Bay Commercial Bank (NASDAQ:BCML) Stock Price Crosses Above 200 Day Moving Average - What's Next?

Key Points

• BCML shares rose above their 200-day moving average, reaching $31.03 and last trading at $30.64, compared with the average of $30.51.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and a $34.00 price target; one firm issued a Strong Buy rating while four analysts rated the stock Hold.
• The company reported a significant quarterly earnings miss, posting $0.10 EPS versus expectations of $0.56 and revenue of $18.73 million versus estimates of $26.41 million. BCML also pays a $1.20 annualized dividend, yielding about 3.9%.

Bay Commercial Bank (NASDAQ:BCML - Get Free Report) passed above its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of $30.51 and traded as high as $31.03. Bay Commercial Bank shares last traded at $30.64, with a volume of 74,690 shares.

Analysts Set New Price Targets

BCML has been the topic of a number of research reports. Benchmark raised shares of Bay Commercial Bank to a "strong-buy" rating in a research report on Wednesday, September 23rd. Weiss Ratings cut shares of Bay Commercial Bank from a "buy (b-)" rating to a "hold (c+)" rating in a report on Friday, October 9th. Wall Street Zen raised shares of Bay Commercial Bank from a "strong sell" rating to a "sell" rating in a research report on Saturday, September 5th. Finally, Zacks Research upgraded shares of Bay Commercial Bank from a "strong sell" rating to a "hold" rating in a research note on Monday, September 28th. One research analyst has rated the stock with a Strong Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $34.00.

Bay Commercial Bank Price Performance

The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.09. The company has a 50 day moving average of $30.49 and a 200-day moving average of $30.51. The firm has a market capitalization of $334.59 million, a P/E ratio of 36.48 and a beta of 0.32.

Bay Commercial Bank (NASDAQ:BCML - Get Free Report) last issued its quarterly earnings results on Thursday, October 22nd. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.56 by ($0.46). Bay Commercial Bank had a return on equity of 7.54% and a net margin of 6.53%. The company had revenue of $18.73 million for the quarter, compared to analyst estimates of $26.41 million. On average, sell-side analysts predict that Bay Commercial Bank will post 2.14 EPS for the current year.

Bay Commercial Bank Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 8th. Investors of record on Thursday, September 10th were paid a $0.30 dividend. The ex-dividend date of this dividend was Thursday, September 10th. This represents a $1.20 annualized dividend and a yield of 3.9%. Bay Commercial Bank's dividend payout ratio (DPR) is 142.86%.

Insider Activity

In other news, Director Michael Perdue acquired 5,000 shares of Bay Commercial Bank stock in a transaction that occurred on Friday, July 31st. The shares were acquired at an average price of $30.17 per share, for a total transaction of $150,850.00. Following the transaction, the director directly owned 8,000 shares of the company's stock, valued at approximately $241,360. The trade was a 166.67% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert Laverne purchased 1,000 shares of Bay Commercial Bank stock in a transaction dated Thursday, August 20th. The shares were purchased at an average price of $29.95 per share, for a total transaction of $29,950.00. Following the completion of the acquisition, the director owned 92,628 shares of the company's stock, valued at approximately $2,774,208.60. The trade was a 1.09% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders have purchased 14,250 shares of company stock worth $431,518. Corporate insiders own 2.90% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Assetmark Inc. acquired a new stake in shares of Bay Commercial Bank in the first quarter valued at about $34,000. NewEdge Advisors LLC bought a new position in Bay Commercial Bank during the 2nd quarter worth approximately $269,000. Sei Investments Co. raised its holdings in Bay Commercial Bank by 42.3% during the 1st quarter. Sei Investments Co. now owns 13,793 shares of the company's stock worth $410,000 after purchasing an additional 4,100 shares during the last quarter. IMC Chicago LLC bought a new position in Bay Commercial Bank during the 2nd quarter worth approximately $418,000. Finally, Bank of America Corp DE lifted its position in shares of Bay Commercial Bank by 23.9% in the 1st quarter. Bank of America Corp DE now owns 14,780 shares of the company's stock worth $439,000 after purchasing an additional 2,854 shares during the period. 66.16% of the stock is owned by institutional investors and hedge funds.

Bay Commercial Bank Company Profile

Bay Commercial Bank is a community-focused commercial bank associated with BayCom Corp. The institution provides banking services to businesses, professionals and individuals, with an emphasis on relationship-based commercial banking.

Its products and services include commercial and real estate lending, construction and small-business loans, business checking and savings accounts, personal deposit accounts, cash-management services, online banking and other traditional financial services.

The bank originated in California and has served businesses and communities in the western United States through its branch network and commercial banking operations.

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