BayCom (BCML) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of BayCom (OTCMKTS:BCML) from a strong-buy rating to a hold rating in a report published on Tuesday morning.

According to Zacks, “BayCom Corp provides commercial banking products and services to businesses and individuals. The company offers deposit products, loans, online banking, cash management and banking services. BayCom Corp, formerly known as Bay Commercial Bank, is based in Walnut Creek, California. “

Separately, TheStreet raised BayCom from a c rating to a b+ rating in a research report on Wednesday, June 27th.

Shares of BayCom stock opened at $24.75 on Tuesday. BayCom has a 12 month low of $18.30 and a 12 month high of $26.94.

BayCom (OTCMKTS:BCML) last issued its quarterly earnings data on Monday, July 23rd. The bank reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.04. The company had revenue of $14.68 million for the quarter, compared to the consensus estimate of $14.50 million. Equities analysts predict that BayCom will post 1.92 earnings per share for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the business. Bank of Montreal Can boosted its holdings in BayCom by 8,575.3% in the third quarter. Bank of Montreal Can now owns 6,333 shares of the bank’s stock worth $170,000 after acquiring an additional 6,260 shares in the last quarter. Rhumbline Advisers acquired a new stake in BayCom in the second quarter worth about $224,000. JBF Capital Inc. acquired a new stake in BayCom in the second quarter worth about $248,000. Harbor Advisors LLC acquired a new stake in BayCom in the second quarter worth about $450,000. Finally, Royce & Associates LP acquired a new stake in BayCom in the second quarter worth about $450,000. 3.16% of the stock is owned by institutional investors and hedge funds.

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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