Nuveen LLC Purchases New Shares in Bay Commercial Bank $BCML

Key Points

• Nuveen LLC has acquired 20,812 shares of Bay Commercial Bank (NASDAQ:BCML) valued at approximately $524,000, representing about 0.19% of the bank's shares.
• Bay Commercial Bank recently increased its quarterly dividend from $0.20 to $0.25 per share, resulting in a dividend yield of 3.3% for shareholders.
• Analysts have a consensus rating of "Moderate Buy" for Bay Commercial Bank, with a price target of $31.50 after positive earnings results exceeding expectations.

Nuveen LLC purchased a new stake in shares of Bay Commercial Bank (NASDAQ:BCML - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 20,812 shares of the company's stock, valued at approximately $524,000. Nuveen LLC owned about 0.19% of Bay Commercial Bank as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wells Fargo & Company MN boosted its position in shares of Bay Commercial Bank by 27.8% in the fourth quarter. Wells Fargo & Company MN now owns 6,141 shares of the company's stock valued at $165,000 after acquiring an additional 1,337 shares during the period. Dimensional Fund Advisors LP increased its holdings in Bay Commercial Bank by 2.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 615,795 shares of the company's stock worth $16,528,000 after purchasing an additional 13,269 shares in the last quarter. Northern Trust Corp increased its position in Bay Commercial Bank by 4.9% in the 4th quarter. Northern Trust Corp now owns 93,246 shares of the company's stock valued at $2,503,000 after acquiring an additional 4,340 shares during the period. Bank of America Corp DE increased its stake in shares of Bay Commercial Bank by 32.3% in the fourth quarter. Bank of America Corp DE now owns 13,485 shares of the company's stock valued at $362,000 after buying an additional 3,292 shares during the period. Finally, Citadel Advisors LLC bought a new stake in shares of Bay Commercial Bank in the 4th quarter valued at $732,000. Institutional investors own 66.16% of the company's stock.

Bay Commercial Bank Stock Up 1.3%

BCML stock traded up $0.38 during midday trading on Wednesday, hitting $30.14. The stock had a trading volume of 22,446 shares, compared to its average volume of 12,770. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.05 and a quick ratio of 1.05. The firm has a market cap of $329.13 million, a price-to-earnings ratio of 13.83 and a beta of 0.58. The business has a 50-day moving average of $28.56 and a two-hundred day moving average of $27.05. Bay Commercial Bank has a 52-week low of $21.84 and a 52-week high of $30.90.

Bay Commercial Bank (NASDAQ:BCML - Get Free Report) last issued its earnings results 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 return on equity of 7.41% and a net margin of 17.36%.The business had revenue of $24.67 million during the quarter, compared to analyst estimates of $23.53 million. As a group, equities research analysts forecast that Bay Commercial Bank will post 2.48 earnings per share for the current fiscal year.

Bay Commercial Bank Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Thursday, September 11th will be paid a $0.25 dividend. The ex-dividend date is Thursday, September 11th. This represents a $1.00 dividend on an annualized basis and a yield of 3.3%. This is an increase from Bay Commercial Bank's previous quarterly dividend of $0.20. Bay Commercial Bank's payout ratio is currently 36.70%.

Analysts Set New Price Targets

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

About Bay Commercial Bank

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.