Zacks Research Upgrades Bay Commercial Bank (NASDAQ:BCML) to Strong-Buy

Bay Commercial Bank (NASDAQ:BCML) was upgraded by research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Monday,Zacks.com reports.

A number of other research analysts have also recently commented on the company. Wall Street Zen raised Bay Commercial Bank from a “sell” rating to a “hold” rating in a report on Sunday, November 23rd. DA Davidson boosted their target price on shares of Bay Commercial Bank from $32.00 to $34.00 and gave the stock a “buy” rating in a report on Tuesday, January 27th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Bay Commercial Bank in a research report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $32.50.

Bay Commercial Bank Trading Up 2.1%

Shares of Bay Commercial Bank stock opened at $30.00 on Monday. Bay Commercial Bank has a fifty-two week low of $22.22 and a fifty-two week high of $33.15. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.02 and a current ratio of 1.02. The company has a market capitalization of $327 million, a P/E ratio of 13.76 and a beta of 0.33. The company has a fifty day moving average of $29.81 and a 200 day moving average of $28.93.

Bay Commercial Bank (NASDAQ:BCML) last announced its quarterly earnings data on Thursday, January 22nd. The company reported $0.63 EPS for the quarter, missing the consensus estimate of $0.65 by ($0.02). The business had revenue of $0.89 million during the quarter, compared to analysts’ expectations of $25.03 million. Bay Commercial Bank had a net margin of 16.92% and a return on equity of 7.22%. On average, sell-side analysts anticipate that Bay Commercial Bank will post 2.48 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Bay Commercial Bank

A number of institutional investors and hedge funds have recently made changes to their positions in BCML. Empowered Funds LLC boosted its stake in Bay Commercial Bank by 8.2% during the first quarter. Empowered Funds LLC now owns 37,226 shares of the company’s stock worth $937,000 after buying an additional 2,827 shares during the period. Jane Street Group LLC bought a new stake in shares of Bay Commercial Bank in the 1st quarter worth about $454,000. PNC Financial Services Group Inc. boosted its stake in shares of Bay Commercial Bank by 120.8% during the 2nd quarter. PNC Financial Services Group Inc. now owns 3,862 shares of the company’s stock worth $107,000 after purchasing an additional 2,113 shares during the period. Geode Capital Management LLC boosted its stake in shares of Bay Commercial Bank by 1.2% during the 2nd quarter. Geode Capital Management LLC now owns 240,564 shares of the company’s stock worth $6,668,000 after purchasing an additional 2,897 shares during the period. Finally, LSV Asset Management grew its holdings in Bay Commercial Bank by 35.7% during the 2nd quarter. LSV Asset Management now owns 88,211 shares of the company’s stock valued at $2,444,000 after purchasing an additional 23,211 shares during the last quarter. 66.16% of the stock is owned by hedge funds and other institutional investors.

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.