BayCom (NASDAQ:BCML) Rating Lowered to Market Perform at Hovde Group

BayCom (NASDAQ:BCML) was downgraded by equities researchers at Hovde Group from an “outperform” rating to a “market perform” rating in a note issued to investors on Wednesday, MarketBeat Ratings reports. They presently have a $31.00 price objective on the stock. Hovde Group’s target price suggests a potential upside of 9.93% from the stock’s previous close.

BayCom Stock Up 1.5 %

BayCom stock opened at $28.20 on Wednesday. The stock has a market capitalization of $313.58 million, a PE ratio of 13.43 and a beta of 0.81. BayCom has a 12 month low of $18.54 and a 12 month high of $30.13. The business has a 50 day simple moving average of $27.44 and a 200-day simple moving average of $25.41. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.04 and a quick ratio of 1.04.

BayCom (NASDAQ:BCML) last posted its quarterly earnings data on Thursday, January 23rd. The company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. BayCom had a return on equity of 7.45% and a net margin of 17.10%. On average, analysts anticipate that BayCom will post 2.48 EPS for the current fiscal year.

Institutional Trading of BayCom

Large investors have recently made changes to their positions in the company. Royce & Associates LP increased its position in shares of BayCom by 11.5% during the third quarter. Royce & Associates LP now owns 543,211 shares of the company’s stock worth $12,885,000 after purchasing an additional 56,066 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of BayCom during the fourth quarter worth approximately $422,000. Empowered Funds LLC increased its position in shares of BayCom by 5.2% during the third quarter. Empowered Funds LLC now owns 32,795 shares of the company’s stock worth $778,000 after purchasing an additional 1,608 shares in the last quarter. Barclays PLC increased its position in shares of BayCom by 61.3% during the third quarter. Barclays PLC now owns 27,486 shares of the company’s stock worth $651,000 after purchasing an additional 10,442 shares in the last quarter. Finally, State Street Corp increased its position in shares of BayCom by 0.5% during the third quarter. State Street Corp now owns 163,965 shares of the company’s stock worth $3,906,000 after purchasing an additional 880 shares in the last quarter. 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.