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

Hovde Group cut shares of BayCom (NASDAQ:BCML) from an outperform rating to a market perform rating in a research report report published on Wednesday morning, MarketBeat.com reports. They currently have $31.00 target price on the stock.

BayCom Trading Down 4.5 %

NASDAQ:BCML opened at $27.79 on Wednesday. BayCom has a 12 month low of $18.54 and a 12 month high of $30.13. 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 firm’s 50 day moving average is $27.45 and its 200 day moving average is $25.39. The stock has a market capitalization of $309.02 million, a PE ratio of 13.23 and a beta of 0.81.

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

BayCom Increases Dividend

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

Institutional Trading of BayCom

A number of institutional investors have recently modified their holdings of the business. PNC Financial Services Group Inc. raised its holdings in BayCom by 46.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,347 shares of the company’s stock valued at $36,000 after acquiring an additional 428 shares during the period. SG Americas Securities LLC bought a new stake in shares of BayCom during the 4th quarter valued at $120,000. Assenagon Asset Management S.A. purchased a new stake in BayCom during the 4th quarter worth about $422,000. JPMorgan Chase & Co. boosted its stake in BayCom by 129.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 22,330 shares of the company’s stock worth $530,000 after purchasing an additional 12,617 shares during the period. Finally, Captrust Financial Advisors grew its holdings in BayCom by 4.4% during the 3rd quarter. Captrust Financial Advisors now owns 23,361 shares of the company’s stock valued at $554,000 after buying an additional 978 shares in 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.