Strs Ohio Purchases Shares of 19,900 Bay Commercial Bank $BCML

Key Points

• Strs Ohio purchased 19,900 shares of Bay Commercial Bank, increasing their stake to approximately 0.18% of the company, valued at around $501,000.
• Bay Commercial Bank recently increased its quarterly dividend from $0.20 to $0.25, reflecting a 3.4% yield, and plans to pay this dividend on October 9th.
• Analysts have upgraded Bay Commercial Bank's stock rating with a new average price target of $31.50, indicating a consensus of a "Moderate Buy."

Strs Ohio bought a new position in shares of Bay Commercial Bank (NASDAQ:BCML - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 19,900 shares of the company's stock, valued at approximately $501,000. Strs Ohio owned 0.18% of Bay Commercial Bank as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also made changes to their positions in the company. PNC Financial Services Group Inc. boosted its stake in shares of Bay Commercial Bank by 29.8% during the first quarter. PNC Financial Services Group Inc. now owns 1,749 shares of the company's stock worth $44,000 after buying an additional 402 shares during the period. GAMMA Investing LLC lifted its position in Bay Commercial Bank by 7,206.9% in the first quarter. GAMMA Investing LLC now owns 5,261 shares of the company's stock valued at $132,000 after purchasing an additional 5,189 shares during the period. Deutsche Bank AG lifted its position in Bay Commercial Bank by 31.1% in the fourth quarter. Deutsche Bank AG now owns 6,444 shares of the company's stock valued at $173,000 after purchasing an additional 1,529 shares during the period. Man Group plc acquired a new stake in Bay Commercial Bank in the fourth quarter valued at about $256,000. Finally, Hsbc Holdings PLC acquired a new stake in Bay Commercial Bank in the first quarter valued at about $253,000. Institutional investors and hedge funds own 66.16% of the company's stock.

Bay Commercial Bank Price Performance

Shares of NASDAQ:BCML traded down $0.15 during trading on Monday, hitting $29.60. 12,057 shares of the stock were exchanged, compared to its average volume of 15,849. The company has a fifty day moving average price of $28.75 and a two-hundred day moving average price of $27.23. The company has a market cap of $323.23 million, a PE ratio of 13.58 and a beta of 0.58. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.22. Bay Commercial Bank has a 12-month low of $22.22 and a 12-month high of $30.96.

Bay Commercial Bank (NASDAQ:BCML - Get Free Report) last issued 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. Bay Commercial Bank had a net margin of 17.36% and a return on equity of 7.41%. The business had revenue of $24.67 million during the quarter, compared to analysts' expectations of $23.53 million. On average, analysts forecast that Bay Commercial Bank will post 2.48 EPS for the current year.

Bay Commercial Bank Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Thursday, September 11th will be paid a dividend of $0.25 per share. This is a positive change from Bay Commercial Bank's previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Thursday, September 11th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.4%. Bay Commercial Bank's dividend payout ratio is 45.87%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on BCML shares. Wall Street Zen upgraded shares of Bay Commercial Bank from a "sell" rating to a "hold" rating in a research report on Sunday, June 29th. DA Davidson raised their price objective on shares of Bay Commercial Bank from $30.00 to $32.00 and gave the company a "buy" rating in a research report on Monday, July 21st. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $31.50.

Bay Commercial Bank 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.