Wall Street Zen Downgrades Bay Commercial Bank (NASDAQ:BCML) to Sell

Wall Street Zen lowered shares of Bay Commercial Bank (NASDAQ:BCMLFree Report) from a hold rating to a sell rating in a report issued on Saturday.

Bay Commercial Bank Trading Up 0.8%

NASDAQ BCML opened at $26.82 on Friday. Bay Commercial Bank has a one year low of $18.79 and a one year high of $30.13. The company’s 50 day moving average price is $26.52 and its 200 day moving average price is $26.67. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.05 and a current ratio of 1.05. The firm has a market capitalization of $295.29 million, a price-to-earnings ratio of 12.77 and a beta of 0.52.

Bay Commercial Bank (NASDAQ:BCMLGet Free Report) last posted its quarterly earnings results on Thursday, April 17th. The company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.01). Bay Commercial Bank had a net margin of 16.94% and a return on equity of 7.26%. The business had revenue of $32.65 million during the quarter, compared to analysts’ expectations of $24.07 million. On average, sell-side analysts predict that Bay Commercial Bank will post 2.48 EPS for the current year.

Bay Commercial Bank Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Thursday, June 12th will be issued a $0.20 dividend. This is a positive change from Bay Commercial Bank’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Thursday, June 12th. This represents a $0.80 annualized dividend and a yield of 2.98%. Bay Commercial Bank’s dividend payout ratio (DPR) is presently 38.10%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of BCML. PNC Financial Services Group Inc. raised its holdings in Bay Commercial Bank by 46.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,347 shares of the company’s stock valued at $36,000 after buying an additional 428 shares during the period. Russell Investments Group Ltd. raised its stake in shares of Bay Commercial Bank by 3,097.3% during the fourth quarter. Russell Investments Group Ltd. now owns 3,613 shares of the company’s stock valued at $97,000 after purchasing an additional 3,500 shares during the period. GAMMA Investing LLC raised its stake in shares of Bay Commercial Bank by 7,206.9% during the first quarter. GAMMA Investing LLC now owns 5,261 shares of the company’s stock valued at $132,000 after purchasing an additional 5,189 shares during the period. Wells Fargo & Company MN raised its stake in shares of Bay Commercial Bank by 27.8% during the fourth quarter. Wells Fargo & Company MN now owns 6,141 shares of the company’s stock valued at $165,000 after purchasing an additional 1,337 shares during the period. Finally, Deutsche Bank AG raised its stake in shares of Bay Commercial Bank by 31.1% during the fourth quarter. Deutsche Bank AG now owns 6,444 shares of the company’s stock valued at $173,000 after purchasing an additional 1,529 shares during the period. Hedge funds and other institutional investors own 66.16% of the company’s stock.

About Bay Commercial Bank

(Get Free Report)

BayCom Corp operates as the bank holding company for United Business Bank that provides various financial services to small and mid-sized businesses, service professionals, and individuals. The company provides demand, savings, money market, and time deposit accounts. It offers commercial and multifamily real estate loans, including owner-occupied and investor real estate loans; commercial and industrial loans, such as equipment loans and working capital lines of credit; small business administration loans; construction and land loans; agriculture-related loans; and consumer loans comprising installment loans, unsecured and secured personal lines of credit, and overdraft protection.

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