BayCom Corp to Post FY2024 Earnings of $2.05 Per Share, DA Davidson Forecasts (NASDAQ:BCML)

BayCom Corp (NASDAQ:BCML) – Analysts at DA Davidson reduced their FY2024 EPS estimates for BayCom in a research report issued to clients and investors on Tuesday, April 23rd. DA Davidson analyst G. Tenner now anticipates that the company will post earnings of $2.05 per share for the year, down from their previous forecast of $2.35. The consensus estimate for BayCom’s current full-year earnings is $2.13 per share.

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 net margin of 19.27% and a return on equity of 8.45%. The business had revenue of $26.20 million during the quarter, compared to analyst estimates of $25.90 million.

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

BayCom Trading Up 0.0 %

BCML stock opened at $20.11 on Thursday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.05 and a current ratio of 1.05. The company’s 50-day simple moving average is $20.01 and its 200 day simple moving average is $20.80. BayCom has a 52 week low of $15.02 and a 52 week high of $24.31. The company has a market capitalization of $230.64 million, a PE ratio of 9.10 and a beta of 0.76.

Institutional Investors Weigh In On BayCom

Several institutional investors and hedge funds have recently bought and sold shares of the company. BNP Paribas Financial Markets lifted 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 during the period. LSV Asset Management bought a new stake in BayCom during the fourth quarter worth about $717,000. Los Angeles Capital Management LLC bought a new stake in BayCom during the fourth quarter worth about $615,000. New York State Common Retirement Fund lifted its position in BayCom by 55.8% during the fourth quarter. New York State Common Retirement Fund now owns 4,505 shares of the company’s stock worth $106,000 after purchasing an additional 1,613 shares during the period. Finally, Assenagon Asset Management S.A. lifted its position in BayCom by 72.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 39,700 shares of the company’s stock worth $937,000 after purchasing an additional 16,682 shares during the period. Institutional investors own 66.16% of the company’s stock.

BayCom Dividend Announcement

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

About BayCom

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.