Bay Commercial Bk CA Down 8.76% To $19.07 After Earnings Miss

Bay Commercial Bk CA (BCML) said after close Thursday that it earned $0.38 per share in quarter two 2022.

On the revenue line, the company reported $25.2 million, beating estimates by $258 thousand.

In the same quarter a year ago, the company earned $0.49 per share on revenue of $20.2 million.

The stock is down 8.76% to $19.07 after the report.

Despite revenues increasing, earnings decreased, signaling a decline in profit margins.

The average recommendation from Wall Street analysts was a Strong Buy which may get revised based on this new data.

Trading in the five days leading up to the report earned Bay Commercial Bk CA a Bullish Sentiment Rank from InvestorsObserver.

Prior to the report, InvestorsObserver gave the stock an overall score of 60. Meanwhile, the average Wall Street analyst rated the stock a Strong Buy.

BayCom Corp is a bank holding company for United Business Bank. It provides a broad range of financial services to businesses and business owners as well as individuals through its full-service branches and loan production office. It offers traditional commercial, personal and business banking products and services. The majority of the branches are located in the San Francisco Bay Area, Seattle, Washington and Central New Mexico. Its products and services include business checking, business savings, personal checking, personal savings, business loans and business credits, cash management, and personal and business services, among others.