Bay Commercial Bank (NASDAQ:BCML) Stock Has Consensus Price Target of $34.00

Bay Commercial Bank (NASDAQ:BCML) has been given a consensus rating of “Moderate Buy” by the five analysts that are presently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation, one has assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $34.00.

Several research firms recently issued reports on BCML. Wall Street Zen upgraded Bay Commercial Bank from a “strong sell” rating to a “sell” rating in a report on Saturday, September 5th. Weiss Ratings downgraded shares of Bay Commercial Bank from a “buy (a-)” rating to a “buy (b-)” rating in a research report on Thursday, August 13th. Zacks Research raised shares of Bay Commercial Bank from a “strong sell” rating to a “hold” rating in a research note on Monday. Finally, Benchmark upgraded shares of Bay Commercial Bank to a “strong-buy” rating in a research report on Wednesday, September 23rd.

Bay Commercial Bank Stock Performance

BCML stock opened at $30.90 on Friday. The company has a 50 day moving average price of $30.44 and a 200 day moving average price of $30.80. Bay Commercial Bank has a fifty-two week low of $26.78 and a fifty-two week high of $34.98. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.04 and a quick ratio of 1.04. The stock has a market capitalization of $337.43 million, a PE ratio of 25.75 and a beta of 0.32.

Bay Commercial Bank (NASDAQ:BCML) last announced its quarterly earnings data on Thursday, July 23rd. The company reported ($0.64) EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($1.28). The firm had revenue of $1.49 million during 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%. Analysts forecast that Bay Commercial Bank will post 2.05 EPS for the current year.

Bay Commercial Bank Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 8th. Shareholders of record on Thursday, September 10th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $1.20 dividend on an annualized basis and a yield of 3.9%. Bay Commercial Bank’s dividend payout ratio (DPR) is presently 100.00%.

Insiders Place Their Bets

In related news, CEO Christopher F. Baron purchased 8,250 shares of the business’s stock in a transaction dated Monday, August 10th. The shares were bought at an average price of $30.39 per share, with a total value of $250,717.50. Following the purchase, the chief executive officer directly owned 9,247 shares in the company, valued at $281,016.33. This trade represents a 827.48% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director Michael J. Perdue purchased 5,000 shares of Bay Commercial Bank stock in a transaction dated Friday, July 31st. The stock was bought at an average price of $30.17 per share, for a total transaction of $150,850.00. Following the completion of the transaction, the director directly owned 8,000 shares in the company, valued at $241,360. The trade was a 166.67% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders acquired 14,250 shares of company stock valued at $431,518. Company insiders own 2.90% of the company’s stock.

Institutional Investors Weigh In On Bay Commercial Bank

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Assetmark Inc. acquired a new position in shares of Bay Commercial Bank during the 1st quarter worth about $34,000. NewEdge Advisors LLC bought a new stake in shares of Bay Commercial Bank in the 2nd quarter valued at about $269,000. marrick wealth LLC acquired a new stake in shares of Bay Commercial Bank in the 4th quarter valued at approximately $294,000. Sei Investments Co. raised its position in shares of Bay Commercial Bank by 42.3% in the 1st quarter. Sei Investments Co. now owns 13,793 shares of the company’s stock valued at $410,000 after acquiring an additional 4,100 shares during the period. Finally, IMC Chicago LLC bought a new position in Bay Commercial Bank during the 2nd quarter worth approximately $418,000. Institutional investors own 66.16% of the company’s stock.

About Bay Commercial Bank

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.