Shares of BayCom Corp (NASDAQ:BCML) have earned an average recommendation of “Buy” from the six research firms that are presently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $26.25.
BCML has been the topic of a number of analyst reports. ValuEngine upgraded BayCom from a “sell” rating to a “hold” rating in a report on Wednesday, January 2nd. Hovde Group initiated coverage on BayCom in a report on Monday, February 4th. They set an “outperform” rating and a $24.50 target price on the stock. Zacks Investment Research upgraded BayCom from a “hold” rating to a “strong-buy” rating and set a $26.00 target price on the stock in a report on Thursday, January 3rd. TheStreet upgraded BayCom from a “c+” rating to a “b” rating in a report on Monday, January 28th. Finally, B. Riley initiated coverage on BayCom in a report on Friday. They set a “buy” rating and a $28.00 target price on the stock.
Several hedge funds have recently bought and sold shares of BCML. Vanguard Group Inc boosted its holdings in shares of BayCom by 14.9% during the third quarter. Vanguard Group Inc now owns 480,637 shares of the company’s stock worth $12,824,000 after purchasing an additional 62,271 shares during the last quarter. Bank of Montreal Can boosted its holdings in shares of BayCom by 25.4% during the fourth quarter. Bank of Montreal Can now owns 7,940 shares of the company’s stock worth $183,000 after purchasing an additional 1,607 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of BayCom during the fourth quarter worth $390,000. D.A. Davidson & CO. boosted its holdings in shares of BayCom by 11.6% during the fourth quarter. D.A. Davidson & CO. now owns 19,148 shares of the company’s stock worth $442,000 after purchasing an additional 1,991 shares during the last quarter. Finally, Rhumbline Advisers boosted its holdings in shares of BayCom by 47.0% during the fourth quarter. Rhumbline Advisers now owns 14,209 shares of the company’s stock worth $328,000 after purchasing an additional 4,542 shares during the last quarter. Institutional investors and hedge funds own 66.97% of the company’s stock.
Shares of NASDAQ:BCML opened at $22.40 on Friday. The firm has a market cap of $235.34 million, a price-to-earnings ratio of 13.58, a P/E/G ratio of 1.02 and a beta of 0.36. BayCom has a one year low of $17.19 and a one year high of $26.94.
BayCom (NASDAQ:BCML) last announced its earnings results on Tuesday, January 29th. The company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.03. The company had revenue of $15.52 million for the quarter, compared to analyst estimates of $15.90 million. Equities research analysts forecast that BayCom will post 2.23 earnings per share for the current year.
BayCom Corp., through its subsidiary, United Business Bank, provides commercial banking products and services to businesses and individuals. The company offers personal and business savings and checking accounts, money market accounts, and certificates of deposit, as well as individual retirement and health savings accounts; business loans, including term loans, equipment financing, commercial real estate loans, construction loans, small business loans, and business and industry loans; and business credit products, such as business lines of credit, asset-based lines of credit, letters of credit, and business credit cards.
Further Reading: Beta
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