FY2024 EPS Estimates for BayCom Corp Lowered by Analyst (NASDAQ:BCML)

BayCom Corp (NASDAQ:BCML) – Equities researchers at DA Davidson decreased their FY2024 earnings estimates for BayCom in a research report issued to clients and investors on Tuesday, April 23rd. DA Davidson analyst G. Tenner now forecasts that the company will post earnings of $2.05 per share for the year, down from their prior forecast of $2.35. The consensus estimate for BayCom’s current full-year earnings is $1.98 per share.

BayCom (NASDAQ:BCML) last issued its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $25.90 million.

Separately, Hovde Group assumed coverage on shares of BayCom in a research note on Monday, April 22nd. They issued an “outperform” rating and a $24.00 price objective on the stock.

BayCom Trading Up 0.2 %

Shares of NASDAQ:BCML opened at $20.15 on Thursday. The stock’s 50-day simple moving average is $20.00 and its two-hundred day simple moving average is $20.80. The stock has a market capitalization of $231.12 million, a price-to-earnings ratio of 9.12 and a beta of 0.76. BayCom has a 52-week low of $15.02 and a 52-week high of $24.31. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.05 and a current ratio of 1.05.

Hedge Funds Weigh In On BayCom

A number of institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC purchased a new stake in BayCom in the third quarter worth about $105,000. New York State Common Retirement Fund increased 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 acquiring an additional 1,613 shares in the last quarter. O Shaughnessy Asset Management LLC purchased a new stake in BayCom in the 3rd quarter worth approximately $281,000. BNP Paribas Financial Markets raised its stake in BayCom by 46.8% during the 4th quarter. BNP Paribas Financial Markets now owns 16,012 shares of the company’s stock worth $378,000 after acquiring an additional 5,106 shares during the period. Finally, Assenagon Asset Management S.A. purchased a new position in BayCom during the third quarter valued at approximately $442,000. 66.16% of the stock is owned by institutional investors.

BayCom Announces Dividend

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

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.