Bay Commercial Bank (NASDAQ:BCML) Rating Lowered to Strong Sell at Wall Street Zen

Bay Commercial Bank (NASDAQ:BCML) was downgraded by Wall Street Zen from a “hold” rating to a “strong sell” rating in a report issued on Saturday.

Other analysts have also issued research reports about the stock. Weiss Ratings raised shares of Bay Commercial Bank from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Thursday, July 30th. DA Davidson downgraded 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 note on Tuesday, May 26th. 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 issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $34.00.

Bay Commercial Bank Price Performance

NASDAQ:BCML opened at $31.07 on Friday. Bay Commercial Bank has a fifty-two week low of $26.78 and a fifty-two week high of $34.98. The company’s 50-day simple moving average is $32.19 and its 200-day simple moving average is $30.68. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a market capitalization of $339.28 million, a P/E ratio of 25.89 and a beta of 0.28.

Bay Commercial Bank (NASDAQ:BCML) last announced its earnings results on Thursday, July 23rd. The company reported ($0.64) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($1.28). The business had revenue of $1.49 million for the quarter, compared to analyst estimates of $26.30 million. Bay Commercial Bank had a net margin of 9.20% and a return on equity of 6.98%. On average, equities analysts anticipate that Bay Commercial Bank will post 2.29 earnings per share for the current fiscal year.

Insider Transactions at Bay Commercial Bank

In related news, Director Michael J. Perdue bought 5,000 shares of the stock in a transaction dated Friday, July 31st. The stock was acquired 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 owned 8,000 shares in the company, valued at $241,360. This represents a 166.67% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Christopher F. Baron purchased 8,250 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The stock was acquired at an average price of $30.39 per share, for a total transaction of $250,717.50. Following the purchase, the chief executive officer owned 9,247 shares of the company’s stock, valued at approximately $281,016.33. This represents a 827.48% increase in their position. The SEC filing for this purchase provides additional information. In the last ninety days, insiders have bought 18,250 shares of company stock valued at $556,268. Corporate insiders own 2.90% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. boosted its position in shares of 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. Assetmark Inc. acquired a new position in Bay Commercial Bank in the first quarter worth approximately $34,000. Tower Research Capital LLC TRC raised 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 in the last quarter. Kestra Advisory Services LLC acquired a new stake in Bay Commercial Bank in the fourth quarter valued at approximately $57,000. Finally, BNP Paribas Financial Markets increased its stake in shares of Bay Commercial Bank by 107.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,173 shares of the company’s stock worth $62,000 after purchasing an additional 1,126 shares during the last quarter. Institutional investors and hedge funds own 66.16% of the company’s stock.

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.