DA Davidson Equities analysts raise earnings estimates for BayCom Corp (NASDAQ:BCML)

BayCom Corp (NASDAQ: BCML – Get a rating) – Equity research analysts DA Davidson raised their fiscal 2022 EPS estimates for BayCom in a report released Thursday, June 30. DA Davidson analyst G. Tenner now expects the company to post earnings of $2.47 per share for the year, up from its previous forecast of $2.25. The consensus estimate for BayCom’s current annual earnings is $2.23 per share. DA Davidson also released estimates for BayCom’s fiscal 2023 earnings at $2.67 EPS. BayCom (NASDAQ:BCML – Get a rating) last released its quarterly earnings data on Thursday, April 21. The company reported earnings per share of $0.51 for the quarter, beating consensus analyst estimates of $0.36 by $0.15. BayCom had a net margin of 22.74% and a return on equity of 8.26%. The company posted revenue of $26.75 million for the quarter, compared to $24.30 million expected by analysts.

Separately, Hovde Group raised its target price on BayCom shares to $28.00 in a Thursday, May 26 research note.

BCML shares opened at $20.68 on Friday. The company has a market capitalization of $283.01 million, a P/E ratio of 10.24 and a beta of 0.73. BayCom has a 12-month low of $16.47 and a 12-month high of $23.53. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt ratio of 0.22. The company has a fifty-day moving average price of $22.11 and a 200-day moving average price of $21.42.

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Institutional investors and hedge funds have recently changed their holdings in the company. Bank of America Corp DE increased its stake in BayCom by 715.5% in the first quarter. Bank of America Corp DE now owns 1,794 shares of the company worth $39,000 after acquiring 1,574 additional shares during the period. The Manufacturers Life Insurance Company increased its stake in BayCom by 0.6% in the first quarter. The Manufacturers Life Insurance Company now owns 715,403 shares of the company worth $15,574,000 after acquiring an additional 4,503 shares during the period. Jane Street Group LLC bought a new stake in BayCom in the first quarter worth approximately $570,000. First Manhattan Co. increased its stake in BayCom by 55.9% in the first quarter. First Manhattan Co. now owns 132,997 shares of the company worth $2,895,000 after acquiring an additional 47,708 shares during the period. Finally, Goldman Sachs Group Inc. bought a new stake in BayCom in the first quarter worth about $516,000. 47.13% of the shares are held by hedge funds and other institutional investors.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 15. Shareholders of record on Friday, June 17 will receive a dividend of $0.05 per share. This represents a dividend of $0.20 on an annualized basis and a dividend yield of 0.97%. The ex-dividend date is Thursday, June 16. BayCom’s dividend payout ratio is currently 9.90%.

About BayCom (Get a rating)

BayCom Corp operates as a bank holding company for United Business Bank which provides various financial services to small and medium businesses, service professionals and individuals. The company offers current, savings, money market and term accounts. It also offers commercial and multi-family real estate loans, including home loans for homeowners and investors; 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 including installment loans, secured and unsecured personal lines of credit and overdraft protection.

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