BayCom (NASDAQ:BCML) Downgraded to “Market Perform” Rating by Hovde Group

BayCom (NASDAQ:BCML) was downgraded by stock analysts at Hovde Group from an “outperform” rating to a “market perform” rating in a research note issued on Wednesday, MarketBeat.com reports. They currently have a $31.00 price objective on the stock. Hovde Group’s price objective indicates a potential upside of 6.57% from the company’s current price.

BayCom Trading Up 0.3 %

Shares of BayCom stock opened at $29.09 on Wednesday. The firm has a market cap of $323.48 million, a price-to-earnings ratio of 13.85 and a beta of 0.81. The business has a 50-day moving average price of $27.47 and a 200-day moving average price of $25.37. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.22. BayCom has a twelve month low of $18.54 and a twelve month high of $30.13.

BayCom (NASDAQ:BCML) last released its quarterly earnings results on Thursday, January 23rd. The company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.51 by $0.04. BayCom had a return on equity of 7.45% and a net margin of 17.10%. Equities research analysts anticipate that BayCom will post 2.48 EPS for the current fiscal year.

Institutional Trading of BayCom

Institutional investors and hedge funds have recently modified their holdings of the stock. PNC Financial Services Group Inc. increased its holdings in BayCom by 46.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,347 shares of the company’s stock valued at $36,000 after buying an additional 428 shares during the period. SG Americas Securities LLC purchased a new stake in shares of BayCom during the fourth quarter valued at $120,000. Assenagon Asset Management S.A. purchased a new stake in shares of BayCom during the fourth quarter valued at $422,000. JPMorgan Chase & Co. lifted its position in BayCom by 129.9% during the third quarter. JPMorgan Chase & Co. now owns 22,330 shares of the company’s stock valued at $530,000 after purchasing an additional 12,617 shares during the period. Finally, Captrust Financial Advisors lifted its position in BayCom by 4.4% during the third quarter. Captrust Financial Advisors now owns 23,361 shares of the company’s stock valued at $554,000 after purchasing an additional 978 shares during the period. 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.