Bay Commercial Bank (NASDAQ:BCML) Releases Quarterly Earnings Results, Misses Estimates By $0.32 EPS

Key Points

• Bay Commercial Bank reported quarterly EPS of $0.32, which came in $0.32 below Wall Street estimates of $0.64.
• The stock was down 0.5% in trading after the release, and at one point traded at $33.13, near its 52-week high of $34.98.
• The company maintained a 3.6% dividend yield with a quarterly payout of $0.30 per share; meanwhile, analysts currently rate the stock Hold on average with a $34.00 price target.

Bay Commercial Bank (NASDAQ:BCML - Get Free Report) announced its quarterly earnings data on Thursday. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.32), Zacks reports. Bay Commercial Bank had a net margin of 18.41% and a return on equity of 7.84%.

Bay Commercial Bank Trading Down 0.5%

BCML traded down $0.17 during midday trading on Thursday, reaching $33.13. 49,210 shares of the company's stock traded hands, compared to its average volume of 47,120. Bay Commercial Bank has a 52 week low of $26.31 and a 52 week high of $34.98. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.02 and a quick ratio of 1.02. The firm has a fifty day moving average of $32.15 and a two-hundred day moving average of $30.44. The stock has a market capitalization of $361.45 million, a price-to-earnings ratio of 13.69 and a beta of 0.27.

Bay Commercial Bank Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 9th. Shareholders of record on Thursday, June 11th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, June 11th. This represents a $1.20 dividend on an annualized basis and a yield of 3.6%. Bay Commercial Bank's dividend payout ratio is presently 49.59%.

Insider Buying and Selling at Bay Commercial Bank

In other Bay Commercial Bank news, Director Michael J. Perdue bought 3,000 shares of Bay Commercial Bank stock in a transaction dated Tuesday, May 26th. The shares were purchased at an average cost of $30.94 per share, with a total value of $92,820.00. Following the completion of the purchase, the director owned 3,000 shares of the company's stock, valued at approximately $92,820. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.90% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Wellington Management Group LLP lifted its position in shares of Bay Commercial Bank by 10.7% in the 4th quarter. Wellington Management Group LLP now owns 1,058,935 shares of the company's stock worth $31,133,000 after purchasing an additional 102,666 shares during the period. Vanguard Group Inc. increased its position in shares of Bay Commercial Bank by 0.4% during 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 stake in Bay Commercial Bank by 7.3% in the third quarter. Alliancebernstein L.P. now owns 483,852 shares of the company's stock worth $13,911,000 after buying an additional 32,978 shares in the last quarter. State Street Corp raised its stake in Bay Commercial Bank by 1.3% in the fourth 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 in the last quarter. Finally, UBS Group AG lifted its holdings in Bay Commercial Bank by 866.1% in the third quarter. UBS Group AG now owns 160,978 shares of the company's stock worth $4,628,000 after buying an additional 144,316 shares during the period. 66.16% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on BCML shares. Zacks Research downgraded shares of Bay Commercial Bank from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 30th. Brean Capital cut shares of Bay Commercial Bank from a "buy" rating to a "neutral" rating in a research note on Friday, April 10th. Weiss Ratings cut shares of Bay Commercial Bank from a "buy (a-)" rating to a "buy (b+)" rating in a research report on Wednesday, July 15th. Finally, DA Davidson lowered shares of Bay Commercial Bank from a "buy" rating to a "neutral" rating and set a $34.00 price target for the company. in a research report on Tuesday, May 26th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Bay Commercial Bank currently has a consensus rating of "Hold" and an average price target of $34.00.

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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