BayCom (NASDAQ:BCML) Raised to Hold at Wall Street Zen

BayCom (NASDAQ:BCML) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Thursday.

Separately, Hovde Group cut BayCom from an “outperform” rating to a “market perform” rating and set a $31.00 price target on the stock. in a report on Wednesday, February 12th.

BayCom Stock Performance

NASDAQ:BCML opened at $26.23 on Thursday. The stock has a market cap of $288.71 million, a P/E ratio of 12.49 and a beta of 0.54. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.22. The stock’s 50-day moving average is $25.92 and its 200-day moving average is $26.87. BayCom has a 1-year low of $18.54 and a 1-year high of $30.13.

BayCom (NASDAQ:BCML) last released its quarterly earnings results on Thursday, April 17th. The company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.01). The firm had revenue of $32.65 million for the quarter, compared to the consensus estimate of $24.07 million. 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 earnings per share for the current year.

Insider Buying and Selling at BayCom

In other BayCom news, CEO George J. Guarini sold 27,000 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $27.50, for a total transaction of $742,500.00. Following the completion of the sale, the chief executive officer now owns 46,759 shares of the company’s stock, valued at approximately $1,285,872.50. This represents a 36.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 6.50% of the company’s stock.

Hedge Funds Weigh In On BayCom

Institutional investors have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. lifted its stake in BayCom by 46.6% in 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. Russell Investments Group Ltd. lifted its stake in BayCom by 3,097.3% in the fourth quarter. Russell Investments Group Ltd. now owns 3,613 shares of the company’s stock valued at $97,000 after buying an additional 3,500 shares during the period. SG Americas Securities LLC acquired a new position in BayCom in the fourth quarter valued at approximately $120,000. GAMMA Investing LLC lifted its stake in BayCom by 7,206.9% in the first quarter. GAMMA Investing LLC now owns 5,261 shares of the company’s stock valued at $132,000 after buying an additional 5,189 shares during the period. Finally, Wells Fargo & Company MN lifted its stake in BayCom by 27.8% in the fourth quarter. Wells Fargo & Company MN now owns 6,141 shares of the company’s stock valued at $165,000 after buying an additional 1,337 shares during the period. 66.16% of the stock is owned by institutional investors and hedge funds.

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.