BayCom (NASDAQ:BCML) Given New $28.00 Price Target at Hovde Group

BayCom (NASDAQ:BCML) had its target price raised by Hovde Group from $26.00 to $28.00 in a report published on Friday, Marketbeat reports. Hovde Group currently has an outperform rating on the stock.

BayCom Stock Down 1.9 %

Shares of NASDAQ:BCML opened at $24.05 on Friday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.23. BayCom has a 12 month low of $18.54 and a 12 month high of $25.04. The company has a 50-day moving average price of $23.03 and a 200 day moving average price of $21.45. The company has a market cap of $270.51 million, a price-to-earnings ratio of 10.88 and a beta of 0.77.

BayCom Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Thursday, September 19th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date of this dividend was Thursday, September 19th. BayCom’s payout ratio is 18.10%.

Institutional Trading of BayCom

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Panagora Asset Management Inc. purchased a new stake in BayCom in the 2nd quarter worth about $211,000. BNP Paribas Financial Markets raised its position in BayCom by 38.5% in the 1st quarter. BNP Paribas Financial Markets now owns 22,170 shares of the company’s stock worth $457,000 after purchasing an additional 6,158 shares during the period. Quadrature Capital Ltd purchased a new stake in BayCom in the 1st quarter worth about $465,000. Empowered Funds LLC raised its position in BayCom by 7.8% in the 1st quarter. Empowered Funds LLC now owns 29,027 shares of the company’s stock worth $598,000 after purchasing an additional 2,100 shares during the period. Finally, LSV Asset Management raised its position in BayCom by 17.8% in the 1st quarter. LSV Asset Management now owns 35,807 shares of the company’s stock worth $738,000 after purchasing an additional 5,399 shares during the period. 66.16% of the stock is owned by hedge funds and other institutional investors.

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.