Bay Commercial Bank (NASDAQ:BCML) Posts Quarterly Earnings Results, Beats Expectations By $0.15 EPS

Bay Commercial Bank (NASDAQ:BCML) released its quarterly earnings data on Thursday. The company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.15, FiscalAI reports. Bay Commercial Bank had a return on equity of 7.18% and a net margin of 16.92%.The company had revenue of $1.55 million during the quarter, compared to the consensus estimate of $25.95 million.

Bay Commercial Bank Trading Up 0.8%

NASDAQ:BCML traded up $0.22 on Thursday, reaching $29.01. 33,036 shares of the stock traded hands, compared to its average volume of 27,704. The firm has a market capitalization of $316.47 million, a price-to-earnings ratio of 13.31 and a beta of 0.29. The company’s 50 day moving average is $29.48 and its 200-day moving average is $29.22. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.03. Bay Commercial Bank has a 1-year low of $25.15 and a 1-year high of $33.15.

Bay Commercial Bank Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Brean Capital downgraded Bay Commercial Bank from a “buy” rating to a “neutral” rating in a research note on Friday, April 10th. DA Davidson reaffirmed a “buy” rating and issued a $34.00 price objective on shares of Bay Commercial Bank in a research note on Friday, April 10th. Weiss Ratings raised Bay Commercial Bank from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday. Finally, Zacks Research downgraded Bay Commercial Bank from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $34.00.

Institutional Trading of Bay Commercial Bank

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BCML. Empowered Funds LLC increased its position in Bay Commercial Bank by 8.2% during the 1st quarter. Empowered Funds LLC now owns 37,226 shares of the company’s stock valued at $937,000 after purchasing an additional 2,827 shares during the period. Jane Street Group LLC acquired a new stake in Bay Commercial Bank during the 1st quarter valued at approximately $454,000. Rhumbline Advisers increased its position in Bay Commercial Bank by 3.5% during the 2nd quarter. Rhumbline Advisers now owns 16,673 shares of the company’s stock valued at $462,000 after purchasing an additional 564 shares during the period. Invesco Ltd. acquired a new stake in Bay Commercial Bank during the 2nd quarter valued at approximately $241,000. Finally, EverSource Wealth Advisors LLC increased its position in Bay Commercial Bank by 119,480.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,979 shares of the company’s stock valued at $166,000 after purchasing an additional 5,974 shares during the period. Institutional investors and hedge funds 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.