BayCom (NASDAQ:BCML) Coverage Initiated at Hovde Group

Analysts at Hovde Group initiated coverage on shares of BayCom (NASDAQ:BCML) in a note issued to investors on Monday, StockNewsAPI reports. The brokerage set an “outperform” rating and a $24.00 price target on the stock. Hovde Group’s target price indicates a potential upside of 19.70% from the company’s current price.

BayCom Trading Up 3.3 %

BCML opened at $20.05 on Monday. The firm has a market cap of $229.97 million, a price-to-earnings ratio of 9.07 and a beta of 0.76. BayCom has a 52 week low of $15.02 and a 52 week high of $24.31. The business’s 50 day moving average is $20.00 and its two-hundred day moving average is $20.81. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.23.

BayCom (NASDAQ:BCML) last released its quarterly 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). BayCom had a return on equity of 8.45% and a net margin of 19.27%. The firm had revenue of $26.20 million for the quarter, compared to analyst estimates of $25.90 million. On average, research analysts predict that BayCom will post 2.13 EPS for the current year.

Institutional Trading of BayCom

A number of institutional investors have recently modified their holdings of the business. Assenagon Asset Management S.A. boosted its stake in shares of BayCom by 72.5% in the fourth 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 in the last quarter. LSV Asset Management purchased a new stake in BayCom during the fourth quarter worth $717,000. Los Angeles Capital Management LLC purchased a new stake in BayCom during the fourth quarter worth $615,000. BNP Paribas Financial Markets boosted its position in BayCom by 46.8% during the fourth quarter. BNP Paribas Financial Markets now owns 16,012 shares of the company’s stock worth $378,000 after purchasing an additional 5,106 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC purchased a new stake in BayCom during the third quarter worth $281,000. 66.16% of the stock is currently 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 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.