DA Davidson Equities Analysts Reduce Earnings Estimates for BayCom Corp (NASDAQ:BCML)

BayCom Corp (NASDAQ:BCML) – Equities research analysts at DA Davidson decreased their FY2024 EPS estimates for BayCom in a research report issued on Tuesday, April 23rd. DA Davidson analyst G. Tenner now expects that the company will earn $2.05 per share for the year, down from their prior estimate of $2.35. The consensus estimate for BayCom’s current full-year earnings is $2.13 per share.

BayCom (NASDAQ:BCML) last posted its quarterly earnings results on Thursday, January 25th. The company reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.02). The business had revenue of $26.20 million for the quarter, compared to the consensus estimate of $25.90 million. BayCom had a return on equity of 8.45% and a net margin of 19.27%.

Separately, Hovde Group began coverage on shares of BayCom in a research note on Monday. They set an “outperform” rating and a $24.00 price target for the company.

BayCom Trading Up 0.2 %

BCML opened at $20.10 on Thursday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.05 and a quick ratio of 1.05. The company has a market cap of $230.55 million, a price-to-earnings ratio of 9.10 and a beta of 0.76. The firm has a 50 day simple moving average of $20.00 and a 200 day simple moving average of $20.81. BayCom has a fifty-two week low of $15.02 and a fifty-two week high of $24.31.

BayCom Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Saturday, March 16th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.99%. The ex-dividend date of this dividend was Thursday, March 14th. BayCom’s payout ratio is presently 18.10%.

Institutional Investors Weigh In On BayCom

Several large investors have recently bought and sold shares of BCML. LSV Asset Management bought a new stake in BayCom in the fourth quarter valued at approximately $717,000. Los Angeles Capital Management LLC bought a new stake in shares of BayCom during the fourth quarter worth $615,000. Assenagon Asset Management S.A. bought a new stake in shares of BayCom during the third quarter worth $442,000. O Shaughnessy Asset Management LLC bought a new stake in shares of BayCom during the third quarter worth $281,000. Finally, SG Americas Securities LLC bought a new stake in shares of BayCom during the third quarter worth $105,000. Institutional investors own 66.16% of the company’s stock.

About BayCom

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.