Hovde Group Begins Coverage on BayCom (NASDAQ:BCML)

Equities researchers at Hovde Group assumed coverage on shares of BayCom (NASDAQ:BCML) in a research report issued to clients and investors on Monday. The firm set an “outperform” rating and a $24.00 price target on the stock. Hovde Group’s price target would indicate a potential upside of 22.76% from the company’s current price.

BayCom Stock Down 2.3 %

BCML stock traded down $0.47 during midday trading on Monday, hitting $19.55. The company’s stock had a trading volume of 2,141 shares, compared to its average volume of 22,507. The company has a market cap of $224.24 million, a PE ratio of 8.82 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 current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.23. The firm’s 50-day moving average is $20.01 and its 200-day moving average is $20.81.

BayCom (NASDAQ:BCML) last released its quarterly earnings results on Thursday, January 25th. The company reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.02). The firm had revenue of $26.20 million for the quarter, compared to the consensus estimate of $25.90 million. BayCom had a net margin of 19.27% and a return on equity of 8.45%. On average, equities research analysts forecast that BayCom will post 2.13 earnings per share for the current fiscal year.

Institutional Investors Weigh In On BayCom

A number of institutional investors have recently bought and sold shares of BCML. SG Americas Securities LLC increased its holdings in shares of BayCom by 13.4% in the fourth quarter. SG Americas Securities LLC now owns 6,204 shares of the company’s stock worth $146,000 after purchasing an additional 732 shares during the last quarter. New York State Common Retirement Fund increased its holdings in shares of BayCom by 55.8% in the fourth quarter. New York State Common Retirement Fund now owns 4,505 shares of the company’s stock worth $106,000 after purchasing an additional 1,613 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in shares of BayCom by 46.8% in the fourth quarter. BNP Paribas Financial Markets now owns 16,012 shares of the company’s stock worth $378,000 after purchasing an additional 5,106 shares during the last quarter. O Shaughnessy Asset Management LLC bought a new stake in shares of BayCom in the third quarter worth about $281,000. Finally, Assenagon Asset Management S.A. increased its holdings in shares of BayCom by 72.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 39,700 shares of the company’s stock worth $937,000 after purchasing an additional 16,682 shares during the last quarter. Hedge funds and other 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.