DA Davidson Reiterates “Buy” Rating for Bay Commercial Bank (NASDAQ:BCML)

Bay Commercial Bank (NASDAQ:BCML)‘s stock had its “buy” rating reissued by DA Davidson in a note issued to investors on Friday,Benzinga reports. They presently have a $34.00 price objective on the stock. DA Davidson’s price target indicates a potential upside of 17.08% from the company’s previous close.

Several other equities analysts have also recently weighed in on BCML. Zacks Research cut shares of Bay Commercial Bank from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. Brean Capital cut shares of Bay Commercial Bank from a “buy” rating to a “neutral” rating in a research note on Friday. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Bay Commercial Bank in a research note on Wednesday, January 21st. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Bay Commercial Bank presently has an average rating of “Moderate Buy” and an average price target of $34.00.

Bay Commercial Bank Stock Performance

Shares of NASDAQ BCML opened at $29.04 on Friday. The firm’s 50-day moving average price is $29.75 and its 200-day moving average price is $29.23. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.03. The company has a market cap of $316.83 million, a PE ratio of 13.32 and a beta of 0.29. Bay Commercial Bank has a 52-week low of $24.17 and a 52-week high of $33.15.

Bay Commercial Bank (NASDAQ:BCML) last announced its quarterly earnings results on Thursday, January 22nd. The company reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.02). The company had revenue of $0.89 million for the quarter, compared to analysts’ expectations of $25.03 million. Bay Commercial Bank had a net margin of 16.92% and a return on equity of 7.18%. As a group, analysts anticipate that Bay Commercial Bank will post 2.48 EPS for the current year.

Institutional Investors Weigh In On Bay Commercial Bank

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its stake in Bay Commercial Bank by 10.7% during the 4th quarter. Wellington Management Group LLP now owns 1,058,935 shares of the company’s stock worth $31,133,000 after acquiring an additional 102,666 shares during the period. Vanguard Group Inc. raised its stake in Bay Commercial Bank by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 608,951 shares of the company’s stock worth $17,507,000 after acquiring an additional 2,233 shares during the period. Alliancebernstein L.P. raised its stake in Bay Commercial Bank by 7.3% during the 3rd quarter. Alliancebernstein L.P. now owns 483,852 shares of the company’s stock worth $13,911,000 after acquiring an additional 32,978 shares during the period. State Street Corp raised its stake in Bay Commercial Bank by 1.3% during the 4th quarter. State Street Corp now owns 175,767 shares of the company’s stock worth $5,220,000 after acquiring an additional 2,339 shares during the period. Finally, UBS Group AG raised its stake in Bay Commercial Bank by 866.1% during the 3rd quarter. UBS Group AG now owns 160,978 shares of the company’s stock worth $4,628,000 after acquiring an additional 144,316 shares during the period. Institutional investors own 66.16% of the company’s stock.

Bay Commercial Bank Company Profile

Bay Commercial Bank is a bank holding company that offers a full suite of commercial and consumer banking services through its subsidiary, Bay Commercial Bank. The institution emphasizes relationship-driven banking, focusing on the needs of small and medium-sized businesses, professionals, and individual customers.

The bank’s lending portfolio encompasses commercial real estate, construction and development financing, equipment loans, acquisition financing, and consumer credit products such as residential mortgages and personal lines of credit.