Bay Commercial Bank (NASDAQ:BCML) Cut to “Hold” at Zacks Research

Zacks Research downgraded shares of Bay Commercial Bank (NASDAQ:BCML) from a strong-buy rating to a hold rating in a research report report published on Monday,Zacks.com reports.

Other equities research analysts have also recently issued reports about the company. Weiss Ratings reissued a “buy (b)” rating on shares of Bay Commercial Bank in a report on Wednesday, January 21st. DA Davidson upped their price objective on Bay Commercial Bank from $32.00 to $34.00 and gave the stock a “buy” rating in a research note on Tuesday, January 27th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $34.00.

Bay Commercial Bank Stock Performance

BCML opened at $29.60 on Monday. The company has a 50 day simple moving average of $29.60 and a two-hundred day simple moving average of $29.20. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.03 and a quick ratio of 1.03. The firm has a market cap of $322.94 million, a P/E ratio of 13.58 and a beta of 0.29. Bay Commercial Bank has a 1-year low of $22.22 and a 1-year high of $33.15.

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

Bay Commercial Bank Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 9th. Investors of record on Thursday, March 12th will be given a dividend of $0.30 per share. The ex-dividend date is Thursday, March 12th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.1%. Bay Commercial Bank’s dividend payout ratio is currently 55.05%.

Institutional Trading of Bay Commercial Bank

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Wellington Management Group LLP boosted its holdings in shares of 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 valued at $31,133,000 after purchasing an additional 102,666 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Bay Commercial Bank by 0.4% during the third quarter. Vanguard Group Inc. now owns 608,951 shares of the company’s stock valued at $17,507,000 after purchasing an additional 2,233 shares in the last quarter. Alliancebernstein L.P. increased its holdings in shares of Bay Commercial Bank by 7.3% in the third quarter. Alliancebernstein L.P. now owns 483,852 shares of the company’s stock worth $13,911,000 after purchasing an additional 32,978 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Bay Commercial Bank by 1.2% in the second quarter. Geode Capital Management LLC now owns 240,564 shares of the company’s stock worth $6,668,000 after purchasing an additional 2,897 shares during the last quarter. Finally, State Street Corp lifted its position in shares of Bay Commercial Bank by 1.3% in the fourth quarter. State Street Corp now owns 175,767 shares of the company’s stock worth $5,220,000 after buying an additional 2,339 shares in the last quarter. 66.16% of the stock is currently owned by institutional investors.

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.