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

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

BayCom Stock Performance

Shares of BCML stock opened at $29.09 on Wednesday. The firm’s 50 day moving average price is $27.47 and its 200-day moving average price is $25.37. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.04 and a current ratio of 1.04. BayCom has a one year low of $18.54 and a one year high of $30.13. The firm has a market cap of $323.48 million, a P/E ratio of 13.85 and a beta of 0.81.

BayCom (NASDAQ:BCML) last released its earnings results on Thursday, January 23rd. The company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. BayCom had a net margin of 17.10% and a return on equity of 7.45%. As a group, equities research analysts predict that BayCom will post 2.48 EPS for the current year.

Institutional Investors Weigh In On BayCom

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Royce & Associates LP grew its position in shares of BayCom by 11.5% in the 3rd quarter. Royce & Associates LP now owns 543,211 shares of the company’s stock valued at $12,885,000 after buying an additional 56,066 shares during the last quarter. Assenagon Asset Management S.A. purchased a new position in BayCom during the 4th quarter worth $422,000. Empowered Funds LLC grew its position in BayCom by 5.2% during the 3rd quarter. Empowered Funds LLC now owns 32,795 shares of the company’s stock worth $778,000 after purchasing an additional 1,608 shares during the last quarter. Barclays PLC grew its position in BayCom by 61.3% during the 3rd quarter. Barclays PLC now owns 27,486 shares of the company’s stock worth $651,000 after purchasing an additional 10,442 shares during the last quarter. Finally, State Street Corp grew its position in BayCom by 0.5% during the 3rd quarter. State Street Corp now owns 163,965 shares of the company’s stock worth $3,906,000 after purchasing an additional 880 shares during the last quarter. 66.16% of the stock is currently 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 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.