BayCom (NASDAQ:BCML) Receives New Coverage from Analysts at Hovde Group

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

BayCom Price Performance

Shares of NASDAQ:BCML opened at $19.41 on Monday. BayCom has a twelve month low of $15.02 and a twelve month high of $24.31. The company’s 50 day moving average is $19.99 and its 200 day moving average is $20.81. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.23. The company has a market cap of $222.63 million, a PE ratio of 8.78 and a beta of 0.76.

BayCom (NASDAQ:BCML) last issued its quarterly earnings data on Thursday, January 25th. The company reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.02). The firm had revenue of $26.20 million for the quarter, compared to analyst estimates of $25.90 million. BayCom had a return on equity of 8.45% and a net margin of 19.27%. On average, sell-side analysts forecast that BayCom will post 2.13 EPS for the current year.

BayCom Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Saturday, March 16th were issued a $0.10 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.40 dividend on an annualized basis and a yield of 2.06%. BayCom’s payout ratio is currently 18.10%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. raised its holdings in shares of BayCom by 72.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 39,700 shares of the company’s stock worth $937,000 after acquiring an additional 16,682 shares during the period. LSV Asset Management purchased a new position in shares of BayCom during the 4th quarter worth $717,000. Los Angeles Capital Management LLC purchased a new position in shares of BayCom during the 4th quarter worth $615,000. BNP Paribas Financial Markets raised its holdings in shares of BayCom by 46.8% during the 4th quarter. BNP Paribas Financial Markets now owns 16,012 shares of the company’s stock worth $378,000 after acquiring an additional 5,106 shares during the period. Finally, O Shaughnessy Asset Management LLC purchased a new position in shares of BayCom during the 3rd quarter worth $281,000. Hedge funds and other 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.