BayCom (NASDAQ:BCML) Coverage Initiated at Hovde Group

Hovde Group began coverage on shares of BayCom (NASDAQ:BCML - Free Report) in a report released on Monday morning, StockNewsAPI reports. The brokerage issued an outperform rating and a $24.00 price objective on the stock.

BayCom Trading Down 3.0 %

NASDAQ:BCML traded down $0.61 on Monday, reaching $19.41. The stock had a trading volume of 38,644 shares, compared to its average volume of 22,986. The company has a market cap of $222.63 million, a price-to-earnings ratio of 8.78 and a beta of 0.76. BayCom has a 12-month low of $15.02 and a 12-month high of $24.31. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.05 and a quick ratio of 1.05. The firm's fifty day moving average is $19.99 and its two-hundred day moving average is $20.81.

BayCom (NASDAQ:BCML - Get Free Report) last announced its quarterly earnings data on Thursday, January 25th. The company reported $0.55 EPS for the quarter, missing analysts' consensus estimates 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 analysts' expectations of $25.90 million. Equities analysts expect that BayCom will post 2.13 EPS for the current fiscal year.

BayCom Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Saturday, March 16th were given a $0.10 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.40 annualized dividend and a dividend yield of 2.06%. BayCom's dividend payout ratio is presently 18.10%.

Institutional Trading of BayCom

Institutional investors and hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC acquired a new stake in BayCom during the third quarter worth about $105,000. Assenagon Asset Management S.A. purchased a new stake in shares of BayCom during the 3rd quarter worth about $442,000. O Shaughnessy Asset Management LLC acquired a new stake in BayCom during the 3rd quarter worth approximately $281,000. New York State Common Retirement Fund raised its holdings in BayCom by 55.8% in the fourth quarter. New York State Common Retirement Fund now owns 4,505 shares of the company's stock valued at $106,000 after buying an additional 1,613 shares during the period. Finally, Los Angeles Capital Management LLC acquired a new position in BayCom during the fourth quarter valued at approximately $615,000. 66.16% of the stock is currently owned by institutional investors and hedge funds.

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.