BayCom (NASDAQ:BCML) Research Coverage Started at Hovde Group

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

BayCom Stock Up 0.2 %

Shares of BayCom stock opened at $20.10 on Monday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.23. The firm has a market cap of $230.55 million, a P/E ratio of 9.10 and a beta of 0.76. BayCom has a fifty-two week low of $15.02 and a fifty-two week high of $24.31. The business has a 50-day moving average price of $20.00 and a 200 day moving average price of $20.81.

BayCom (NASDAQ:BCML) last posted 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 company had revenue of $26.20 million for the quarter, compared to the consensus estimate of $25.90 million. BayCom had a net margin of 19.27% and a return on equity of 8.45%. On average, sell-side analysts forecast that BayCom will post 2.13 earnings per share for the current fiscal year.

BayCom Announces Dividend

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

Hedge Funds Weigh In On BayCom

Several institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC bought a new position in BayCom in the 3rd quarter worth approximately $105,000. New York State Common Retirement Fund grew its holdings in BayCom by 55.8% in the 4th 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 in the last quarter. O Shaughnessy Asset Management LLC bought a new position in BayCom in the 3rd quarter worth approximately $281,000. BNP Paribas Financial Markets grew its holdings in BayCom by 46.8% in the 4th 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 in the last quarter. Finally, Assenagon Asset Management S.A. bought a new position in BayCom in the 3rd quarter worth approximately $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.