DA Davidson comments on BayCom Corp’s second quarter 2022 results (NASDAQ:BCML)

BayCom Corp (NASDAQ: BCML – Get a rating) – Stock analysts DA Davidson released their second quarter 2022 earnings per share estimates for BayCom shares in a report released Monday, April 25. DA Davidson analyst G. Tenner expects the company to post earnings of $0.50 per share for the quarter. DA Davidson also released estimates for BayCom’s fiscal year 2022 earnings at $2.25 EPS and fiscal year 2023 earnings at $2.39 EPS.

Separately, Zacks Investment Research moved BayCom shares from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a Tuesday, April 5 research note.

BCML shares opened at $23.02 on Tuesday. The company has a debt ratio of 0.27, a current ratio of 1.03 and a quick ratio of 1.03. The company has a 50-day simple moving average of $22.17 and a 200-day simple moving average of $20.45. BayCom has a 1-year low of $16.47 and a 1-year high of $23.52. The stock has a market capitalization of $315.03 million, a price-earnings ratio of 11.40 and a beta of 0.81. 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 the Zacks consensus estimate of $0.36 by $0.15. BayCom had a net margin of 22.74% and a return on equity of 8.80%. The company posted revenue of $26.75 million in the quarter, compared to $24.30 million expected by analysts.

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A number of hedge funds have recently increased or reduced their stakes in the company. Assenagon Asset Management SA increased its stake in BayCom by 85.9% in the 1st quarter. Assenagon Asset Management SA now owns 39,982 shares of the company worth $870,000 after acquiring an additional 18,471 shares during the period. BlackRock Inc. increased its stake in BayCom by 1.7% in the fourth quarter. BlackRock Inc. now owns 103,579 shares of the company worth $1,942,000 after acquiring an additional 1,752 shares during the period. The Manufacturers Life Insurance Company increased its stake in BayCom by 1.1% in the fourth quarter. The Manufacturers Life Insurance Company now owns 710,900 shares of the company worth $13,336,000 after acquiring an additional 7,647 shares during the period. Susquehanna International Group LLP increased its stake in BayCom by 107.0% in the fourth quarter. Susquehanna International Group LLP now owns 27,984 shares of the company worth $525,000 after acquiring an additional 14,462 shares during the period. Finally, Greenwich Investment Management Inc. acquired a new stake in BayCom in Q4 worth approximately $1,369,000. 53.08% of the shares are held by hedge funds and other institutional investors.

The company also recently announced a quarterly dividend, which was paid on Friday, April 15. Shareholders of record on Friday, March 11 received a dividend of $0.05. The ex-dividend date was Thursday, March 10. This represents an annualized dividend of $0.20 and a yield of 0.87%. BayCom’s current payout ratio is 9.90%.

BayCom Company Profile (Get a rating)

BayCom Corp operates as a bank holding company for United Business Bank which provides various financial services to corporations, business owners 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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