DA Davidson Boosts Bay Commercial Bank (NASDAQ:BCML) Price Target to $32.00

Bay Commercial Bank (NASDAQ:BCML - Get Free Report) had its price target hoisted by equities researchers at DA Davidson from $30.00 to $32.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. DA Davidson's target price would indicate a potential upside of 14.51% from the stock's previous close.

Separately, Wall Street Zen upgraded shares of Bay Commercial Bank from a "sell" rating to a "hold" rating in a research note on Sunday, June 29th.

Bay Commercial Bank Price Performance

Shares of NASDAQ:BCML traded up $0.66 during midday trading on Monday, hitting $27.95. The company had a trading volume of 1,619 shares, compared to its average volume of 25,214. Bay Commercial Bank has a twelve month low of $20.25 and a twelve month high of $30.13. The stock has a market cap of $307.67 million, a price-to-earnings ratio of 12.82 and a beta of 0.53. The business's 50-day simple moving average is $27.29 and its 200-day simple moving average is $26.71. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.05 and a quick ratio of 1.05.

Bay Commercial Bank (NASDAQ:BCML - Get Free Report) last posted its quarterly earnings data on Thursday, July 17th. The company reported $0.58 earnings per share for the quarter, topping analysts' consensus estimates of $0.55 by $0.03. The firm had revenue of $24.67 million during the quarter, compared to analysts' expectations of $23.53 million. Bay Commercial Bank had a net margin of 17.36% and a return on equity of 7.44%. On average, research analysts predict that Bay Commercial Bank will post 2.48 earnings per share for the current year.

Hedge Funds Weigh In On Bay Commercial Bank

Institutional investors and hedge funds have recently made changes to their positions in the stock. Wellington Management Group LLP boosted its stake in shares of Bay Commercial Bank by 41.6% during the fourth quarter. Wellington Management Group LLP now owns 930,498 shares of the company's stock valued at $24,975,000 after acquiring an additional 273,135 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Bay Commercial Bank by 2.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 615,795 shares of the company's stock valued at $16,528,000 after acquiring an additional 13,269 shares during the last quarter. Alliancebernstein L.P. boosted its stake in shares of Bay Commercial Bank by 0.3% during the fourth quarter. Alliancebernstein L.P. now owns 434,799 shares of the company's stock valued at $11,670,000 after acquiring an additional 1,500 shares during the last quarter. Hotchkis & Wiley Capital Management LLC boosted its stake in shares of Bay Commercial Bank by 9.2% during the first quarter. Hotchkis & Wiley Capital Management LLC now owns 127,190 shares of the company's stock valued at $3,201,000 after acquiring an additional 10,750 shares during the last quarter. Finally, Bridgeway Capital Management LLC boosted its stake in shares of Bay Commercial Bank by 0.7% during the fourth quarter. Bridgeway Capital Management LLC now owns 105,412 shares of the company's stock valued at $2,829,000 after acquiring an additional 704 shares during the last quarter. 66.16% of the stock is owned by institutional investors and hedge funds.

Bay Commercial Bank Company Profile

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.

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