Bay Commercial Bank (NASDAQ:BCML) Releases Earnings Results, Misses Expectations By $0.46 EPS

Key Points

• Bay Commercial Bank reported quarterly EPS of $0.10, missing the $0.56 analyst consensus by $0.46. Revenue was $18.73 million, below expectations of $26.08 million.
• Shares rose 2.5% to $31.90 following the results. The company maintains a quarterly dividend of $0.30, equivalent to an annualized $1.20 payout and a 3.8% yield.
• Insiders bought 14,250 shares worth approximately $431,518 over the past 90 days. Analyst sentiment remains mixed, with the stock carrying an average “Hold” rating and a $34 price target.

Bay Commercial Bank (NASDAQ:BCML - Get Free Report) posted its quarterly earnings results on Thursday. The company reported $0.10 earnings per share for the quarter, missing analysts' consensus estimates of $0.56 by ($0.46), FiscalAI reports. The business had revenue of $18.73 million for the quarter, compared to analyst estimates of $26.08 million. Bay Commercial Bank had a return on equity of 6.98% and a net margin of 9.20%.

Bay Commercial Bank Stock Up 2.5%

Shares of NASDAQ BCML traded up $0.77 during trading on Thursday, reaching $31.90. 133,325 shares of the stock were exchanged, compared to its average volume of 50,745. Bay Commercial Bank has a twelve month low of $26.78 and a twelve month high of $34.98. The company has a market capitalization of $348.35 million, a price-to-earnings ratio of 26.58 and a beta of 0.32. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.09. The business's 50-day moving average price is $30.49 and its 200 day moving average price is $30.97.

Bay Commercial Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 8th. Shareholders of record on Thursday, September 10th were given a $0.30 dividend. The ex-dividend date of this dividend was Thursday, September 10th. This represents a $1.20 annualized dividend and a yield of 3.8%. Bay Commercial Bank's dividend payout ratio (DPR) is 100.00%.

Insider Buying and Selling

In other news, CEO Christopher F. Baron purchased 8,250 shares of the firm's stock in a transaction that occurred on Monday, August 10th. The stock was acquired at an average cost of $30.39 per share, for a total transaction of $250,717.50. Following the completion of the purchase, the chief executive officer owned 9,247 shares of the company's stock, valued at approximately $281,016.33. This trade represents a 827.48% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael J. Perdue acquired 5,000 shares of the firm's stock in a transaction on Friday, July 31st. The stock was acquired at an average cost of $30.17 per share, with a total value of $150,850.00. Following the acquisition, the director owned 8,000 shares of the company's stock, valued at $241,360. This trade represents a 166.67% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders have acquired 14,250 shares of company stock worth $431,518. 2.90% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Wall Street Zen upgraded shares of Bay Commercial Bank from a "strong sell" rating to a "sell" rating in a research note on Saturday, September 5th. Weiss Ratings downgraded shares of Bay Commercial Bank from a "buy (b-)" rating to a "hold (c+)" rating in a report on Friday, October 9th. Benchmark raised Bay Commercial Bank to a "strong-buy" rating in a report on Wednesday, September 23rd. Finally, Zacks Research raised shares of Bay Commercial Bank from a "strong sell" rating to a "hold" rating in a research note on Monday, September 28th. One investment analyst has rated the stock with a Strong Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Bay Commercial Bank has an average rating of "Hold" and an average price target of $34.00.

About Bay Commercial Bank

BayCom Corp. is the bank holding company for Bay Community Bank, a community banking institution formerly known as Bay Commercial Bank. Headquartered in Walnut Creek, California, the bank focuses on serving small and midsized businesses, professionals, nonprofit organizations and individuals in Northern California.

Bay Community Bank provides commercial and consumer banking services, including business loans, commercial real estate financing, construction and equipment loans, residential real estate loans, lines of credit, and consumer lending.

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