Royce & Associates LP Sells 19,846 Shares of Bay Commercial Bank $BCML

Royce & Associates LP lessened its holdings in Bay Commercial Bank (NASDAQ:BCML) by 2.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 655,053 shares of the company’s stock after selling 19,846 shares during the quarter. Royce & Associates LP owned 6.01% of Bay Commercial Bank worth $19,259,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in BCML. Empowered Funds LLC raised its position in Bay Commercial Bank by 8.2% in the 1st quarter. Empowered Funds LLC now owns 37,226 shares of the company’s stock worth $937,000 after purchasing an additional 2,827 shares during the period. Jane Street Group LLC purchased a new position in Bay Commercial Bank in the 1st quarter worth $454,000. Rhumbline Advisers raised its position in Bay Commercial Bank by 3.5% in the 2nd quarter. Rhumbline Advisers now owns 16,673 shares of the company’s stock worth $462,000 after purchasing an additional 564 shares during the period. Invesco Ltd. purchased a new position in Bay Commercial Bank in the 2nd quarter worth $241,000. Finally, EverSource Wealth Advisors LLC raised its position in Bay Commercial Bank by 119,480.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,979 shares of the company’s stock worth $166,000 after purchasing an additional 5,974 shares during the period. Hedge funds and other institutional investors own 66.16% of the company’s stock.

Insider Activity

In related news, Director Michael J. Perdue purchased 3,000 shares of Bay Commercial Bank stock in a transaction that occurred on Tuesday, May 26th. The shares were bought at an average price of $30.94 per share, for a total transaction of $92,820.00. Following the completion of the transaction, the director directly owned 3,000 shares of the company’s stock, valued at $92,820. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.90% of the stock is owned by corporate insiders.

Bay Commercial Bank Price Performance

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

Bay Commercial Bank (NASDAQ:BCML) last released its quarterly earnings data on Thursday, April 23rd. The company reported $0.75 earnings per share (EPS) for the quarter, beating 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 analysts’ expectations of $25.95 million. As a group, equities analysts predict that Bay Commercial Bank will post 2.7 earnings per share for the current year.

Bay Commercial Bank Announces Dividend

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

Analysts Set New Price Targets

BCML has been the topic of a number of analyst reports. Zacks Research cut shares of Bay Commercial Bank from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. Brean Capital cut shares of Bay Commercial Bank from a “buy” rating to a “neutral” rating in a research report on Friday, April 10th. DA Davidson restated a “neutral” rating and issued a $34.00 price objective on shares of Bay Commercial Bank in a research report on Tuesday. Finally, Weiss Ratings upgraded shares of Bay Commercial Bank from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday, April 20th. One investment analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the 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 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.