Bay Commercial Bank (NASDAQ:BCML) Cut to Strong Sell at Zacks Research

Key Points

• Zacks Research downgraded Bay Commercial Bank from “hold” to “strong sell,” while other firms mostly moved to neutral ratings. The broader analyst consensus remains “hold,” with a $34 price target.
• BCML shares opened at $30.18, below the consensus target and near the midpoint of their 52-week range. The company’s latest results were weak, including a reported loss of $0.64 per share and revenue of $1.49 million versus a $26.30 million estimate.
• Insider and institutional activity was generally positive: a director bought 3,000 shares, while institutional investors own 66.16% of the company’s stock.

Bay Commercial Bank (NASDAQ:BCML - Get Free Report) was downgraded by investment analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a note issued to investors on Thursday,Zacks.com reports.

A number of other research firms have also weighed in on BCML. DA Davidson lowered Bay Commercial Bank from a "buy" rating to a "neutral" rating and set a $34.00 target price for the company. in a report on Tuesday, May 26th. Brean Capital downgraded shares of Bay Commercial Bank from a "buy" rating to a "neutral" rating in a report on Friday, April 10th. Finally, Weiss Ratings upgraded shares of Bay Commercial Bank from a "buy (b+)" rating to a "buy (a-)" rating in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $34.00.

Bay Commercial Bank Stock Performance

Shares of BCML opened at $30.18 on Thursday. The firm has a market capitalization of $329.26 million, a P/E ratio of 25.15 and a beta of 0.27. Bay Commercial Bank has a 52 week low of $26.31 and a 52 week high of $34.98. The stock has a 50 day moving average price of $32.22 and a two-hundred day moving average price of $30.54. 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 (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 for the quarter, compared to the consensus estimate of $26.30 million. Equities analysts forecast that Bay Commercial Bank will post 2.29 earnings per share for the current fiscal year.

Insider Buying and Selling at Bay Commercial Bank

In related news, Director Michael J. Perdue acquired 3,000 shares of the company's stock in a transaction dated Tuesday, May 26th. The stock was bought at an average cost of $30.94 per share, with a total value of $92,820.00. Following the acquisition, the director owned 3,000 shares of the company's stock, valued at approximately $92,820. The trade was a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.90% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. raised its position 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 in the last quarter. Assetmark Inc. purchased a new position in shares of Bay Commercial Bank in the 1st quarter worth about $34,000. Tower Research Capital LLC TRC boosted its holdings in shares of 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 worth $45,000 after purchasing an additional 1,145 shares in the last quarter. Kestra Advisory Services LLC bought a new position in shares of Bay Commercial Bank during the 4th quarter valued at about $57,000. Finally, BNP Paribas Financial Markets increased its position in shares of 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 during the last quarter. 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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