Bay Commercial Bank (NASDAQ:BCML) Stock Rated "Hold" by Sell-Side Brokerages

Key Points

• Analyst consensus is “Hold”: Five brokerages cover Bay Commercial Bank, with an average 12-month price target of $34.00 versus the stock’s recent $30.21 price.
• Insiders have been buying shares: Executives and directors purchased 14,250 shares worth about $431,518 over the past 90 days, while institutional investors own 66.16% of the stock.
• The company maintains a 4% dividend yield, paying a quarterly dividend of $0.30, although its latest quarterly loss of $0.64 per share significantly missed analyst expectations.

Shares of Bay Commercial Bank (NASDAQ:BCML - Get Free Report) have received a consensus rating of "Hold" from the five brokerages that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation, one has assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $34.00.

A number of research analysts recently commented on the stock. Benchmark raised shares of Bay Commercial Bank to a "strong-buy" rating in a research report on Wednesday. Zacks Research lowered Bay Commercial Bank from a "hold" rating to a "strong sell" rating in a report on Thursday, July 30th. Weiss Ratings lowered shares of Bay Commercial Bank from a "buy (a-)" rating to a "buy (b-)" rating in a research note on Thursday, August 13th. Finally, Wall Street Zen raised Bay Commercial Bank from a "strong sell" rating to a "sell" rating in a report on Saturday, September 5th.

Insiders Place Their Bets

In other news, CEO Christopher F. Baron purchased 8,250 shares of the business's stock in a transaction dated Monday, August 10th. The stock was acquired at an average price of $30.39 per share, with a total value of $250,717.50. Following the purchase, the chief executive officer directly owned 9,247 shares of the company's stock, valued at $281,016.33. This represents a 827.48% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Michael J. Perdue acquired 5,000 shares of the stock in a transaction that occurred on Friday, July 31st. The stock was acquired at an average cost of $30.17 per share, for a total transaction of $150,850.00. Following the completion of the purchase, the director owned 8,000 shares in the company, valued at $241,360. The trade was a 166.67% increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders have bought 14,250 shares of company stock worth $431,518. 2.90% of the stock is owned by corporate insiders.

Institutional Trading of Bay Commercial Bank

Institutional investors and hedge funds have recently modified their holdings of the business. NewEdge Advisors LLC acquired a new position in shares of Bay Commercial Bank during the 2nd quarter worth approximately $269,000. Bank of America Corp DE increased its position in Bay Commercial Bank by 23.9% during the first quarter. Bank of America Corp DE now owns 14,780 shares of the company's stock worth $439,000 after buying an additional 2,854 shares in the last quarter. IMC Chicago LLC acquired a new position in shares of Bay Commercial Bank in the second quarter worth $418,000. Empowered Funds LLC lifted its position in shares of Bay Commercial Bank by 9.9% in the first quarter. Empowered Funds LLC now owns 56,053 shares of the company's stock valued at $1,666,000 after acquiring an additional 5,052 shares in the last quarter. Finally, Quantinno Capital Management LP boosted its stake in shares of Bay Commercial Bank by 18.8% during the first quarter. Quantinno Capital Management LP now owns 23,389 shares of the company's stock valued at $695,000 after acquiring an additional 3,697 shares during the last quarter. Hedge funds and other institutional investors own 66.16% of the company's stock.

Bay Commercial Bank Trading Up 1.9%

NASDAQ:BCML opened at $30.21 on Friday. Bay Commercial Bank has a 1 year low of $26.78 and a 1 year high of $34.98. The stock has a market cap of $329.89 million, a P/E ratio of 25.18 and a beta of 0.28. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a 50-day simple moving average of $30.73 and a 200-day simple moving average of $30.73.

Bay Commercial Bank (NASDAQ:BCML - Get Free Report) last issued its earnings results on Thursday, July 23rd. The company reported ($0.64) earnings per share for the quarter, missing the consensus estimate of $0.64 by ($1.28). The business had revenue of $1.49 million for the quarter, compared to analyst estimates of $26.30 million. Bay Commercial Bank had a return on equity of 6.98% and a net margin of 9.20%. As a group, analysts anticipate that Bay Commercial Bank will post 2.05 earnings per share for the current fiscal year.

Bay Commercial Bank Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 8th. Investors of record on Thursday, September 10th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend is Thursday, September 10th. Bay Commercial Bank's dividend payout ratio (DPR) is presently 100.00%.

Bay Commercial Bank Company Profile

BayCom Corp is a bank holding company that operates through its banking subsidiary, United Business Bank. The institution provides commercial banking services to businesses, professionals, nonprofit organizations and individuals, with a focus on relationship-based banking and customized financial solutions.

Its products and services generally include business and commercial real estate loans, construction and industrial financing, lines of credit, equipment financing, deposit accounts, treasury management and online banking.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.