827.48% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Robert Laverne bought 1,000 shares of the company's stock in a transaction on Thursday, August 20th. The stock was bought at an average price of $29.95 per share, for a total transaction of $29,950.00. Following the completion of the purchase, the director owned 92,628 shares of the company's stock, valued at approximately $2,774,208.60. The trade was a 1.09% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders have purchased 14,250 shares of company stock valued at $431,518. Company insiders own 2.90% of the company's stock.

Hedge Funds Weigh In On Bay Commercial Bank

Several institutional investors have recently bought and sold shares of BCML. Empowered Funds LLC increased its position in Bay Commercial Bank by 8.2% in the first quarter. Empowered Funds LLC now owns 37,226 shares of the company's stock worth $937,000 after buying an additional 2,827 shares during the last quarter. Jane Street Group LLC bought a new position in shares of Bay Commercial Bank during the 1st quarter worth $454,000. Rhumbline Advisers increased its holdings in Bay Commercial Bank by 3.5% in the 2nd 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 stake in Bay Commercial Bank in the 2nd quarter valued at about $241,000. Finally, EverSource Wealth Advisors LLC raised its stake in Bay Commercial Bank by 119,480.0% in the 2nd 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 during the period. Hedge funds and other institutional investors own 66.16% of the company's stock.

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.

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