BayCom (NASDAQ:BCML) Rating Lowered to Strong Sell at Zacks Investment Research

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Zacks Investment Research lowered shares of BayCom (NASDAQ:BCML) from a hold rating to a strong sell rating in a research report sent to investors on Friday morning, Zacks.com reports.

According to Zacks, “BayCom Corp provides commercial banking products and services to businesses and individuals. The company offers deposit products, loans, online banking, cash management and banking services. BayCom Corp, formerly known as Bay Commercial Bank, is based in Walnut Creek, California. “

Several other research analysts have also recently issued reports on the stock. ValuEngine cut shares of Zumiez from a hold rating to a sell rating in a report on Tuesday, July 2nd. B. Riley reaffirmed a buy rating on shares of RumbleON in a report on Friday, March 15th. Two research analysts have rated the stock with a sell rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $25.50.

Shares of BayCom stock opened at $23.28 on Friday. The stock has a market capitalization of $255.73 million, a PE ratio of 14.11, a PEG ratio of 1.08 and a beta of 0.36. BayCom has a 52-week low of $17.19 and a 52-week high of $26.94. The business has a 50-day moving average price of $22.50.

BayCom (NASDAQ:BCML) last issued its earnings results on Monday, April 29th. The company reported $0.45 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.45. The firm had revenue of $16.99 million during the quarter, compared to analysts’ expectations of $16.56 million. As a group, analysts predict that BayCom will post 2.18 earnings per share for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA raised its holdings in shares of BayCom by 513.3% during the first quarter. BNP Paribas Arbitrage SA now owns 2,165 shares of the company’s stock valued at $49,000 after purchasing an additional 1,812 shares during the last quarter. Metropolitan Life Insurance Co. NY increased its holdings in BayCom by 356.5% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 3,771 shares of the company’s stock valued at $87,000 after buying an additional 2,945 shares during the last quarter. Spark Investment Management LLC purchased a new stake in BayCom during the first quarter valued at approximately $201,000. First Trust Advisors LP purchased a new stake in BayCom during the fourth quarter valued at approximately $264,000. Finally, Rhumbline Advisers increased its holdings in BayCom by 47.0% during the fourth quarter. Rhumbline Advisers now owns 14,209 shares of the company’s stock valued at $328,000 after buying an additional 4,542 shares during the last quarter. 64.31% of the stock is 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 businesses, business owners, and individuals. The company offers demand, savings, money market, and time deposit accounts. It also provides commercial and multi-family 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.

See Also: What is a Market Correction?

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