Bay Commercial Bank (NASDAQ:BCML) CEO Christopher Baron Purchases 8,250 Shares of Stock

Key Points

• CEO Christopher Baron bought 8,250 BCML shares at an average price of $30.39, investing $250,717.50 and increasing his direct ownership by 827.48% to 9,247 shares.
• BCML shares recently traded at $30.91, while the company reported disappointing quarterly results, including a $0.64 loss per share and revenue of $1.49 million versus analysts’ $26.30 million estimate.
• The company pays a quarterly dividend of $0.30, equal to a 3.9% annualized yield, but analyst sentiment is mixed: the average rating is “Hold” with a $34 price target, alongside recent downgrades and one upgrade.

Bay Commercial Bank (NASDAQ:BCML - Get Free Report) CEO Christopher Baron bought 8,250 shares of the business's stock in a transaction on Monday, August 10th. The stock was bought at an average price of $30.39 per share, for a total transaction of $250,717.50. Following the completion of the purchase, the chief executive officer directly owned 9,247 shares of the company's stock, valued at $281,016.33. The trade was a 827.48% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Bay Commercial Bank Stock Performance

Shares of BCML traded up $0.52 during midday trading on Tuesday, hitting $30.91. 8,364 shares of the stock traded hands, compared to its average volume of 47,765. The business's 50 day moving average price is $32.19 and its two-hundred day moving average price is $30.63. The firm has a market capitalization of $337.17 million, a PE ratio of 25.76 and a beta of 0.28. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.02 and a current ratio of 1.02. Bay Commercial Bank has a 1-year low of $26.78 and a 1-year high of $34.98.

Bay Commercial Bank (NASDAQ:BCML - Get Free Report) last announced its quarterly 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 net margin of 9.20% and a return on equity of 6.96%. The firm had revenue of $1.49 million during the quarter, compared to analyst estimates of $26.30 million. Equities research analysts predict that Bay Commercial Bank will post 2.29 EPS for the current fiscal year.

Bay Commercial Bank Dividend Announcement

The business 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. The ex-dividend date of this dividend was Thursday, June 11th. This represents a $1.20 annualized dividend and a yield of 3.9%. Bay Commercial Bank's dividend payout ratio is presently 100.00%.

Analysts Set New Price Targets

BCML has been the subject of a number of research analyst reports. Zacks Research lowered shares of Bay Commercial Bank from a "hold" rating to a "strong sell" rating in a research note on Thursday, July 30th. DA Davidson lowered shares of Bay Commercial Bank from a "buy" rating to a "neutral" rating and set a $34.00 price objective on the stock. in a research note on Tuesday, May 26th. Finally, Weiss Ratings raised Bay Commercial Bank from a "buy (b+)" rating to a "buy (a-)" rating in a report on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $34.00.

Hedge Funds Weigh In On Bay Commercial Bank

Several hedge funds have recently made changes to their positions in BCML. Russell Investments Group Ltd. lifted its stake in 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 purchasing an additional 984 shares during the last quarter. Assetmark Inc. acquired a new stake in shares of Bay Commercial Bank during the 1st quarter valued at $34,000. Tower Research Capital LLC TRC boosted its stake 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 acquiring an additional 1,145 shares in the last quarter. Kestra Advisory Services LLC bought a new stake in shares of Bay Commercial Bank during the 4th quarter worth $57,000. Finally, BNP Paribas Financial Markets grew its holdings in shares of Bay Commercial Bank by 107.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,173 shares of the company's stock worth $62,000 after acquiring an additional 1,126 shares during the last quarter. Institutional investors and hedge funds 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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