Bay Commercial Bank (NASDAQ:BCML) Stock Price Expected to Rise, DA Davidson Analyst Says

Bay Commercial Bank (NASDAQ:BCML) had its target price hoisted by stock analysts at DA Davidson from $32.00 to $34.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. DA Davidson’s price objective indicates a potential upside of 19.01% from the company’s previous close.

A number of other research firms have also recently commented on BCML. Weiss Ratings restated a “buy (b)” rating on shares of Bay Commercial Bank in a research note on Wednesday, January 21st. Wall Street Zen upgraded Bay Commercial Bank from a “sell” rating to a “hold” rating in a report on Sunday, November 23rd. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $32.50.

Bay Commercial Bank Trading Down 3.0%

NASDAQ:BCML opened at $28.57 on Tuesday. Bay Commercial Bank has a 52 week low of $22.22 and a 52 week high of $33.15. The firm has a 50-day moving average price of $29.75 and a two-hundred day moving average price of $28.87. The firm has a market cap of $311.41 million, a price-to-earnings ratio of 13.11 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.

Bay Commercial Bank (NASDAQ:BCML) last posted its quarterly earnings results on Thursday, January 22nd. The company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.65 by ($0.02). Bay Commercial Bank had a net margin of 16.92% and a return on equity of 7.22%. The company had revenue of $0.89 million for the quarter, compared to the consensus estimate of $25.03 million. On average, equities analysts expect that Bay Commercial Bank will post 2.48 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Bay Commercial Bank

A number of hedge funds have recently made changes to their positions in the company. LSV Asset Management increased its position in shares of Bay Commercial Bank by 35.7% during the second quarter. LSV Asset Management now owns 88,211 shares of the company’s stock worth $2,444,000 after purchasing an additional 23,211 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in Bay Commercial Bank by 120.8% in the 2nd quarter. PNC Financial Services Group Inc. now owns 3,862 shares of the company’s stock worth $107,000 after purchasing an additional 2,113 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in shares of Bay Commercial Bank by 107.5% during the third quarter. BNP Paribas Financial Markets now owns 2,173 shares of the company’s stock valued at $62,000 after buying an additional 1,126 shares during the last quarter. Russell Investments Group Ltd. grew its stake 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 valued at $31,000 after purchasing an additional 984 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its stake in shares of Bay Commercial Bank by 236.6% in the second quarter. Tower Research Capital LLC TRC now owns 1,629 shares of the company’s stock worth $45,000 after purchasing an additional 1,145 shares during the last quarter. 66.16% of the stock is currently owned by hedge funds and other institutional investors.

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.