Bay Commercial Bank (NASDAQ:BCML) Releases Earnings Results, Misses Expectations By $0.02 EPS

Bay Commercial Bank (NASDAQ:BCML) released its quarterly earnings data on Thursday. The company reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.02), FiscalAI reports. The firm had revenue of $0.89 million for the quarter, compared to the consensus estimate of $25.03 million. Bay Commercial Bank had a net margin of 16.92% and a return on equity of 7.22%.

Bay Commercial Bank Stock Down 3.0%

BCML opened at $29.18 on Friday. The firm has a market cap of $318.06 million, a price-to-earnings ratio of 13.39 and a beta of 0.34. 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 firm’s 50-day simple moving average is $29.65 and its 200-day simple moving average is $28.86. Bay Commercial Bank has a twelve month low of $22.22 and a twelve month high of $33.15.

Bay Commercial Bank Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 9th. Stockholders of record on Thursday, December 11th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend was Thursday, December 11th. This is a positive change from Bay Commercial Bank’s previous quarterly dividend of $0.25. Bay Commercial Bank’s payout ratio is currently 57.14%.

Hedge Funds Weigh In On Bay Commercial Bank

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BCML. Rhumbline Advisers increased its holdings in shares of Bay Commercial Bank by 3.5% during the second quarter. Rhumbline Advisers now owns 16,673 shares of the company’s stock worth $462,000 after buying an additional 564 shares in the last quarter. Ameriprise Financial Inc. grew its position in Bay Commercial Bank by 3.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 23,639 shares of the company’s stock worth $655,000 after acquiring an additional 852 shares during the last quarter. Russell Investments Group Ltd. grew its position in Bay Commercial Bank by 974.3% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,085 shares of the company’s stock worth $31,000 after acquiring an additional 984 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in Bay Commercial Bank by 107.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,173 shares of the company’s stock valued at $62,000 after purchasing an additional 1,126 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its position 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 purchasing an additional 1,145 shares during the last quarter. 66.16% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BCML has been the topic of several analyst reports. Weiss Ratings reissued a “buy (b)” rating on shares of Bay Commercial Bank in a report on Wednesday. Wall Street Zen raised shares of Bay Commercial Bank from a “sell” rating to a “hold” rating in a report on Sunday, November 23rd. Finally, DA Davidson reissued a “buy” rating and issued a $32.00 target price on shares of Bay Commercial Bank in a research note on Tuesday, October 28th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, Bay Commercial Bank currently has an average rating of “Moderate Buy” and a consensus target price of $31.50.

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.