BayCom (NASDAQ:BCML) Downgraded to Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of BayCom (NASDAQ:BCML) from a hold rating to a sell rating in a research note published on Wednesday morning, Zacks.com reports.

According to Zacks, “BayCom Corp provides commercial banking products and services to businesses and individuals. The company offers deposit products, loans, online banking, cash management and banking services. BayCom Corp, formerly known as Bay Commercial Bank, is based in Walnut Creek, California. “

Other analysts also recently issued reports about the company. B. Riley set a $28.00 price objective on BayCom and gave the company a buy rating in a report on Friday, September 6th. ValuEngine upgraded BayCom from a sell rating to a hold rating in a research note on Wednesday, July 31st. One analyst has rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company. The company has an average rating of Hold and an average target price of $26.17.



Shares of BCML stock traded up $0.24 on Wednesday, reaching $23.99. The company’s stock had a trading volume of 45,558 shares, compared to its average volume of 17,595. The stock’s fifty day simple moving average is $21.96 and its 200-day simple moving average is $22.51. BayCom has a 1 year low of $17.19 and a 1 year high of $26.75. The company has a market capitalization of $264.79 million, a price-to-earnings ratio of 14.54, a price-to-earnings-growth ratio of 1.09 and a beta of 0.37.

BayCom (NASDAQ:BCML) last posted its quarterly earnings data on Friday, July 26th. The company reported $0.47 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.06). The business had revenue of $18.56 million for the quarter, compared to the consensus estimate of $19.48 million. On average, research analysts expect that BayCom will post 2.02 earnings per share for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. grew its holdings in BayCom by 3.4% in the 2nd quarter. Russell Investments Group Ltd. now owns 21,284 shares of the company’s stock valued at $466,000 after buying an additional 692 shares in the last quarter. Bank of Montreal Can boosted its holdings in BayCom by 66.4% during the 2nd quarter. Bank of Montreal Can now owns 2,319 shares of the company’s stock valued at $51,000 after acquiring an additional 925 shares during the period. Acadian Asset Management LLC boosted its holdings in BayCom by 1.4% during the 2nd quarter. Acadian Asset Management LLC now owns 68,318 shares of the company’s stock valued at $1,497,000 after acquiring an additional 954 shares during the period. Charles Schwab Investment Management Inc. raised its position in BayCom by 4.9% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 24,057 shares of the company’s stock valued at $527,000 after purchasing an additional 1,113 shares in the last quarter. Finally, BNP Paribas Arbitrage SA raised its position in BayCom by 513.3% in the 1st quarter. BNP Paribas Arbitrage SA now owns 2,165 shares of the company’s stock valued at $49,000 after purchasing an additional 1,812 shares in the last quarter. 58.28% of the stock is owned by hedge funds and other institutional investors.

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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