BayCom (NASDAQ:BCML) Earns Outperform Rating from Analysts at Hovde Group

Hovde Group assumed coverage on shares of BayCom (NASDAQ:BCML) in a research report report published on Monday morning, StockNewsAPI reports. The firm issued an outperform rating and a $24.00 target price on the stock.

BayCom Stock Performance

BayCom stock opened at $20.11 on Monday. The firm has a market capitalization of $230.64 million, a P/E ratio of 9.10 and a beta of 0.76. The stock has a fifty day moving average price of $20.01 and a 200 day moving average price of $20.80. BayCom has a 52 week low of $15.02 and a 52 week high of $24.31. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.23.

BayCom (NASDAQ:BCML) last released its earnings results on Thursday, January 25th. The company reported $0.55 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.02). The business had revenue of $26.20 million during the quarter, compared to analyst estimates of $25.90 million. BayCom had a net margin of 19.27% and a return on equity of 8.45%. Equities research analysts anticipate that BayCom will post 2.13 earnings per share for the current year.

BayCom Dividend Announcement

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

Institutional Investors Weigh In On BayCom

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. acquired a new stake in BayCom during the third quarter worth about $442,000. O Shaughnessy Asset Management LLC purchased a new stake in shares of BayCom in the third quarter worth about $281,000. SG Americas Securities LLC boosted its position in shares of BayCom by 13.4% in the fourth quarter. SG Americas Securities LLC now owns 6,204 shares of the company’s stock worth $146,000 after buying an additional 732 shares during the period. BNP Paribas Financial Markets boosted its position in shares of BayCom by 46.8% in the fourth quarter. BNP Paribas Financial Markets now owns 16,012 shares of the company’s stock worth $378,000 after buying an additional 5,106 shares during the period. Finally, New York State Common Retirement Fund boosted its position in shares of BayCom by 55.8% in the fourth quarter. New York State Common Retirement Fund now owns 4,505 shares of the company’s stock worth $106,000 after buying an additional 1,613 shares during the period. 66.16% of the stock is currently owned by institutional investors and hedge funds.

BayCom Company Profile

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.