Bay Commercial Bank (NASDAQ:BCML) Downgraded to Hold Rating by Zacks Research

Key Points

• Zacks Research downgraded Bay Commercial Bank (NASDAQ:BCML) from a "strong-buy" to a "hold"; the stock's consensus remains a Moderate Buy with an average price target of $34.00 (two Buy ratings, one Hold).
• BCML reported $0.63 EPS last quarter, missing the $0.65 consensus and reporting revenue well below analyst estimates. Analysts still project about 2.48 EPS for the fiscal year, and the bank posted a 7.18% ROE and a 16.92% net margin.
• Shares trade near $29.73 with a 52-week range of $22.22–$33.15, a market cap of roughly $324M and a P/E of 13.64; the company has very low leverage (debt/equity 0.03) and about 66% institutional ownership.

Bay Commercial Bank (NASDAQ:BCML - Get Free Report) was downgraded by analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a report released on Monday,Zacks.com reports.

BCML has been the subject of several other research reports. DA Davidson boosted their target price on Bay Commercial Bank from $32.00 to $34.00 and gave the stock a "buy" rating in a research note on Tuesday, January 27th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Bay Commercial Bank in a report on Wednesday, January 21st. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, Bay Commercial Bank has an average rating of "Moderate Buy" and a consensus price target of $34.00.

Bay Commercial Bank Trading Up 0.4%

Shares of BCML opened at $29.73 on Monday. Bay Commercial Bank has a 52-week low of $22.22 and a 52-week high of $33.15. The business's fifty day moving average is $29.61 and its 200-day moving average is $29.20. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.03 and a current ratio of 1.03. The firm has a market cap of $324.35 million, a price-to-earnings ratio of 13.64 and a beta of 0.31.

Bay Commercial Bank (NASDAQ:BCML - Get Free Report) last posted its quarterly earnings results on Thursday, January 22nd. The company reported $0.63 EPS for the quarter, missing analysts' consensus estimates of $0.65 by ($0.02). The business had revenue of $0.89 million for the quarter, compared to analyst estimates of $25.03 million. Bay Commercial Bank had a return on equity of 7.18% and a net margin of 16.92%. Equities analysts anticipate that Bay Commercial Bank will post 2.48 EPS for the current fiscal year.

Hedge Funds Weigh In On Bay Commercial Bank

Large investors have recently bought and sold shares of the company. Wellington Management Group LLP boosted its stake in shares of Bay Commercial Bank by 10.7% during the fourth quarter. Wellington Management Group LLP now owns 1,058,935 shares of the company's stock valued at $31,133,000 after purchasing an additional 102,666 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Bay Commercial Bank by 0.4% in the third quarter. Vanguard Group Inc. now owns 608,951 shares of the company's stock valued at $17,507,000 after buying an additional 2,233 shares during the period. Alliancebernstein L.P. raised its holdings in Bay Commercial Bank by 7.3% in the 3rd quarter. Alliancebernstein L.P. now owns 483,852 shares of the company's stock valued at $13,911,000 after buying an additional 32,978 shares during the last quarter. Geode Capital Management LLC boosted its position in Bay Commercial Bank by 1.2% during the 2nd quarter. Geode Capital Management LLC now owns 240,564 shares of the company's stock worth $6,668,000 after buying an additional 2,897 shares during the period. Finally, State Street Corp boosted its position in Bay Commercial Bank by 1.3% during the 4th quarter. State Street Corp now owns 175,767 shares of the company's stock worth $5,220,000 after buying an additional 2,339 shares during the period. 66.16% of the stock is currently owned by institutional investors.

About Bay Commercial Bank

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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