Mackay Shields LLC Decreases Stake in BayCom Corp (NASDAQ:BCML)

Mackay Shields LLC lowered its position in BayCom Corp (NASDAQ:BCML) by 7.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,102 shares of the company’s stock after selling 1,300 shares during the quarter. Mackay Shields LLC owned approximately 0.13% of BayCom worth $365,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the company. Rhumbline Advisers lifted its position in shares of BayCom by 7.2% during the 3rd quarter. Rhumbline Advisers now owns 15,348 shares of the company’s stock worth $349,000 after buying an additional 1,034 shares during the last quarter. River & Mercantile Asset Management LLP purchased a new stake in shares of BayCom during the 2nd quarter worth approximately $1,942,000. Covington Capital Management purchased a new stake in shares of BayCom during the 2nd quarter worth approximately $2,266,000. Vanguard Group Inc. lifted its position in shares of BayCom by 2.8% during the 2nd quarter. Vanguard Group Inc. now owns 458,450 shares of the company’s stock worth $10,041,000 after buying an additional 12,577 shares during the last quarter. Finally, BlackRock Inc. lifted its position in shares of BayCom by 3.0% during the 2nd quarter. BlackRock Inc. now owns 522,280 shares of the company’s stock worth $11,438,000 after buying an additional 15,413 shares during the last quarter. Institutional investors and hedge funds own 56.88% of the company’s stock.

A number of equities analysts have recently commented on BCML shares. B. Riley set a $28.00 target price on shares of BayCom and gave the company a “buy” rating in a report on Friday, September 6th. ValuEngine raised shares of BayCom from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Zacks Investment Research raised shares of BayCom from a “sell” rating to a “hold” rating in a report on Wednesday, September 18th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $26.17.

Shares of BayCom stock opened at $22.33 on Tuesday. The firm’s fifty day simple moving average is $21.95 and its 200-day simple moving average is $22.41. The stock has a market capitalization of $289.28 million, a price-to-earnings ratio of 13.53 and a beta of 0.36. BayCom Corp has a 12 month low of $17.19 and a 12 month high of $25.00.

BayCom (NASDAQ:BCML) last announced its earnings results on Monday, October 28th. The company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.10). The firm had revenue of $19.87 million for the quarter, compared to analyst estimates of $21.19 million. On average, equities analysts expect that BayCom Corp will post 1.85 EPS for the current year.

BayCom Company Profile

BayCom Corp operates as the bank holding company for United Business Bank that provides various financial services to businesses, business owners, and individuals. The company offers demand, savings, money market, and time deposit accounts. It also provides commercial and multi-family 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.

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Institutional Ownership by Quarter for BayCom (NASDAQ:BCML)

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