Hovde Group began coverage on shares of BayCom (NASDAQ:BCML) in a research note released on Monday, February 4th, Marketbeat.com reports. The firm issued an outperform rating and a $24.50 price objective on the stock.
Other research analysts have also recently issued research reports about the company. TheStreet upgraded BayCom from a c+ rating to a b rating in a research report on Monday, January 28th. ValuEngine upgraded BayCom from a sell rating to a hold rating in a research report on Wednesday, January 2nd. Finally, Zacks Investment Research cut BayCom from a strong-buy rating to a hold rating in a research report on Tuesday, October 16th. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of Buy and a consensus price target of $26.17.
Shares of BayCom stock traded up $0.18 during trading hours on Monday, hitting $23.25. 8,479 shares of the company were exchanged, compared to its average volume of 24,182. BayCom has a 1 year low of $17.19 and a 1 year high of $26.94. The stock has a market capitalization of $240.87 million, a PE ratio of 14.09, a price-to-earnings-growth ratio of 1.04 and a beta of 0.32.
BayCom (NASDAQ:BCML) last released its quarterly earnings data on Tuesday, January 29th. The company reported $0.39 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.03. The business had revenue of $15.52 million during the quarter, compared to analysts’ expectations of $15.90 million. Sell-side analysts expect that BayCom will post 2.23 EPS for the current fiscal year.
In related news, insider George J. Guarini acquired 1,400 shares of the firm’s stock in a transaction that occurred on Tuesday, December 11th. The shares were acquired at an average price of $23.00 per share, with a total value of $32,200.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.40% of the stock is owned by company insiders.
Large investors have recently modified their holdings of the business. Metropolitan Life Insurance Co. NY boosted its stake in BayCom by 356.5% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 3,771 shares of the company’s stock worth $87,000 after buying an additional 2,945 shares during the last quarter. Bank of Montreal Can boosted its stake in BayCom by 25.4% in the 4th quarter. Bank of Montreal Can now owns 7,940 shares of the company’s stock worth $183,000 after buying an additional 1,607 shares during the last quarter. First Trust Advisors LP purchased a new position in shares of BayCom in the 4th quarter worth about $264,000. Rhumbline Advisers raised its holdings in shares of BayCom by 47.0% in the 4th 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 period. Finally, Assenagon Asset Management S.A. purchased a new position in shares of BayCom in the 4th quarter worth about $390,000. 65.42% of the stock is currently owned by hedge funds and other institutional investors.
BayCom Company Profile
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.
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