BayCom (NASDAQ:BCML) Coverage Initiated at Hovde Group

Investment analysts at Hovde Group started coverage on shares of BayCom (NASDAQ:BCML) in a research report issued to clients and investors on Monday, StockNewsAPI reports. The brokerage set an “outperform” rating and a $24.00 price target on the stock. Hovde Group’s price objective suggests a potential upside of 19.70% from the company’s current price.

BayCom Trading Up 3.3 %

BCML stock opened at $20.05 on Monday. The company has a market capitalization of $229.97 million, a PE ratio of 9.07 and a beta of 0.76. BayCom has a one year low of $15.02 and a one year high of $24.31. The company’s 50 day moving average price is $20.00 and its two-hundred day moving average price is $20.81. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.05 and a current ratio of 1.05.

BayCom (NASDAQ:BCML) last posted 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 return on equity of 8.45% and a net margin of 19.27%. The business had revenue of $26.20 million for the quarter, compared to analysts’ expectations of $25.90 million. As a group, analysts predict that BayCom will post 2.13 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in BCML. SG Americas Securities LLC bought a new stake in shares of BayCom during the 3rd quarter valued at $105,000. Assenagon Asset Management S.A. bought a new stake in shares of BayCom during the 3rd quarter valued at $442,000. O Shaughnessy Asset Management LLC bought a new stake in shares of BayCom during the 3rd quarter valued at $281,000. New York State Common Retirement Fund boosted its holdings in shares of BayCom by 55.8% during the 4th 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 in the last quarter. Finally, Los Angeles Capital Management LLC bought a new stake in shares of BayCom during the 4th quarter valued at $615,000. 66.16% of the stock is owned by hedge funds and other institutional investors.

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.