Brokers Set Expectations for BayCom Corp’s Q2 2020 Earnings (NASDAQ:BCML)

BayCom Corp (NASDAQ:BCML) – Investment analysts at B. Riley decreased their Q2 2020 earnings per share estimates for shares of BayCom in a research note issued to investors on Thursday, January 9th. B. Riley analyst S. Moss now anticipates that the company will earn $0.54 per share for the quarter, down from their previous estimate of $0.55.

BCML has been the topic of several other research reports. Zacks Investment Research raised BayCom from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th. ValuEngine upgraded shares of BayCom from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $26.17.

Shares of NASDAQ:BCML opened at $22.23 on Monday. BayCom has a 12 month low of $19.74 and a 12 month high of $24.89. The stock has a market cap of $287.59 million, a price-to-earnings ratio of 13.47 and a beta of 0.36. The stock’s 50 day moving average price is $22.30 and its 200 day moving average price is $22.25.

BayCom (NASDAQ:BCML) last announced its earnings results on Monday, October 28th. The company reported $0.46 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.56 by ($0.10). The company had revenue of $19.87 million during the quarter, compared to analysts’ expectations of $21.19 million.

A number of institutional investors have recently bought and sold shares of BCML. Covington Capital Management acquired a new position in BayCom in the second quarter worth approximately $2,266,000. River & Mercantile Asset Management LLP purchased a new position in BayCom during the 2nd quarter worth approximately $1,942,000. Millennium Management LLC purchased a new position in BayCom during the 3rd quarter worth approximately $1,356,000. First Trust Advisors LP purchased a new position in BayCom during the 3rd quarter worth approximately $590,000. Finally, BlackRock Inc. grew its position in BayCom by 3.0% during the 2nd quarter. BlackRock Inc. now owns 522,280 shares of the company’s stock worth $11,438,000 after purchasing an additional 15,413 shares in the last quarter. Hedge funds and other institutional investors own 53.19% of the company’s stock.

BayCom Company Profile

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 multi-family 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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