BayCom Corp (NASDAQ:BCML) to Post FY2024 Earnings of $2.05 Per Share, DA Davidson Forecasts

BayCom Corp (NASDAQ:BCML) – Equities research analysts at DA Davidson dropped their FY2024 earnings per share (EPS) estimates for shares of BayCom in a research report issued on Tuesday, April 23rd. DA Davidson analyst G. Tenner now expects that the company will earn $2.05 per share for the year, down from their prior estimate of $2.35. The consensus estimate for BayCom’s current full-year earnings is $2.13 per share.

BayCom (NASDAQ:BCML) last issued its quarterly earnings data on Thursday, January 25th. The company reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.02). The company 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%.

Separately, Hovde Group initiated coverage on BayCom in a report on Monday. They issued an “outperform” rating and a $24.00 price target for the company.

BayCom Price Performance

Shares of NASDAQ BCML opened at $20.10 on Thursday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.05 and a current ratio of 1.05. The company has a market cap of $230.55 million, a PE ratio of 9.10 and a beta of 0.76. The business has a 50-day simple moving average of $20.00 and a two-hundred day simple moving average of $20.81. BayCom has a fifty-two week low of $15.02 and a fifty-two week high of $24.31.

Institutional Investors Weigh In On BayCom

Institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC purchased a new position in shares of BayCom in the third quarter worth about $105,000. New York State Common Retirement Fund raised its stake 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. O Shaughnessy Asset Management LLC purchased a new position in shares of BayCom in the third quarter worth about $281,000. BNP Paribas Financial Markets raised its stake 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. Finally, Assenagon Asset Management S.A. purchased a new position in shares of BayCom in the third quarter worth about $442,000. Institutional investors and hedge funds own 66.16% of the company’s stock.

BayCom Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Saturday, March 16th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.99%. The ex-dividend date was Thursday, March 14th. BayCom’s dividend payout ratio is presently 18.10%.

BayCom Company Profile

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.