Bay Commercial Bank (NASDAQ:BCML) Director Michael Perdue Buys 5,000 Shares

Bay Commercial Bank (NASDAQ:BCML) Director Michael Perdue purchased 5,000 shares of Bay Commercial Bank stock in a transaction on Friday, July 31st. The stock was bought at an average price of $30.17 per share, for a total transaction of $150,850.00. Following the completion of the acquisition, the director owned 8,000 shares in the company, valued at $241,360. The trade was a 166.67% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Bay Commercial Bank Stock Up 1.1%

Shares of BCML stock opened at $30.50 on Tuesday. The stock has a market cap of $332.75 million, a P/E ratio of 25.42 and a beta of 0.28. Bay Commercial Bank has a 52 week low of $26.72 and a 52 week high of $34.98. 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 company’s fifty day simple moving average is $32.21 and its two-hundred day simple moving average is $30.57.

Bay Commercial Bank (NASDAQ:BCML) last issued its quarterly earnings data on Thursday, July 23rd. The company reported ($0.64) earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($1.28). Bay Commercial Bank had a net margin of 9.20% and a return on equity of 6.96%. The firm had revenue of $1.49 million for the quarter, compared to analysts’ expectations of $26.30 million. Analysts predict that Bay Commercial Bank will post 2.29 EPS for the current fiscal year.

Bay Commercial Bank Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, July 9th. Investors of record on Thursday, June 11th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was 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 presently 100.00%.

Institutional Investors Weigh In On Bay Commercial Bank

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Kestra Advisory Services LLC purchased a new stake in Bay Commercial Bank during the 4th quarter valued at $57,000. SmartHarvest Portfolios LLC bought a new stake in Bay Commercial Bank in the fourth quarter worth $217,000. BNP Paribas Financial Markets boosted its stake in Bay Commercial Bank by 107.5% during the third quarter. BNP Paribas Financial Markets now owns 2,173 shares of the company’s stock worth $62,000 after buying an additional 1,126 shares during the period. Russell Investments Group Ltd. boosted its stake in Bay Commercial Bank by 974.3% during the third quarter. Russell Investments Group Ltd. now owns 1,085 shares of the company’s stock worth $31,000 after buying an additional 984 shares during the period. Finally, Tower Research Capital LLC TRC increased its position in Bay Commercial Bank by 236.6% during the second quarter. Tower Research Capital LLC TRC now owns 1,629 shares of the company’s stock valued at $45,000 after acquiring an additional 1,145 shares during the last quarter. 66.16% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Zacks Research downgraded Bay Commercial Bank from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 30th. Brean Capital downgraded Bay Commercial Bank from a “buy” rating to a “neutral” rating in a research report on Friday, April 10th. Weiss Ratings raised shares of Bay Commercial Bank from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Thursday. Finally, DA Davidson lowered shares of Bay Commercial Bank from a “buy” rating to a “neutral” rating and set a $34.00 price objective for the company. in a research report on Tuesday, May 26th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Bay Commercial Bank currently has a consensus rating of “Hold” and an average price target of $34.00.

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.