Hsbc Holdings PLC Purchases New Position in Bay Commercial Bank $BCML

Key Points

• Hsbc Holdings PLC has acquired a new stake in Bay Commercial Bank, purchasing 9,825 shares valued at approximately $253,000, representing about 0.09% of the bank.
• Bay Commercial Bank recently reported a quarterly earnings per share (EPS) of $0.58, surpassing expectations and showing a revenue of $24.67 million for the quarter.
• The bank has announced an increase in its quarterly dividend from $0.20 to $0.25, reflecting a positive change and a yield of 3.3% for investors.

Hsbc Holdings PLC acquired a new position in Bay Commercial Bank (NASDAQ:BCML - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 9,825 shares of the company's stock, valued at approximately $253,000. Hsbc Holdings PLC owned 0.09% of Bay Commercial Bank at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. American Century Companies Inc. boosted its holdings in Bay Commercial Bank by 40.7% in the 1st quarter. American Century Companies Inc. now owns 90,121 shares of the company's stock worth $2,268,000 after buying an additional 26,070 shares during the period. Nuveen LLC bought a new position in Bay Commercial Bank in the 1st quarter valued at $524,000. PNC Financial Services Group Inc. boosted its holdings in Bay Commercial Bank by 29.8% in the 1st 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 period. Woodward Diversified Capital LLC bought a new position in Bay Commercial Bank in the 1st quarter valued at $755,000. Finally, Cerity Partners LLC boosted its holdings in Bay Commercial Bank by 0.6% in the 1st quarter. Cerity Partners LLC now owns 83,241 shares of the company's stock valued at $2,095,000 after purchasing an additional 533 shares during the period. 66.16% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have commented on BCML shares. DA Davidson raised their price target 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 raised shares of Bay Commercial Bank from a "sell" rating to a "hold" rating in a report on Sunday, June 29th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $31.50.

Bay Commercial Bank Price Performance

Shares of BCML traded down $0.14 during midday trading on Friday, reaching $29.93. The stock had a trading volume of 8,235 shares, compared to its average volume of 14,334. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $326.96 million, a price-to-earnings ratio of 13.73 and a beta of 0.58. The company's 50-day moving average is $28.46 and its 200 day moving average is $27.00. 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 released 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 company had revenue of $24.67 million during the quarter, compared to the consensus estimate of $23.53 million. On average, equities analysts predict that Bay Commercial Bank will post 2.48 EPS for the current fiscal year.

Bay Commercial Bank Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Thursday, September 11th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date is Thursday, September 11th. This is a boost from Bay Commercial Bank's previous quarterly dividend of $0.20. Bay Commercial Bank's dividend payout ratio is 45.87%.

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.