American Century Companies Inc. Boosts Stock Holdings in Bay Commercial Bank $BCML

American Century Companies Inc. lifted its stake in shares of Bay Commercial Bank (NASDAQ:BCML) by 40.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 90,121 shares of the company’s stock after acquiring an additional 26,070 shares during the quarter. American Century Companies Inc. owned 0.82% of Bay Commercial Bank worth $2,268,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the stock. PNC Financial Services Group Inc. increased its position in shares of Bay Commercial Bank by 29.8% during the first quarter. PNC Financial Services Group Inc. now owns 1,749 shares of the company’s stock worth $44,000 after acquiring an additional 402 shares during the period. Cerity Partners LLC increased its position in shares of Bay Commercial Bank by 0.6% during the first quarter. Cerity Partners LLC now owns 83,241 shares of the company’s stock worth $2,095,000 after acquiring an additional 533 shares during the period. Bridgeway Capital Management LLC increased its position 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 acquiring an additional 704 shares during the period. Nuveen Asset Management LLC increased its position in shares of Bay Commercial Bank by 6.2% during the fourth quarter. Nuveen Asset Management LLC now owns 20,812 shares of the company’s stock worth $559,000 after acquiring an additional 1,206 shares during the period. Finally, Wells Fargo & Company MN increased 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 acquiring an additional 1,337 shares during the period. Hedge funds and other institutional investors own 66.16% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. DA Davidson upped their price objective 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. Wall Street Zen raised 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 assigned a Hold rating to the stock. According to MarketBeat, Bay Commercial Bank presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.50.

Bay Commercial Bank Stock Performance

NASDAQ:BCML opened at $30.26 on Monday. The firm has a market capitalization of $330.56 million, a PE ratio of 13.88 and a beta of 0.58. The business’s fifty day moving average price is $28.21 and its 200 day moving average price is $26.93. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.05 and a quick ratio of 1.05. Bay Commercial Bank has a 12 month low of $21.66 and a 12 month high of $30.90.

Bay Commercial Bank (NASDAQ:BCML) last posted its earnings results on Thursday, July 17th. The company reported $0.58 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $24.67 million for the quarter, compared to analyst estimates of $23.53 million. On average, sell-side analysts anticipate 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 disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Thursday, September 11th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, September 11th. This is a positive change 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%. 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.