BayCom Corp (NASDAQ: BCML – Get a rating) – DA Davidson cut its fiscal year 2022 earnings estimates for BayCom in a research note published Monday, October 24. DA Davidson analyst G. Tenner now expects the company to earn $2.11 per share for the year, down from his previous forecast of $2.22. The consensus estimate of BayCom’s current annual earnings is $2.15 per share. DA Davidson also released estimates for BayCom’s fourth quarter 2022 earnings at $0.63 EPS.
BayCom stock up 1.7%
BCML action opened at $18.20 on Tuesday. The stock has a market capitalization of $242.72 million, a P/E ratio of 9.38 and a beta of 0.69. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt ratio of 0.22. BayCom has a 12-month low of $17.52 and a 12-month high of $23.53. The company has a 50-day moving average price of $18.62 and a 200-day moving average price of $20.38.
Institutional entries and exits
Several institutional investors and hedge funds have recently changed their positions in BCML. Assenagon Asset Management SA increased its stake in BayCom shares to 85.9% in the first quarter. Assenagon Asset Management SA now owns 39,982 shares of the company valued at $870,000 after purchasing an additional 18,471 shares during the period. Royce & Associates LP increased its position in BayCom by 149.5% during the first quarter. Royce & Associates LP now owns 634,181 shares of the company valued at $13,806,000 after purchasing an additional 380,050 shares during the period. Aire Advisors LLC acquired a new stake in BayCom during Q1 valued at approximately $1,296,000. Western Wealth Management LLC acquired a new stake in BayCom during Q1 valued at approximately $318,000. Finally, BHZ Capital Management LP increased its position in BayCom by 37.0% during the 1st quarter. BHZ Capital Management LP now owns 155,790 shares of the company valued at $3,392,000 after purchasing an additional 42,094 shares during the period. Institutional investors and hedge funds hold 58.29% of the company’s shares.
Insider Trading at BayCom
In other news, Director Robert G. Laverne sold 8,650 shares in a trade dated Thursday, August 25. The shares were sold at an average price of $19.37, for a total value of $167,550.50. Following completion of the transaction, the director now owns 95,081 shares of the company, valued at $1,841,718.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, accessible via this hyperlink. Insiders of the company own 6.40% of the shares of the company.
BayCom announces dividend
The company also recently announced a quarterly dividend, which was paid on Friday, October 14. Shareholders of record on Friday, September 16 received a dividend of $0.05. The ex-dividend date was Thursday, September 15. This represents a dividend of $0.20 on an annualized basis and a dividend yield of 1.10%. BayCom’s dividend payout ratio (DPR) is currently 10.31%.
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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