BayCom (NASDAQ:BCML) Posts Quarterly Earnings Results, Beats Expectations By $0.13 EPS

BayCom (NASDAQ:BCML – Get Rating) released its earnings results on Thursday. The company reported $0.51 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.13, MarketWatch Earnings reports. BayCom had a net margin of 22.28% and a return on equity of 8.06%.

Shares of BCML traded up $0.33 during trading hours on Friday, reaching $22.99. The company had a trading volume of 3,006 shares, compared to its average volume of 56,245. The firm has a 50 day simple moving average of $22.12 and a 200-day simple moving average of $20.31. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $314.62 million, a price-to-earnings ratio of 11.86 and a beta of 0.81. BayCom has a 12-month low of $16.47 and a 12-month high of $23.52.

The business also recently declared a quarterly dividend, which was paid on Friday, April 15th. Stockholders of record on Friday, March 11th were issued a $0.05 dividend. The ex-dividend date of this dividend was Thursday, March 10th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.87%. BayCom’s dividend payout ratio is presently 10.47%.

Several institutional investors and hedge funds have recently made changes to their positions in the company. The Manufacturers Life Insurance Company increased its holdings in shares of BayCom by 1.1% in the 4th quarter. The Manufacturers Life Insurance Company now owns 710,900 shares of the company’s stock valued at $13,336,000 after purchasing an additional 7,647 shares in the last quarter. BlackRock Inc. increased its holdings in shares of BayCom by 1.7% in the 4th quarter. BlackRock Inc. now owns 103,579 shares of the company’s stock valued at $1,942,000 after purchasing an additional 1,752 shares in the last quarter. Morgan Stanley increased its holdings in shares of BayCom by 116.8% in the 3rd quarter. Morgan Stanley now owns 28,113 shares of the company’s stock valued at $523,000 after purchasing an additional 15,148 shares in the last quarter. Susquehanna International Group LLP increased its holdings in BayCom by 107.0% during the 4th quarter. Susquehanna International Group LLP now owns 27,984 shares of the company’s stock valued at $525,000 after acquiring an additional 14,462 shares in the last quarter. Finally, Two Sigma Investments LP increased its holdings in BayCom by 13.6% during the 3rd quarter. Two Sigma Investments LP now owns 14,200 shares of the company’s stock valued at $264,000 after acquiring an additional 1,695 shares in the last quarter. Institutional investors and hedge funds own 53.08% of the company’s stock.

Separately, Zacks Investment Research upgraded shares of BayCom from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a research note on Tuesday, April 5th.

About BayCom (Get Rating)

BayCom Corp operates as the bank holding company for United Business Bank that provides various financial services to businesses, business owners, and individuals. The company offers demand, savings, money market, and time deposit accounts. It also provides 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.

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