Zacks: BayCom Corp (BCML) Given Consensus Recommendation of “Strong Buy” by Analysts

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

Brokers have set a 1 year consensus price target of $27.33 for the company and are forecasting that the company will post $0.48 EPS for the current quarter, according to Zacks. Zacks has also assigned BayCom an industry rank of 85 out of 255 based on the ratings given to its competitors.

BCML has been the topic of a number of analyst reports. ValuEngine upgraded BayCom from a “sell” rating to a “hold” rating in a report on Wednesday, January 2nd. Zacks Investment Research raised shares of BayCom from a “hold” rating to a “strong-buy” rating and set a $26.00 price objective for the company in a research report on Thursday, January 3rd. TheStreet raised shares of BayCom from a “c+” rating to a “b” rating in a research report on Monday, January 28th. Hovde Group assumed coverage on shares of BayCom in a research report on Monday, February 4th. They set an “outperform” rating and a $24.50 price objective for the company. Finally, B. Riley assumed coverage on shares of BayCom in a research report on Friday. They set a “buy” rating and a $28.00 price objective for the company.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc lifted its stake in BayCom by 14.9% during the third quarter. Vanguard Group Inc now owns 480,637 shares of the company’s stock valued at $12,824,000 after purchasing an additional 62,271 shares during the last quarter. Southside Capital LLC acquired a new position in BayCom in the 4th quarter valued at $2,110,000. Royce & Associates LP grew its stake in BayCom by 40.3% in the 4th quarter. Royce & Associates LP now owns 86,982 shares of the company’s stock valued at $2,008,000 after buying an additional 25,000 shares during the last quarter. Patriot Financial Partners GP LP grew its stake in BayCom by 62.2% in the 4th quarter. Patriot Financial Partners GP LP now owns 365,776 shares of the company’s stock valued at $8,446,000 after buying an additional 140,242 shares during the last quarter. Finally, Thomson Horstmann & Bryant Inc. grew its stake in BayCom by 12.9% in the 4th quarter. Thomson Horstmann & Bryant Inc. now owns 274,535 shares of the company’s stock valued at $6,339,000 after buying an additional 31,471 shares during the last quarter. Hedge funds and other institutional investors own 66.97% of the company’s stock.

BCML traded up $0.53 during trading on Friday, hitting $22.93. 46,930 shares of the stock were exchanged, compared to its average volume of 24,146. BayCom has a 1 year low of $17.19 and a 1 year high of $26.94. The company has a market capitalization of $235.34 million, a P/E ratio of 13.90, a PEG ratio of 1.02 and a beta of 0.36.

BayCom (NASDAQ:BCML) last announced its quarterly earnings results on Tuesday, January 29th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.03. The company had revenue of $15.52 million during the quarter, compared to analysts’ expectations of $15.90 million. Equities analysts anticipate that BayCom will post 2.23 EPS for the current year.

About BayCom

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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