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

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

BayCom Price Performance

Shares of BayCom stock opened at $20.11 on Monday. BayCom has a one year low of $15.02 and a one year high of $24.31. The stock’s fifty day moving average is $20.01 and its 200 day moving average is $20.80. The stock has a market cap of $230.64 million, a P/E ratio of 9.10 and a beta of 0.76. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.05 and a current ratio of 1.05.

BayCom (NASDAQ:BCML) last announced its earnings results on Thursday, January 25th. The company reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.02). The company had revenue of $26.20 million during 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%. Sell-side analysts anticipate that BayCom will post 2.13 earnings per share for the current year.

BayCom Announces Dividend

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

Institutional Investors Weigh In On BayCom

A number of institutional investors and hedge funds have recently bought and sold shares of BCML. SG Americas Securities LLC bought a new stake in shares of BayCom in the third quarter worth about $105,000. New York State Common Retirement Fund increased its holdings 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 purchasing an additional 1,613 shares during the last quarter. O Shaughnessy Asset Management LLC bought a new stake in shares of BayCom in the third quarter worth about $281,000. BNP Paribas Financial Markets increased its holdings 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 purchasing an additional 5,106 shares during the last quarter. Finally, Assenagon Asset Management S.A. bought a new stake in shares of BayCom in the third quarter worth about $442,000. 66.16% of the stock is owned by institutional investors.

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.