Wall Street Zen Upgrades Bay Commercial Bank (NASDAQ:BCML) to “Sell”

Bay Commercial Bank (NASDAQ:BCML) was upgraded by analysts at Wall Street Zen from a “strong sell” rating to a “sell” rating in a report released on Saturday, Wall Street Zen reports.

Several other equities analysts have also recently weighed in on the company. DA Davidson cut 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. Weiss Ratings downgraded Bay Commercial Bank from a “buy (a-)” rating to a “buy (b-)” rating in a research report on Thursday, August 13th. Finally, Zacks Research lowered Bay Commercial Bank from a “hold” rating to a “strong sell” rating in a report on Thursday, July 30th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $34.00.

Bay Commercial Bank Stock Performance

Shares of BCML opened at $30.80 on Friday. The company has a market capitalization of $336.34 million, a PE ratio of 25.67 and a beta of 0.28. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.04 and a quick ratio of 1.04. Bay Commercial Bank has a one year low of $26.78 and a one year high of $34.98. The company’s fifty day moving average price is $31.68 and its 200 day moving average price is $30.70.

Bay Commercial Bank (NASDAQ:BCML) last released its quarterly earnings results on Thursday, July 23rd. The company reported ($0.64) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($1.28). The firm had revenue of $1.49 million for the quarter, compared to the consensus estimate of $26.30 million. Bay Commercial Bank had a net margin of 9.20% and a return on equity of 6.98%. As a group, analysts expect that Bay Commercial Bank will post 2.05 earnings per share for the current year.

Insider Activity at Bay Commercial Bank

In other news, CEO Christopher Baron bought 8,250 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The shares were acquired at an average cost of $30.39 per share, with a total value of $250,717.50. Following the completion of the transaction, the chief executive officer directly owned 9,247 shares in the company, valued at $281,016.33. This represents a 827.48% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael Perdue purchased 5,000 shares of the stock in a transaction that occurred on Friday, July 31st. The shares were purchased at an average price of $30.17 per share, for a total transaction of $150,850.00. Following the completion of the purchase, the director directly owned 8,000 shares of the company’s stock, valued at approximately $241,360. This trade represents a 166.67% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders purchased 14,250 shares of company stock worth $431,518. Company insiders own 2.90% of the company’s stock.

Institutional Trading of Bay Commercial Bank

A number of institutional investors and hedge funds have recently modified their holdings of the company. Russell Investments Group Ltd. lifted its position in Bay Commercial Bank by 974.3% in the third quarter. Russell Investments Group Ltd. now owns 1,085 shares of the company’s stock worth $31,000 after purchasing an additional 984 shares during the period. Assetmark Inc. bought a new stake in Bay Commercial Bank in the 1st quarter valued at $34,000. Tower Research Capital LLC TRC increased its holdings in Bay Commercial Bank by 236.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,629 shares of the company’s stock valued at $45,000 after buying an additional 1,145 shares during the period. Kestra Advisory Services LLC acquired a new position in shares of Bay Commercial Bank in the 4th quarter valued at $57,000. Finally, BNP Paribas Financial Markets raised its stake in shares of Bay Commercial Bank by 107.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,173 shares of the company’s stock valued at $62,000 after buying an additional 1,126 shares in the last quarter. 66.16% of the stock is currently owned by institutional investors.

About Bay Commercial Bank

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.