Bay Commercial Bank (NASDAQ:BCML) Director Michael Perdue Purchases 2,000 Shares

Bay Commercial Bank (NASDAQ:BCML) Director Michael Perdue acquired 2,000 shares of the firm’s stock in a transaction on Friday, May 22nd. The shares were bought at an average cost of $30.94 per share, for a total transaction of $61,880.00. Following the acquisition, the director owned 2,000 shares in the company, valued at approximately $61,880. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Bay Commercial Bank Stock Down 0.8%

Shares of NASDAQ:BCML opened at $30.77 on Wednesday. Bay Commercial Bank has a 12 month low of $25.84 and a 12 month high of $33.15. The company’s 50-day moving average price is $29.72 and its two-hundred day moving average price is $29.62. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.02. The firm has a market cap of $335.67 million, a P/E ratio of 12.71 and a beta of 0.27.

Bay Commercial Bank (NASDAQ:BCML) last issued its quarterly earnings data on Thursday, April 23rd. The company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.13. Bay Commercial Bank had a net margin of 18.41% and a return on equity of 7.84%. The firm had revenue of $1.55 million for the quarter, compared to analyst estimates of $25.95 million. As a group, research analysts forecast that Bay Commercial Bank will post 2.7 EPS for the current fiscal year.

Bay Commercial Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Thursday, June 11th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, June 11th. This represents a $1.20 dividend on an annualized basis and a yield of 3.9%. Bay Commercial Bank’s dividend payout ratio is currently 49.59%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on BCML shares. Zacks Research lowered shares of Bay Commercial Bank from a “strong-buy” rating to a “hold” rating in a report on Monday, March 30th. Weiss Ratings raised shares of Bay Commercial Bank from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday, April 20th. DA Davidson reaffirmed a “neutral” rating and issued a $34.00 target price on shares of Bay Commercial Bank in a research note on Tuesday. Finally, Brean Capital lowered shares of Bay Commercial Bank from a “buy” rating to a “neutral” rating in a research note on Friday, April 10th. One research analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $34.00.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Wellington Management Group LLP boosted its stake in shares of Bay Commercial Bank by 10.7% in 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. boosted its stake in shares of Bay Commercial Bank by 0.4% in the 3rd 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 during the last quarter. Alliancebernstein L.P. boosted its stake in shares of Bay Commercial Bank by 7.3% in the 3rd quarter. Alliancebernstein L.P. now owns 483,852 shares of the company’s stock valued at $13,911,000 after purchasing an additional 32,978 shares during the last quarter. State Street Corp boosted its stake in shares of Bay Commercial Bank by 1.3% in the 4th quarter. State Street Corp now owns 175,767 shares of the company’s stock valued at $5,220,000 after purchasing an additional 2,339 shares during the last quarter. Finally, UBS Group AG boosted its stake in shares of Bay Commercial Bank by 866.1% in the 3rd quarter. UBS Group AG now owns 160,978 shares of the company’s stock valued at $4,628,000 after purchasing an additional 144,316 shares during the last quarter. 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.