DA Davidson Reiterates Buy Rating for Bay Commercial Bank (NASDAQ:BCML)

Key Points

• DA Davidson reiterated a Buy rating on Bay Commercial Bank with a $34.00 price target, implying about a 13.7% upside from the current price.
• Bay Commercial Bank reported quarterly EPS of $0.75, beating the $0.62 estimate, and analysts forecast about 2.65 EPS for the year, while consensus ratings sit at "Moderate Buy."
• Shares traded at $29.91 (up ~1.2%), the company has a market cap of ~$326M and a P/E of 12.35, and institutional investors own about 66.16% of the stock with several funds recently increasing positions.

Bay Commercial Bank (NASDAQ:BCML - Get Free Report)'s stock had its "buy" rating reaffirmed by analysts at DA Davidson in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $34.00 price target on the stock. DA Davidson's target price would suggest a potential upside of 13.67% from the company's current price.

A number of other research firms also recently weighed in on BCML. Brean Capital downgraded Bay Commercial Bank from a "buy" rating to a "neutral" rating in a research note on Friday, April 10th. Weiss Ratings raised Bay Commercial Bank from a "buy (b+)" rating to a "buy (a-)" rating in a research note on Monday, April 20th. Finally, Zacks Research downgraded Bay Commercial Bank from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 30th. One investment 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 stock. Based on data from MarketBeat.com, Bay Commercial Bank has a consensus rating of "Moderate Buy" and a consensus price target of $34.00.

Bay Commercial Bank Stock Up 1.2%

Shares of BCML traded up $0.35 during midday trading on Tuesday, reaching $29.91. 5,923 shares of the stock were exchanged, compared to its average volume of 28,418. Bay Commercial Bank has a 12-month low of $25.55 and a 12-month high of $33.15. The firm has a 50 day simple moving average of $29.40 and a 200-day simple moving average of $29.25. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.03. The company has a market cap of $326.32 million, a price-to-earnings ratio of 12.35 and a beta of 0.29.

Bay Commercial Bank (NASDAQ:BCML - Get Free Report) last posted its quarterly earnings results on Thursday, April 23rd. The company reported $0.75 earnings per share for the quarter, topping analysts' consensus estimates of $0.62 by $0.13. Bay Commercial Bank had a return on equity of 7.90% and a net margin of 18.41%.The company had revenue of $1.55 million during the quarter, compared to the consensus estimate of $25.95 million. Research analysts forecast that Bay Commercial Bank will post 2.65 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in BCML. PNC Financial Services Group Inc. grew its holdings in Bay Commercial Bank by 12.3% in the 3rd quarter. PNC Financial Services Group Inc. now owns 4,337 shares of the company's stock valued at $125,000 after buying an additional 475 shares during the last quarter. Rhumbline Advisers grew its holdings in Bay Commercial Bank by 3.5% in the 2nd quarter. Rhumbline Advisers now owns 16,673 shares of the company's stock valued at $462,000 after buying an additional 564 shares during the last quarter. Invesco Ltd. grew its holdings in Bay Commercial Bank by 7.2% in the 4th quarter. Invesco Ltd. now owns 10,667 shares of the company's stock valued at $314,000 after buying an additional 716 shares during the last quarter. Mercer Global Advisors Inc. ADV grew its holdings in Bay Commercial Bank by 3.5% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 23,068 shares of the company's stock valued at $678,000 after buying an additional 771 shares during the last quarter. Finally, LSV Asset Management grew its holdings in Bay Commercial Bank by 0.9% in the 4th quarter. LSV Asset Management now owns 87,211 shares of the company's stock valued at $2,564,000 after buying an additional 800 shares during the last quarter. Institutional investors and hedge funds own 66.16% of the company's stock.

Bay Commercial Bank Company Profile

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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