BayCom (BCML) Upgraded to “Hold” by ValuEngine

BayCom (NASDAQ:BCML) was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating in a report released on Saturday, March 30th, ValuEngine reports.

A number of other research firms also recently issued reports on BCML. Zacks Investment Research upgraded shares of BayCom from a “hold” rating to a “strong-buy” rating and set a $26.00 price objective on the stock in a research note on Thursday, January 3rd. B. Riley assumed coverage on shares of BayCom in a research note on Friday, March 15th. They issued a “buy” rating and a $28.00 target price for the company. TheStreet upgraded shares of BayCom from a “c+” rating to a “b” rating in a research note on Monday, January 28th. Finally, Hovde Group assumed coverage on shares of BayCom in a research note on Monday, February 4th. They issued an “outperform” rating and a $24.50 target price for the company. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. BayCom has an average rating of “Buy” and a consensus target price of $26.38.

BCML stock traded up $0.38 during mid-day trading on Friday, reaching $22.38. The company had a trading volume of 9,900 shares, compared to its average volume of 21,246. BayCom has a 12 month low of $17.19 and a 12 month high of $26.94. The company has a market capitalization of $247.67 million, a P/E ratio of 13.56, a P/E/G ratio of 1.05 and a beta of 0.35.

BayCom (NASDAQ:BCML) last released its quarterly earnings data on Tuesday, January 29th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.03. The business had revenue of $15.52 million for the quarter, compared to the consensus estimate of $15.90 million. As a group, analysts expect that BayCom will post 2.17 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of BCML. Patriot Financial Partners GP LP raised its holdings in shares of BayCom by 62.2% in the fourth quarter. Patriot Financial Partners GP LP now owns 365,776 shares of the company’s stock worth $8,446,000 after buying an additional 140,242 shares during the last quarter. Southside Capital LLC acquired a new stake in BayCom during the fourth quarter valued at $2,110,000. Vanguard Group Inc grew its position in BayCom by 14.9% during the third quarter. Vanguard Group Inc now owns 480,637 shares of the company’s stock valued at $12,824,000 after buying an additional 62,271 shares during the period. Dimensional Fund Advisors LP grew its position in BayCom by 101.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 95,249 shares of the company’s stock valued at $2,199,000 after buying an additional 48,015 shares during the period. Finally, Thomson Horstmann & Bryant Inc. grew its position in BayCom by 12.9% during the fourth quarter. Thomson Horstmann & Bryant Inc. now owns 274,535 shares of the company’s stock valued at $6,339,000 after buying an additional 31,471 shares during the period. 63.71% of the stock is owned by institutional investors and hedge funds.

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.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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