Zacks Research Downgrades Bay Commercial Bank (NASDAQ:BCML) to Strong Sell
by Doug Wharley · The Cerbat GemBay Commercial Bank (NASDAQ:BCML – Get Free Report) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued on Thursday,Zacks.com reports.
A number of other analysts have also recently issued reports on BCML. Weiss Ratings upgraded Bay Commercial Bank from a “buy (b+)” rating to a “buy (a-)” rating in a report on Thursday. Brean Capital lowered shares of Bay Commercial Bank from a “buy” rating to a “neutral” rating in a report on Friday, April 10th. Finally, DA Davidson cut shares of Bay Commercial Bank from a “buy” rating to a “neutral” rating and set a $34.00 price target on the stock. in a research report on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Bay Commercial Bank has an average rating of “Hold” and an average price target of $34.00.
View Our Latest Analysis on BCML
Bay Commercial Bank Trading Down 0.1%
BCML stock opened at $30.18 on Thursday. The company has a market cap of $329.26 million, a price-to-earnings ratio of 25.15 and a beta of 0.27. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.02. The business has a fifty day simple moving average of $32.22 and a 200-day simple moving average of $30.54. Bay Commercial Bank has a 52 week low of $26.31 and a 52 week high of $34.98.
Bay Commercial Bank (NASDAQ:BCML – Get Free Report) last issued its earnings results on Thursday, July 23rd. The company reported ($0.64) earnings per share 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 analyst estimates of $26.30 million. Bay Commercial Bank had a net margin of 9.20% and a return on equity of 6.96%. On average, equities research analysts expect that Bay Commercial Bank will post 2.29 EPS for the current year.
Insider Buying and Selling
In related news, Director Michael J. Perdue purchased 3,000 shares of the firm’s stock in a transaction on Tuesday, May 26th. The stock was purchased at an average price of $30.94 per share, for a total transaction of $92,820.00. Following the acquisition, the director directly owned 3,000 shares in the company, valued at $92,820. The trade was a ∞ 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 link. Company insiders own 2.90% of the company’s stock.
Institutional Trading of Bay Commercial Bank
Several large investors have recently bought and sold shares of BCML. Russell Investments Group Ltd. lifted 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 purchasing an additional 984 shares in the last quarter. Assetmark Inc. acquired a new stake in Bay Commercial Bank during the 1st quarter valued at $34,000. Tower Research Capital LLC TRC grew its holdings in Bay Commercial Bank by 236.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,629 shares of the company’s stock valued at $45,000 after purchasing an additional 1,145 shares in the last quarter. Kestra Advisory Services LLC acquired a new stake in Bay Commercial Bank during the 4th quarter valued at $57,000. Finally, BNP Paribas Financial Markets increased its stake in 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 buying an additional 1,126 shares during the period. 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.