Royce & Associates LP Sells 33,900 Shares of Bay Commercial Bank (NASDAQ:BCML)

Key Points

• Royce & Associates LP reduced its stake in Bay Commercial Bank by 5.6%, holding 569,386 shares valued at approximately $14.3 million after selling 33,900 shares.
• Bay Commercial Bank recently increased its quarterly dividend from $0.15 to $0.20, representing an annualized yield of 2.91%.
• The company's stock reported earnings per share (EPS) of $0.58 for the last quarter, surpassing analysts’ expectations by $0.03.

Royce & Associates LP decreased its position in Bay Commercial Bank (NASDAQ:BCML - Free Report) by 5.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 569,386 shares of the company's stock after selling 33,900 shares during the quarter. Royce & Associates LP owned approximately 5.16% of Bay Commercial Bank worth $14,331,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. PNC Financial Services Group Inc. boosted its position in shares of Bay Commercial Bank by 46.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,347 shares of the company's stock valued at $36,000 after buying an additional 428 shares during the last quarter. Russell Investments Group Ltd. boosted its position in shares of Bay Commercial Bank by 3,097.3% during the fourth quarter. Russell Investments Group Ltd. now owns 3,613 shares of the company's stock valued at $97,000 after buying an additional 3,500 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Bay Commercial Bank by 7,206.9% during the first quarter. GAMMA Investing LLC now owns 5,261 shares of the company's stock valued at $132,000 after buying an additional 5,189 shares during the last quarter. Wells Fargo & Company MN boosted its position in shares of Bay Commercial Bank by 27.8% during the fourth quarter. Wells Fargo & Company MN now owns 6,141 shares of the company's stock valued at $165,000 after buying an additional 1,337 shares during the last quarter. Finally, Deutsche Bank AG boosted its position in shares of Bay Commercial Bank by 31.1% during the fourth quarter. Deutsche Bank AG now owns 6,444 shares of the company's stock valued at $173,000 after buying an additional 1,529 shares during the last quarter. 66.16% of the stock is owned by hedge funds and other institutional investors.

Bay Commercial Bank Stock Performance

NASDAQ:BCML traded up $0.26 on Monday, hitting $27.59. The stock had a trading volume of 11,754 shares, compared to its average volume of 23,201. The stock has a market cap of $303.77 million, a price-to-earnings ratio of 12.58 and a beta of 0.53. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.22. The business's 50-day simple moving average is $27.39 and its two-hundred day simple moving average is $26.79. Bay Commercial Bank has a 52-week low of $20.25 and a 52-week high of $30.13.

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

Bay Commercial Bank Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 10th. Stockholders of record on Thursday, June 12th were paid a $0.20 dividend. The ex-dividend date of this dividend was Thursday, June 12th. This represents a $0.80 annualized dividend and a dividend yield of 2.90%. This is an increase from Bay Commercial Bank's previous quarterly dividend of $0.15. Bay Commercial Bank's dividend payout ratio (DPR) is 36.70%.

Analysts Set New Price Targets

Several brokerages have issued reports on BCML. Wall Street Zen raised Bay Commercial Bank from a "sell" rating to a "hold" rating in a research report on Sunday, June 29th. DA Davidson raised their target price on Bay Commercial Bank from $30.00 to $32.00 and gave the stock a "buy" rating in a research report on Monday, July 21st.

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.