Bay Commercial Bank (NASDAQ:BCML) Releases Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Bay Commercial Bank (NASDAQ:BCML - Get Free Report) released its earnings results on Thursday. The company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.55 by $0.03, Zacks reports. Bay Commercial Bank had a return on equity of 7.44% and a net margin of 17.36%. The firm had revenue of $24.67 million for the quarter, compared to analysts' expectations of $23.53 million.

Bay Commercial Bank Stock Up 4.0%

NASDAQ BCML traded up $1.10 during trading hours on Monday, reaching $28.39. 9,770 shares of the company's stock traded hands, compared to its average volume of 25,261. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.05 and a quick ratio of 1.05. The firm has a market cap of $312.56 million, a PE ratio of 13.09 and a beta of 0.53. Bay Commercial Bank has a 52-week low of $20.25 and a 52-week high of $30.13. The firm has a 50-day simple moving average of $27.29 and a 200 day simple moving average of $26.71.

Bay Commercial Bank Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 10th. Stockholders of record on Thursday, June 12th were paid a $0.20 dividend. This is a boost from Bay Commercial Bank's previous quarterly dividend of $0.15. The ex-dividend date was Thursday, June 12th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.82%. Bay Commercial Bank's dividend payout ratio is 36.70%.

Analyst Ratings Changes

A number of research analysts have recently commented on BCML shares. Wall Street Zen upgraded Bay Commercial Bank from a "sell" rating to a "hold" rating in a research note on Sunday, June 29th. DA Davidson lifted their price objective on Bay Commercial Bank from $30.00 to $32.00 and gave the stock a "buy" rating in a report on Monday.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Bay Commercial Bank stock. Empowered Funds LLC increased its holdings in Bay Commercial Bank (NASDAQ:BCML - Free Report) by 8.2% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,226 shares of the company's stock after buying an additional 2,827 shares during the period. Empowered Funds LLC owned about 0.34% of Bay Commercial Bank worth $937,000 as of its most recent SEC filing. Institutional investors own 66.16% of the company's stock.

About Bay Commercial Bank

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.