BayCom (NASDAQ:BCML) Coverage Initiated by Analysts at Hovde Group

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

BayCom Price Performance

Shares of BayCom stock opened at $19.41 on Monday. BayCom has a 52-week low of $15.02 and a 52-week high of $24.31. The stock has a market capitalization of $222.63 million, a price-to-earnings ratio of 8.78 and a beta of 0.76. The company has a fifty day moving average of $19.99 and a 200-day moving average of $20.81. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.05 and a current ratio of 1.05.

BayCom (NASDAQ:BCML) last announced its quarterly earnings data on Thursday, January 25th. The company reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.02). BayCom had a net margin of 19.27% and a return on equity of 8.45%. The business had revenue of $26.20 million during the quarter, compared to analysts’ expectations of $25.90 million. Equities research analysts expect that BayCom will post 2.13 EPS for the current year.

BayCom Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Saturday, March 16th were issued a dividend of $0.10 per share. 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 dividend payout ratio is currently 18.10%.

Institutional Investors Weigh In On BayCom

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC raised its holdings in BayCom by 13.4% during the 4th quarter. SG Americas Securities LLC now owns 6,204 shares of the company’s stock valued at $146,000 after buying an additional 732 shares during the last quarter. New York State Common Retirement Fund raised its holdings in BayCom by 55.8% during the 4th quarter. New York State Common Retirement Fund now owns 4,505 shares of the company’s stock valued at $106,000 after buying an additional 1,613 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in BayCom by 46.8% during the 4th quarter. BNP Paribas Financial Markets now owns 16,012 shares of the company’s stock valued at $378,000 after buying an additional 5,106 shares during the last quarter. O Shaughnessy Asset Management LLC bought a new stake in BayCom during the 3rd quarter valued at $281,000. Finally, Assenagon Asset Management S.A. raised its holdings in BayCom by 72.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 39,700 shares of the company’s stock valued at $937,000 after buying an additional 16,682 shares during the last quarter. 66.16% of the stock is currently 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.