Bay Commercial Bank (NASDAQ:BCML) Raised to Strong-Buy at Benchmark

Bay Commercial Bank (NASDAQ:BCML) was upgraded by equities researchers at Benchmark to a “strong-buy” rating in a note issued to investors on Wednesday, Zacks reports.

Other equities research analysts have also issued reports about the stock. Weiss Ratings lowered shares of Bay Commercial Bank from a “buy (a-)” rating to a “buy (b-)” rating in a research note on Thursday, August 13th. Zacks Research lowered Bay Commercial Bank from a “hold” rating to a “strong sell” rating in a report on Thursday, July 30th. DA Davidson downgraded Bay Commercial Bank from a “buy” rating to a “neutral” rating and set a $34.00 target price for the company. in a research note on Tuesday, May 26th. Finally, Wall Street Zen raised shares of Bay Commercial Bank from a “strong sell” rating to a “sell” rating in a research note on Saturday, September 5th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Bay Commercial Bank presently has a consensus rating of “Hold” and a consensus price target of $34.00.

Bay Commercial Bank Trading Up 1.9%

Bay Commercial Bank stock opened at $30.21 on Wednesday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.09. Bay Commercial Bank has a 52 week low of $26.78 and a 52 week high of $34.98. The company has a market capitalization of $329.89 million, a price-to-earnings ratio of 25.18 and a beta of 0.28. The stock has a 50-day moving average price of $30.73 and a 200 day moving average price of $30.73.

Bay Commercial Bank (NASDAQ:BCML) last posted 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 business had revenue of $1.49 million for the quarter, compared to analysts’ expectations of $26.30 million. Bay Commercial Bank had a return on equity of 6.98% and a net margin of 9.20%. Sell-side analysts anticipate that Bay Commercial Bank will post 2.05 EPS for the current year.

Insider Activity at Bay Commercial Bank

In other Bay Commercial Bank news, CEO Christopher Baron purchased 8,250 shares of Bay Commercial Bank stock in a transaction dated Monday, August 10th. The shares were acquired at an average price of $30.39 per share, with a total value of $250,717.50. Following the completion of the transaction, the chief executive officer owned 9,247 shares of the company’s stock, valued at $281,016.33. This trade represents a 827.48% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Robert Laverne purchased 1,000 shares of the firm’s stock in a transaction on Thursday, August 20th. The stock was acquired at an average cost of $29.95 per share, with a total value of $29,950.00. Following the transaction, the director directly owned 92,628 shares in the company, valued at $2,774,208.60. This trade represents a 1.09% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders have bought 14,250 shares of company stock worth $431,518. 2.90% of the stock is currently owned by company insiders.

Institutional Trading of Bay Commercial Bank

Several hedge funds have recently added to or reduced their stakes in the company. Empowered Funds LLC grew its holdings in Bay Commercial Bank by 9.9% during the 1st quarter. Empowered Funds LLC now owns 56,053 shares of the company’s stock worth $1,666,000 after acquiring an additional 5,052 shares in the last quarter. Quantinno Capital Management LP lifted its position in shares of Bay Commercial Bank by 18.8% during the 1st quarter. Quantinno Capital Management LP now owns 23,389 shares of the company’s stock worth $695,000 after purchasing an additional 3,697 shares during the last quarter. Bank of America Corp DE grew its stake in shares of Bay Commercial Bank by 23.9% during the first quarter. Bank of America Corp DE now owns 14,780 shares of the company’s stock worth $439,000 after purchasing an additional 2,854 shares in the last quarter. Sei Investments Co. increased its holdings in Bay Commercial Bank by 42.3% in the first quarter. Sei Investments Co. now owns 13,793 shares of the company’s stock valued at $410,000 after buying an additional 4,100 shares during the last quarter. Finally, IMC Chicago LLC purchased a new position in Bay Commercial Bank in the second quarter valued at $418,000. Institutional investors and hedge funds own 66.16% of the company’s stock.

Bay Commercial Bank Company Profile

BayCom Corp is a bank holding company that operates through its banking subsidiary, United Business Bank. The institution provides commercial banking services to businesses, professionals, nonprofit organizations and individuals, with a focus on relationship-based banking and customized financial solutions.

Its products and services generally include business and commercial real estate loans, construction and industrial financing, lines of credit, equipment financing, deposit accounts, treasury management and online banking.