Hsbc Holdings PLC Takes $253,000 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 purchased a new position in shares of Bay Commercial Bank (NASDAQ:BCML - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 9,825 shares of the company's stock, valued at approximately $253,000. Hsbc Holdings PLC owned 0.09% of Bay Commercial Bank as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in BCML. Wells Fargo & Company MN boosted its holdings 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 worth $165,000 after purchasing an additional 1,337 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Bay Commercial Bank by 2.2% during the fourth 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 during the period. Northern Trust Corp boosted its holdings in shares of Bay Commercial Bank by 4.9% during the fourth quarter. Northern Trust Corp now owns 93,246 shares of the company's stock worth $2,503,000 after purchasing an additional 4,340 shares during the period. Bank of America Corp DE boosted its holdings in shares of Bay Commercial Bank by 32.3% during the fourth quarter. Bank of America Corp DE now owns 13,485 shares of the company's stock worth $362,000 after purchasing an additional 3,292 shares during the period. Finally, Citadel Advisors LLC acquired a new stake in Bay Commercial Bank in the fourth quarter valued at approximately $732,000. 66.16% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BCML has been the subject of a number of analyst reports. 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. DA Davidson lifted their target price on shares of Bay Commercial Bank from $30.00 to $32.00 and gave the company a "buy" rating in a research note on Monday, July 21st. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $31.50.

Bay Commercial Bank Stock Up 1.3%

NASDAQ BCML traded up $0.38 during trading on Wednesday, reaching $30.14. The company's stock had a trading volume of 22,446 shares, compared to its average volume of 12,770. Bay Commercial Bank has a 1-year low of $21.84 and a 1-year high of $30.90. The stock has a market capitalization of $329.13 million, a PE ratio of 13.83 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. The business has a 50-day moving average price of $28.56 and a 200-day moving average price of $27.05.

Bay Commercial Bank (NASDAQ:BCML - Get Free Report) last released its quarterly earnings results on Thursday, July 17th. The company reported $0.58 EPS for the quarter, beating 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 company had revenue of $24.67 million for the quarter, compared to analyst estimates of $23.53 million. On average, 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 company also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Thursday, September 11th will be given a $0.25 dividend. This is a positive change from Bay Commercial Bank's previous quarterly dividend of $0.20. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend is Thursday, September 11th. Bay Commercial Bank's payout ratio is 36.70%.

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.