BayCom (NASDAQ:BCML) Cut to “Market Perform” at Hovde Group

Hovde Group cut shares of BayCom (NASDAQ:BCML) from an outperform rating to a market perform rating in a research note released on Wednesday morning, MarketBeat reports. The brokerage currently has $31.00 target price on the stock.

BayCom Price Performance

NASDAQ:BCML opened at $27.79 on Wednesday. The firm has a market capitalization of $309.02 million, a price-to-earnings ratio of 13.23 and a beta of 0.81. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a fifty day moving average of $27.45 and a 200 day moving average of $25.39. BayCom has a 52-week low of $18.54 and a 52-week high of $30.13.

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

BayCom Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Thursday, December 12th were given a dividend of $0.15 per share. The ex-dividend date was Thursday, December 12th. This represents a $0.60 annualized dividend and a dividend yield of 2.16%. This is a boost from BayCom’s previous quarterly dividend of $0.10. BayCom’s dividend payout ratio (DPR) is 28.57%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BCML. Caldwell Sutter Capital Inc. lifted its stake in BayCom by 3.4% during the third quarter. Caldwell Sutter Capital Inc. now owns 84,047 shares of the company’s stock worth $1,994,000 after purchasing an additional 2,800 shares during the last quarter. Royce & Associates LP raised its holdings in shares of BayCom by 11.5% during 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 in the last quarter. Empowered Funds LLC lifted its position in BayCom by 5.2% in the 3rd quarter. Empowered Funds LLC now owns 32,795 shares of the company’s stock worth $778,000 after buying an additional 1,608 shares during the last quarter. Martingale Asset Management L P boosted its stake in BayCom by 20.1% in the third quarter. Martingale Asset Management L P now owns 23,341 shares of the company’s stock worth $554,000 after buying an additional 3,900 shares in the last quarter. Finally, Captrust Financial Advisors grew 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 acquiring an additional 978 shares during the last quarter. 66.16% of the stock is currently owned by hedge funds and other institutional investors.

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.