Hotchkis & Wiley Capital Management LLC Acquires 10,750 Shares of Bay Commercial Bank $BCML

Key Points

• Hotchkis & Wiley Capital Management LLC increased its stake in Bay Commercial Bank (NASDAQ:BCML) by 9.2%, owning 127,190 shares valued at about $3.2 million.
• Bay Commercial Bank announced a quarterly dividend of $0.25 per share, up from its previous $0.20, representing an annualized yield of 3.3%.
• Analysts have set a consensus target price of $31.50 for Bay Commercial Bank, with one "Buy" rating and one "Hold" rating issued recently.

Hotchkis & Wiley Capital Management LLC increased its holdings in shares of Bay Commercial Bank (NASDAQ:BCML - Free Report) by 9.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 127,190 shares of the company's stock after acquiring an additional 10,750 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned about 1.15% of Bay Commercial Bank worth $3,201,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. PNC Financial Services Group Inc. grew its position in shares of Bay Commercial Bank by 29.8% in the first quarter. PNC Financial Services Group Inc. now owns 1,749 shares of the company's stock valued at $44,000 after purchasing an additional 402 shares during the last quarter. Cerity Partners LLC increased its position in Bay Commercial Bank by 0.6% during the 1st quarter. Cerity Partners LLC now owns 83,241 shares of the company's stock worth $2,095,000 after buying an additional 533 shares during the period. Bridgeway Capital Management LLC lifted its holdings in shares of Bay Commercial Bank by 0.7% during the fourth quarter. Bridgeway Capital Management LLC now owns 105,412 shares of the company's stock worth $2,829,000 after buying an additional 704 shares in the last quarter. Nuveen Asset Management LLC boosted its position in shares of Bay Commercial Bank by 6.2% in the fourth quarter. Nuveen Asset Management LLC now owns 20,812 shares of the company's stock valued at $559,000 after acquiring an additional 1,206 shares during the period. Finally, Wells Fargo & Company MN grew its stake 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 in the last quarter. Institutional investors and hedge funds own 66.16% of the company's stock.

Wall Street Analyst Weigh In

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

Bay Commercial Bank Trading Down 0.2%

Shares of BCML stock traded down $0.06 during trading hours on Friday, hitting $30.26. 16,511 shares of the company's stock traded hands, compared to its average volume of 24,577. The stock has a market cap of $330.56 million, a PE ratio of 13.88 and a beta of 0.61. The stock's 50 day simple moving average is $28.14 and its 200 day simple moving average is $26.94. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.22. Bay Commercial Bank has a 12 month low of $21.66 and a 12 month high of $30.90.

Bay Commercial Bank (NASDAQ:BCML - Get Free Report) last announced its earnings results on Thursday, July 17th. The company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.03. The business had revenue of $24.67 million during the quarter, compared to analyst estimates of $23.53 million. Bay Commercial Bank had a return on equity of 7.41% and a net margin of 17.36%. On average, sell-side analysts anticipate that Bay Commercial Bank will post 2.48 EPS for the current year.

Bay Commercial Bank Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Thursday, September 11th will be issued a dividend of $0.25 per share. This is an increase from Bay Commercial Bank's previous quarterly dividend of $0.20. This represents a $1.00 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Thursday, September 11th. Bay Commercial Bank's dividend payout ratio (DPR) is currently 45.87%.

Bay Commercial Bank Company 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.