BayCom (NASDAQ:BCML) PT Raised to $28.00 at Hovde Group

BayCom (NASDAQ:BCML) had its price target boosted by Hovde Group from $26.00 to $28.00 in a research report report published on Friday, MarketBeat Ratings reports. They currently have an outperform rating on the stock.

BayCom Trading Up 0.0 %

NASDAQ BCML opened at $24.51 on Friday. 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 firm has a market cap of $275.69 million, a price-to-earnings ratio of 11.09 and a beta of 0.77. The firm has a 50 day simple moving average of $23.03 and a 200-day simple moving average of $21.44. BayCom has a one year low of $18.54 and a one year high of $25.04.

BayCom (NASDAQ:BCML) last issued its quarterly earnings results on Thursday, July 18th. The company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.48 by $0.02. The company had revenue of $33.89 million during 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%. Equities research analysts anticipate that BayCom will post 1.95 EPS for the current fiscal year.

BayCom Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Thursday, September 19th were issued a $0.10 dividend. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $0.40 dividend on an annualized basis and a yield of 1.63%. BayCom’s dividend payout ratio (DPR) is presently 18.10%.

Institutional Investors Weigh In On BayCom

Several large investors have recently bought and sold shares of BCML. Renaissance Technologies LLC boosted its stake in shares of BayCom by 3.2% in the 2nd quarter. Renaissance Technologies LLC now owns 80,500 shares of the company’s stock valued at $1,638,000 after buying an additional 2,500 shares during the period. Dimensional Fund Advisors LP raised its holdings in BayCom by 2.7% in the second quarter. Dimensional Fund Advisors LP now owns 594,015 shares of the company’s stock valued at $12,088,000 after acquiring an additional 15,798 shares in the last quarter. Acadian Asset Management LLC lifted its stake in BayCom by 5.8% in the second quarter. Acadian Asset Management LLC now owns 209,844 shares of the company’s stock worth $4,268,000 after acquiring an additional 11,484 shares during the last quarter. Panagora Asset Management Inc. acquired a new position in BayCom during the 2nd quarter worth approximately $211,000. Finally, Bank of New York Mellon Corp increased its position in shares of BayCom by 3.1% in 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. Hedge funds and other institutional investors own 66.16% of the company’s stock.

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.