Bay Commercial Bank (NASDAQ:BCML) Downgraded to "Strong Sell" Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded Bay Commercial Bank to “strong sell” from “hold,” while Zacks Research made a similar downgrade. MarketBeat reports an overall consensus rating of “hold” and a $34.00 price target.
• BCML shares opened at $31.07, with a market capitalization of approximately $339 million and a 52-week range of $26.78 to $34.98.
• The bank reported quarterly EPS of -$0.64, missing the $0.64 consensus estimate, while revenue of $1.49 million fell well short of the $26.30 million estimate. Meanwhile, insiders purchased 18,250 shares worth about $556,000 over the past 90 days.

Bay Commercial Bank (NASDAQ:BCML - Get Free Report) was downgraded by analysts at Wall Street Zen from a "hold" rating to a "strong sell" rating in a research report issued on Saturday.

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

Bay Commercial Bank Trading Up 0.0%

Shares of NASDAQ:BCML opened at $31.07 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.02 and a current ratio of 1.04. The stock has a market capitalization of $339.28 million, a price-to-earnings ratio of 25.89 and a beta of 0.27. Bay Commercial Bank has a 1-year low of $26.78 and a 1-year high of $34.98. The company has a 50 day moving average price of $32.19 and a 200 day moving average price of $30.67.

Bay Commercial Bank (NASDAQ:BCML - Get Free Report) last posted its quarterly 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 company had revenue of $1.49 million during the quarter, compared to the consensus estimate of $26.30 million. On average, research analysts anticipate that Bay Commercial Bank will post 2.29 EPS for the current fiscal year.

Insider Transactions at Bay Commercial Bank

In other news, Director Michael J. Perdue bought 5,000 shares of the stock in a transaction on Friday, July 31st. The shares were purchased at an average price of $30.17 per share, for a total transaction of $150,850.00. Following the completion of the purchase, the director directly owned 8,000 shares of the company's stock, valued at $241,360. This trade represents a 166.67% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Christopher F. Baron bought 8,250 shares of the company's stock in a transaction on Monday, August 10th. The stock was purchased at an average cost of $30.39 per share, for a total transaction 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 ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders acquired 18,250 shares of company stock worth $556,268 in the last 90 days. Corporate insiders own 2.90% of the company's stock.

Hedge Funds Weigh In On Bay Commercial Bank

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BCML. Russell Investments Group Ltd. lifted its stake in Bay Commercial Bank by 974.3% in the third quarter. Russell Investments Group Ltd. now owns 1,085 shares of the company's stock valued at $31,000 after acquiring an additional 984 shares during the last quarter. Assetmark Inc. acquired a new position in shares of Bay Commercial Bank during the 1st quarter worth $34,000. Tower Research Capital LLC TRC raised its holdings 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 valued at $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 $57,000. Finally, BNP Paribas Financial Markets lifted its stake 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 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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