BayCom (NASDAQ:BCML) Lowered to "Market Perform" Rating by Hovde Group

BayCom (NASDAQ:BCML - Get Free Report) was downgraded by Hovde Group from an "outperform" rating to a "market perform" rating in a report issued on Wednesday, Marketbeat reports. They currently have a $31.00 target price on the stock. Hovde Group's price objective indicates a potential upside of 10.64% from the stock's current price.

BayCom Stock Performance

Shares of NASDAQ:BCML traded down $0.18 on Wednesday, reaching $28.02. 11,107 shares of the company's stock were exchanged, compared to its average volume of 29,574. The company has a fifty day moving average of $27.42 and a 200-day moving average of $25.44. BayCom has a twelve month low of $18.54 and a twelve month high of $30.13. The company has a market capitalization of $311.61 million, a price-to-earnings ratio of 13.34 and a beta of 0.81. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.22.

BayCom (NASDAQ:BCML - Get Free Report) last posted its quarterly earnings results on Thursday, January 23rd. The company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.04. BayCom had a net margin of 17.10% and a return on equity of 7.45%. On average, research analysts predict that BayCom will post 2.48 EPS for the current fiscal year.

Institutional Trading of BayCom

Several large investors have recently made changes to their positions in the company. Wellington Management Group LLP boosted its position in shares of BayCom by 41.6% during the 4th quarter. Wellington Management Group LLP now owns 930,498 shares of the company's stock worth $24,975,000 after acquiring an additional 273,135 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in BayCom by 2.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 615,795 shares of the company's stock valued at $16,528,000 after buying an additional 13,269 shares in the last quarter. Royce & Associates LP boosted its position in BayCom by 11.1% in the fourth quarter. Royce & Associates LP now owns 603,286 shares of the company's stock valued at $16,192,000 after buying an additional 60,075 shares in the last quarter. Alliancebernstein L.P. boosted its position in BayCom by 0.3% in the fourth quarter. Alliancebernstein L.P. now owns 434,799 shares of the company's stock valued at $11,670,000 after buying an additional 1,500 shares in the last quarter. Finally, State Street Corp boosted its position in BayCom by 0.5% in the third quarter. State Street Corp now owns 163,965 shares of the company's stock valued at $3,906,000 after buying an additional 880 shares in the last quarter. Institutional investors and hedge funds own 66.16% of the company's stock.

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.