Hovde Group Increases BayCom (NASDAQ:BCML) Price Target to $28.00

BayCom (NASDAQ:BCML) had its price target boosted by equities research analysts at Hovde Group from $26.00 to $28.00 in a research note issued to investors on Friday, MarketBeat reports. The brokerage currently has an “outperform” rating on the stock. Hovde Group’s target price indicates a potential upside of 14.24% from the stock’s previous close.

BayCom Price Performance

BCML opened at $24.51 on Friday. The company’s 50-day simple moving average is $23.03 and its two-hundred day simple moving average is $21.44. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a market capitalization of $275.69 million, a P/E ratio of 11.09 and a beta of 0.77. BayCom has a 52-week low of $18.54 and a 52-week high of $25.04.

BayCom (NASDAQ:BCML) last issued its earnings results on Thursday, July 18th. The company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.02. The company had revenue of $33.89 million for the quarter, compared to analysts’ expectations of $23.80 million. BayCom had a net margin of 17.88% and a return on equity of 7.84%. As a group, analysts predict that BayCom will post 1.95 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of BCML. Bank of New York Mellon Corp increased its position in shares of BayCom by 3.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 45,509 shares of the company’s stock valued at $926,000 after purchasing an additional 1,380 shares during the last quarter. Empowered Funds LLC grew its position in BayCom by 7.8% during the first quarter. Empowered Funds LLC now owns 29,027 shares of the company’s stock valued at $598,000 after buying an additional 2,100 shares during the period. Acadian Asset Management LLC increased its holdings in BayCom by 1.1% during the first quarter. Acadian Asset Management LLC now owns 198,360 shares of the company’s stock valued at $4,086,000 after buying an additional 2,191 shares during the last quarter. Renaissance Technologies LLC raised its position in BayCom by 3.2% in the second quarter. Renaissance Technologies LLC now owns 80,500 shares of the company’s stock worth $1,638,000 after acquiring an additional 2,500 shares during the period. Finally, Vanguard Group Inc. boosted its stake in shares of BayCom by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 668,965 shares of the company’s stock worth $13,787,000 after acquiring an additional 2,801 shares during the last quarter. Institutional investors own 66.16% of the company’s stock.

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.