Wellington Management Group LLP Has $22.54 Million Stock Position in Bay Commercial Bank $BCML

Key Points

• Wellington Management Group LLP has reduced its stake in Bay Commercial Bank by 3.7%, now owning 8.12% of the bank valued at approximately $22.54 million.
• Other institutional investors, including PNC Financial Services Group Inc. and GAMMA Investing LLC, have increased their holdings significantly, reflecting growing interest among hedge funds in Bay Commercial Bank.
• Bay Commercial Bank announced a quarterly dividend increase from $0.20 to $0.25 per share, resulting in an annualized dividend yield of 3.3% and indicating a strong commitment to returning value to shareholders.

Wellington Management Group LLP decreased its stake in Bay Commercial Bank (NASDAQ:BCML - Free Report) by 3.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 895,613 shares of the company's stock after selling 34,885 shares during the quarter. Wellington Management Group LLP owned 8.12% of Bay Commercial Bank worth $22,543,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in BCML. PNC Financial Services Group Inc. lifted its stake in 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 buying an additional 402 shares during the period. GAMMA Investing LLC raised 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 worth $132,000 after purchasing an additional 5,189 shares during the period. Wells Fargo & Company MN raised 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 worth $165,000 after purchasing an additional 1,337 shares during the period. Deutsche Bank AG raised 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 worth $173,000 after purchasing an additional 1,529 shares during the period. Finally, Man Group plc acquired a new stake in shares of Bay Commercial Bank during the fourth quarter worth about $256,000. Institutional investors and hedge funds own 66.16% of the company's stock.

Wall Street Analyst Weigh In

BCML has been the topic of a number of research analyst reports. 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 price target 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. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $31.50.

Bay Commercial Bank Stock Down 0.2%

Bay Commercial Bank stock traded down $0.06 during midday trading on Friday, reaching $30.26. The stock had a trading volume of 16,511 shares, compared to its average volume of 24,577. The firm's fifty day simple moving average is $28.14 and its 200-day simple moving average is $26.94. Bay Commercial Bank has a 1-year low of $21.66 and a 1-year high of $30.90. The stock has a market capitalization of $330.56 million, a P/E ratio of 13.88 and a beta of 0.61. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.05 and a current ratio of 1.05.

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, beating 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 for the quarter, compared to analyst estimates of $23.53 million. As a group, analysts expect that Bay Commercial Bank will post 2.48 EPS for the current fiscal year.

Bay Commercial Bank Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Thursday, September 11th will be given a dividend of $0.25 per share. This is a positive change from Bay Commercial Bank's previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Thursday, September 11th. This represents a $1.00 annualized dividend and a dividend yield of 3.3%. Bay Commercial Bank's payout ratio is presently 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.