Bay Commercial Bank (NASDAQ:BCML) Posts Quarterly Earnings Results, Misses Estimates By $0.46 EPS

Bay Commercial Bank (NASDAQ:BCML) announced its quarterly earnings data on Thursday. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.46), FiscalAI reports. The company had revenue of $18.73 million for the quarter, compared to analyst estimates of $26.08 million. Bay Commercial Bank had a net margin of 9.20% and a return on equity of 6.98%.

Bay Commercial Bank Stock Up 2.5%

Shares of BCML traded up $0.77 during mid-day trading on Thursday, hitting $31.90. 133,325 shares of the company’s stock were exchanged, compared to its average volume of 50,745. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.04 and a quick ratio of 1.04. Bay Commercial Bank has a 52 week low of $26.78 and a 52 week high of $34.98. The company has a 50-day simple moving average of $30.49 and a 200 day simple moving average of $30.97. The company has a market cap of $348.35 million, a PE ratio of 26.58 and a beta of 0.32.

Bay Commercial Bank Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 8th. Shareholders of record on Thursday, September 10th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, September 10th. This represents a $1.20 dividend on an annualized basis and a yield of 3.8%. Bay Commercial Bank’s dividend payout ratio is 100.00%.

Insider Buying and Selling at Bay Commercial Bank

In related news, Director Michael Perdue purchased 5,000 shares of the firm’s stock in a transaction on Friday, July 31st. The stock was purchased at an average cost of $30.17 per share, for a total transaction of $150,850.00. Following the completion of the purchase, the director directly owned 8,000 shares in the company, valued at $241,360. This trade represents a 166.67% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert Laverne purchased 1,000 shares of the company’s stock in a transaction on Thursday, August 20th. The shares were purchased at an average cost of $29.95 per share, for a total transaction of $29,950.00. Following the completion of the transaction, the director directly owned 92,628 shares of the company’s stock, valued at approximately $2,774,208.60. This represents a 1.09% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders purchased a total of 14,250 shares of company stock worth $431,518 over the last ninety days. 2.90% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Zacks Research upgraded Bay Commercial Bank from a “strong sell” rating to a “hold” rating in a report on Monday, September 28th. Benchmark upgraded shares of Bay Commercial Bank to a “strong-buy” rating in a research note on Wednesday, September 23rd. Wall Street Zen raised Bay Commercial Bank from a “strong sell” rating to a “sell” rating in a report on Saturday, September 5th. Finally, Weiss Ratings downgraded Bay Commercial Bank from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $34.00.

About Bay Commercial Bank

BayCom Corp. is the bank holding company for Bay Community Bank, a community banking institution formerly known as Bay Commercial Bank. Headquartered in Walnut Creek, California, the bank focuses on serving small and midsized businesses, professionals, nonprofit organizations and individuals in Northern California.

Bay Community Bank provides commercial and consumer banking services, including business loans, commercial real estate financing, construction and equipment loans, residential real estate loans, lines of credit, and consumer lending.