Bay Commercial Bank (NASDAQ:BCML) Stock Has Average Price Target of $34.00

Key Points

• Analyst sentiment is moderately positive: Five analysts have a consensus “Moderate Buy” rating, with an average 12-month price target of $34.00, versus a recent share price of $31.08.
• Quarterly results fell short of expectations: Bay Commercial Bank reported EPS of $0.10, below the $0.56 consensus, and revenue of $19.75 million versus the $26.41 million estimate.
• The company’s quarterly dividend of $0.30 equates to a 3.9% annualized yield, though its reported payout ratio is 142.86%. Institutional investors own 66.16% of shares, and a director recently bought 1,000 shares.

Bay Commercial Bank (NASDAQ:BCML - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the five brokerages that are presently covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $34.00.

A number of equities analysts recently issued reports on the company. Benchmark raised Bay Commercial Bank to a "strong-buy" rating in a report on Wednesday, September 23rd. Wall Street Zen raised Bay Commercial Bank from a "strong sell" rating to a "sell" rating in a research report on Saturday, September 5th. Weiss Ratings upgraded Bay Commercial Bank from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Tuesday. Finally, Zacks Research raised Bay Commercial Bank from a "strong sell" rating to a "hold" rating in a report on Monday, September 28th.

Insider Activity

In other news, Director Robert Laverne purchased 1,000 shares of the business's stock in a transaction that occurred on Thursday, August 20th. The stock was purchased at an average cost of $29.95 per share, with a total value of $29,950.00. Following the completion of the acquisition, the director directly owned 92,628 shares of the company's stock, valued at approximately $2,774,208.60. This trade represents a 1.09% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 2.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Bay Commercial Bank

A number of large investors have recently modified their holdings of the business. Fourthstone LLC purchased a new position in Bay Commercial Bank in the 3rd quarter valued at about $3,917,000. Empowered Funds LLC grew its stake in shares of Bay Commercial Bank by 33.5% during the third quarter. Empowered Funds LLC now owns 80,492 shares of the company's stock valued at $2,442,000 after acquiring an additional 20,209 shares in the last quarter. Russell Investments Group Ltd. grew its stake in shares of Bay Commercial Bank by 67.2% during the third quarter. Russell Investments Group Ltd. now owns 12,950 shares of the company's stock valued at $393,000 after acquiring an additional 5,203 shares in the last quarter. NewEdge Advisors LLC purchased a new stake in shares of Bay Commercial Bank during the second quarter worth about $269,000. Finally, IMC Chicago LLC purchased a new stake in shares of Bay Commercial Bank during the second quarter worth about $418,000. 66.16% of the stock is owned by hedge funds and other institutional investors.

Bay Commercial Bank Stock Performance

Shares of Bay Commercial Bank stock traded up $0.04 during trading on Friday, reaching $31.08. The company's stock had a trading volume of 66,479 shares, compared to its average volume of 59,404. The company has a 50-day moving average price of $30.71 and a two-hundred day moving average price of $30.64. The firm has a market cap of $339.39 million, a PE ratio of 37.00 and a beta of 0.32. Bay Commercial Bank has a fifty-two week low of $27.22 and a fifty-two week high of $34.98. The company has a current ratio of 1.03, a quick ratio of 1.04 and a debt-to-equity ratio of 0.02.

Bay Commercial Bank (NASDAQ:BCML - Get Free Report) last issued its quarterly earnings data on Thursday, October 22nd. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.46). The business had revenue of $19.75 million for the quarter, compared to analysts' expectations of $26.41 million. Bay Commercial Bank had a return on equity of 7.57% and a net margin of 6.53%. On average, analysts forecast that Bay Commercial Bank will post 2.21 EPS for the current year.

Bay Commercial Bank Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 8th. Shareholders of record on Thursday, September 10th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend was Thursday, September 10th. Bay Commercial Bank's payout ratio is currently 142.86%.

Bay Commercial Bank Company Profile

BayCom Corp NASDAQ: BCML is a bank holding company that provides commercial banking services through its subsidiary, United Business Bank. The bank serves businesses, professionals and individuals, with a focus on small and midsize businesses. Its offerings include business and personal deposit accounts, commercial real estate and business loans, and cash-management services. United Business Bank operates in California and other Western states. The company traces its roots to Bay Commercial Bank, which was established in Walnut Creek, California, in 2004.

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