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

BayCom Corp (NASDAQ: BCML – Get a rating) – DA Davidson released its second quarter 2022 earnings estimates for BayCom in a report released Monday, April 25. DA Davidson analyst G. Tenner expects the company to earn $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. BayCom (NASDAQ:BCML – Get a rating) last announced its quarterly results on Thursday, April 21. The company reported EPS of $0.51 for the quarter, beating analyst consensus estimates of $0.36 by $0.15. The company posted revenue of $26.75 million in the quarter, compared to $24.30 million expected by analysts. BayCom had a net margin of 22.74% and a return on equity of 8.80%.

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

NASDAQ: BCML opened at $23.29 on Tuesday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt ratio of 0.27. The company has a 50-day moving average price of $22.15. BayCom has a 1-year low of $16.47 and a 1-year high of $23.52. The company has a market capitalization of $318.72 million, a PE ratio of 11.53 and a beta of 0.81.

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The company also recently declared a quarterly dividend, which was paid on Friday, April 15. Shareholders of record on Friday, March 11 received a dividend of $0.05 per share. This represents a dividend of $0.20 on an annualized basis and a yield of 0.86%. The ex-dividend date was Thursday, March 10. BayCom’s dividend payout ratio (DPR) is currently 9.90%.

Several institutional investors have recently changed their positions in the company. The Manufacturers Life Insurance Company increased its stake in BayCom by 18.3% in the third quarter. The Manufacturers Life Insurance Company now owns 703,253 shares of the company valued at $13,081,000 after acquiring an additional 108,705 shares during the period. Petiole USA ltd acquired a new stake in BayCom in the fourth quarter valued at approximately $1,485,000. Greenwich Investment Management Inc. acquired a new stake in BayCom in the fourth quarter valued at approximately $1,369,000. Victory Capital Management Inc. increased its stake in BayCom by 30.1% in the fourth quarter. Victory Capital Management Inc. now owns 169,247 shares of the company valued at $3,175,000 after purchasing an additional 39,110 shares last quarter. Finally, Two Sigma Advisers LP acquired a new stake in BayCom in the third quarter valued at approximately $452,000. Institutional investors hold 53.08% of the company’s shares.

About BayCom (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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