Bay Commercial Bank (NASDAQ:BCML) Issues Earnings Results

Key Points

• Bay Commercial Bank reported a quarterly EPS of $0.46, missing analysts' expectations by $0.07.
• The bank announced a quarterly dividend of $0.25, up from the previous $0.20, marking an annualized dividend yield of 3.6%.
• Institutional investors own 66.16% of Bay Commercial Bank's stock, with notable increases in positions from firms like AllianceBernstein and Empowered Funds.

Bay Commercial Bank (NASDAQ:BCML - Get Free Report) issued its earnings results on Thursday. The company reported $0.46 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.52 by ($0.06), Zacks reports. Bay Commercial Bank had a return on equity of 7.41% and a net margin of 17.36%.The company had revenue of $25.66 million for the quarter, compared to the consensus estimate of $23.67 million.

Bay Commercial Bank Stock Down 0.6%

NASDAQ:BCML opened at $27.99 on Friday. The firm has a market capitalization of $305.65 million, a price-to-earnings ratio of 12.84 and a beta of 0.53. Bay Commercial Bank has a twelve month low of $22.22 and a twelve month high of $30.96. The stock's 50 day moving average price is $29.07 and its two-hundred day moving average price is $27.70. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.22.

Bay Commercial Bank Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 9th. Shareholders of record on Thursday, September 11th were given a dividend of $0.25 per share. This is a positive change from Bay Commercial Bank's previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Thursday, September 11th. This represents a $1.00 annualized dividend and a dividend yield of 3.6%. Bay Commercial Bank's payout ratio is presently 45.87%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC increased its position in shares of Bay Commercial Bank by 236.6% during the 2nd 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 last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Bay Commercial Bank by 119,480.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,979 shares of the company's stock worth $166,000 after acquiring an additional 5,974 shares during the last quarter. Invesco Ltd. acquired a new position in shares of Bay Commercial Bank during the 2nd quarter worth approximately $241,000. Sei Investments Co. acquired a new position in shares of Bay Commercial Bank during the 2nd quarter worth approximately $269,000. Finally, Jane Street Group LLC acquired a new position in shares of Bay Commercial Bank during the 1st quarter worth approximately $454,000. Institutional investors and hedge funds own 66.16% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on BCML. Wall Street Zen upgraded Bay Commercial Bank from a "sell" rating to a "hold" rating in a report on Sunday, June 29th. DA Davidson lifted their price objective on Bay Commercial Bank from $30.00 to $32.00 and gave the company a "buy" rating in a report on Monday, July 21st. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Bay Commercial Bank in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $31.50.

Bay Commercial Bank Company Profile

BayCom Corp operates as the bank holding company for United Business Bank that provides various financial services to small and mid-sized businesses, service professionals, and individuals. The company provides demand, savings, money market, and time deposit accounts. It offers commercial and multifamily real estate loans, including owner-occupied and investor real estate loans; commercial and industrial loans, such as equipment loans and working capital lines of credit; small business administration loans; construction and land loans; agriculture-related loans; and consumer loans comprising installment loans, unsecured and secured personal lines of credit, and overdraft protection.