BayCom Corp (NASDAQ:BCML) to Post Q2 2024 Earnings of $0.49 Per Share, DA Davidson Forecasts

BayCom Corp (NASDAQ:BCML) – Equities research analysts at DA Davidson issued their Q2 2024 EPS estimates for BayCom in a report issued on Tuesday, April 23rd. DA Davidson analyst G. Tenner forecasts that the company will post earnings of $0.49 per share for the quarter. The consensus estimate for BayCom’s current full-year earnings is $2.13 per share. DA Davidson also issued estimates for BayCom’s FY2025 earnings at $2.04 EPS.

Separately, Hovde Group initiated coverage on shares of BayCom in a research note on Monday. They set an “outperform” rating and a $24.00 price objective for the company.

BayCom Stock Performance

BayCom stock opened at $20.05 on Wednesday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $229.97 million, a PE ratio of 9.07 and a beta of 0.76. The firm has a fifty day simple moving average of $20.00 and a two-hundred day simple moving average of $20.81. BayCom has a twelve month low of $15.02 and a twelve month high of $24.31.

BayCom (NASDAQ:BCML) last posted its quarterly earnings results on Thursday, January 25th. The company reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.02). The business had revenue of $26.20 million during the quarter, compared to the consensus estimate of $25.90 million. BayCom had a return on equity of 8.45% and a net margin of 19.27%.

Hedge Funds Weigh In On BayCom

Several hedge funds and other institutional investors have recently modified their holdings of the company. SG Americas Securities LLC raised its stake in shares of BayCom by 13.4% during the fourth quarter. SG Americas Securities LLC now owns 6,204 shares of the company’s stock valued at $146,000 after acquiring an additional 732 shares during the last quarter. New York State Common Retirement Fund raised its stake in BayCom by 55.8% in the fourth quarter. New York State Common Retirement Fund now owns 4,505 shares of the company’s stock worth $106,000 after buying an additional 1,613 shares in the last quarter. BNP Paribas Financial Markets raised its stake in BayCom by 46.8% in the fourth quarter. BNP Paribas Financial Markets now owns 16,012 shares of the company’s stock worth $378,000 after buying an additional 5,106 shares in the last quarter. O Shaughnessy Asset Management LLC bought a new position in BayCom in the third quarter worth about $281,000. Finally, Assenagon Asset Management S.A. raised its stake in BayCom by 72.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 39,700 shares of the company’s stock worth $937,000 after buying an additional 16,682 shares in the last quarter. 66.16% of the stock is owned by institutional investors.

BayCom Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Saturday, March 16th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 2.00%. The ex-dividend date was Thursday, March 14th. BayCom’s dividend payout ratio (DPR) is 18.10%.

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.