Bay Commercial Bank (NASDAQ:BCML) Issues Quarterly Earnings Results, Beats Expectations By $0.13 EPS

Key Points

• Bay Commercial Bank reported $0.75 EPS for the quarter, beating estimates by $0.13, but revenue was just $1.54 million versus analysts' expectations of $25.95 million.
• The bank paid a quarterly dividend of $0.30 (annualized $1.20) for a yield of about 4.1% and a payout ratio of roughly 55.1%.
• BCML holds a consensus rating of Moderate Buy with a target price of $34.00, trading at a P/E of 13.3 and a market cap near $316.5M.

Bay Commercial Bank (NASDAQ:BCML - Get Free Report) released its quarterly earnings results on Thursday. The company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.13, FiscalAI reports. The business had revenue of $1.54 million for the quarter, compared to analysts' expectations of $25.95 million. Bay Commercial Bank had a net margin of 16.92% and a return on equity of 7.18%.

Bay Commercial Bank Price Performance

BCML opened at $29.01 on Friday. The stock has a fifty day simple moving average of $29.45 and a two-hundred day simple moving average of $29.21. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.03. The company has a market cap of $316.50 million, a price-to-earnings ratio of 13.31 and a beta of 0.29. Bay Commercial Bank has a 12-month low of $25.15 and a 12-month high of $33.15.

Bay Commercial Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 9th. Shareholders of record on Thursday, March 12th were issued a $0.30 dividend. The ex-dividend date was Thursday, March 12th. This represents a $1.20 dividend on an annualized basis and a yield of 4.1%. Bay Commercial Bank's dividend payout ratio is 55.05%.

Wall Street Analysts Forecast Growth

BCML has been the subject of several research reports. Weiss Ratings upgraded shares of Bay Commercial Bank from a "buy (b+)" rating to a "buy (a-)" rating in a report on Monday. Brean Capital cut shares of Bay Commercial Bank from a "buy" rating to a "neutral" rating in a research report on Friday, April 10th. Zacks Research cut shares of Bay Commercial Bank from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 30th. Finally, DA Davidson reissued a "buy" rating and issued a $34.00 price target on shares of Bay Commercial Bank in a research note on Friday, April 10th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $34.00.

Institutional Trading of Bay Commercial Bank

Hedge funds have recently modified their holdings of the business. Russell Investments Group Ltd. increased its stake in shares of Bay Commercial Bank by 974.3% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,085 shares of the company's stock worth $31,000 after acquiring an additional 984 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in Bay Commercial Bank by 236.6% during the second 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 Bay Commercial Bank during the fourth quarter worth about $57,000. BNP Paribas Financial Markets grew its holdings in Bay Commercial Bank by 107.5% in the third quarter. BNP Paribas Financial Markets now owns 2,173 shares of the company's stock worth $62,000 after purchasing an additional 1,126 shares during the period. Finally, EverSource Wealth Advisors LLC grew its holdings in Bay Commercial Bank by 119,480.0% in the second quarter. EverSource Wealth Advisors LLC now owns 5,979 shares of the company's stock worth $166,000 after purchasing an additional 5,974 shares during the period. Institutional investors own 66.16% of the company's stock.

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.