Zacks: BayCom Corp (BCML) Given Consensus Rating of “Strong Buy” by Brokerages

BayCom Corp (NASDAQ:BCML) has been assigned a consensus broker rating score of 1.00 (Strong Buy) from the three analysts that provide coverage for the stock, Zacks Investment Research reports. Three analysts have rated the stock with a strong buy recommendation.

Analysts have set a 1-year consensus price target of $27.33 for the company and are predicting that the company will post $0.48 EPS for the current quarter, according to Zacks. Zacks has also given BayCom an industry rank of 156 out of 255 based on the ratings given to related companies.

A number of equities analysts have recently issued reports on the company. Zacks Investment Research cut BayCom from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 16th. ValuEngine upgraded BayCom from a “sell” rating to a “hold” rating in a report on Wednesday, January 2nd. TheStreet upgraded BayCom from a “c+” rating to a “b” rating in a report on Monday, January 28th. Finally, Hovde Group assumed coverage on BayCom in a report on Monday, February 4th. They issued an “outperform” rating and a $24.50 price target on the stock.

Shares of BCML stock traded up $0.13 during trading hours on Monday, reaching $21.65. 33,382 shares of the company’s stock were exchanged, compared to its average volume of 19,343. The company has a market cap of $223.01 million, a price-to-earnings ratio of 13.12, a price-to-earnings-growth ratio of 0.97 and a beta of 0.32. BayCom has a 1 year low of $17.19 and a 1 year high of $26.94.

BayCom (NASDAQ:BCML) last issued its earnings results on Tuesday, January 29th. The company reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.03. The business had revenue of $15.52 million for the quarter, compared to analysts’ expectations of $15.90 million. Analysts expect that BayCom will post 2.23 earnings per share for the current year.

In other news, insider George J. Guarini purchased 1,400 shares of the stock in a transaction that occurred on Tuesday, December 11th. The shares were acquired at an average price of $23.00 per share, for a total transaction of $32,200.00. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 5.40% of the company’s stock.

A number of large investors have recently made changes to their positions in the business. BlackRock Inc. grew its holdings in BayCom by 2.2% during the 4th quarter. BlackRock Inc. now owns 528,282 shares of the company’s stock valued at $12,198,000 after buying an additional 11,385 shares during the last quarter. Vanguard Group Inc grew its holdings in BayCom by 14.9% during the 3rd quarter. Vanguard Group Inc now owns 480,637 shares of the company’s stock valued at $12,824,000 after buying an additional 62,271 shares during the last quarter. Southside Capital LLC acquired a new stake in BayCom during the 4th quarter valued at $2,110,000. Acadian Asset Management LLC grew its holdings in BayCom by 6.8% during the 4th quarter. Acadian Asset Management LLC now owns 65,441 shares of the company’s stock valued at $1,511,000 after buying an additional 4,156 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in BayCom by 26.4% during the 4th quarter. Bank of New York Mellon Corp now owns 45,159 shares of the company’s stock valued at $1,043,000 after buying an additional 9,433 shares during the last quarter. Hedge funds and other institutional investors own 62.97% of the company’s stock.

BayCom Company Profile

BayCom Corp., through its subsidiary, United Business Bank, provides commercial banking products and services to businesses and individuals. The company offers personal and business savings and checking accounts, money market accounts, and certificates of deposit, as well as individual retirement and health savings accounts; business loans, including term loans, equipment financing, commercial real estate loans, construction loans, small business loans, and business and industry loans; and business credit products, such as business lines of credit, asset-based lines of credit, letters of credit, and business credit cards.

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