BayCom (NASDAQ:BCML) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday, reports.

According to Zacks, “BayCom Corp provides commercial banking products and services to businesses and individuals. The company offers deposit products, loans, online banking, cash management and banking services. BayCom Corp, formerly known as Bay Commercial Bank, is based in Walnut Creek, California. “

A number of other equities research analysts also recently commented on BCML. ValuEngine upgraded BayCom from a “sell” rating to a “hold” rating in a research report on Wednesday, July 31st. B. Riley set a $28.00 target price on shares of BayCom and gave the stock a “buy” rating in a report on Friday, September 6th. One research analyst has rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $26.17.

BCML traded up $1.88 on Wednesday, reaching $23.75. The stock had a trading volume of 37,844 shares, compared to its average volume of 17,436. BayCom has a 12-month low of $17.19 and a 12-month high of $26.75. The business’s 50-day moving average price is $21.95 and its two-hundred day moving average price is $22.52. The company has a market cap of $264.79 million, a P/E ratio of 14.39, a price-to-earnings-growth ratio of 1.09 and a beta of 0.37.

BayCom (NASDAQ:BCML) last announced its earnings results on Friday, July 26th. The company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.06). The business had revenue of $18.56 million during the quarter, compared to analyst estimates of $19.48 million. Analysts predict that BayCom will post 2.02 EPS for the current year.

A number of large investors have recently made changes to their positions in the stock. River & Mercantile Asset Management LLP purchased a new stake in shares of BayCom during the 2nd quarter worth $1,942,000. Covington Capital Management acquired a new stake in BayCom in the 2nd quarter valued at about $2,266,000. Vanguard Group Inc. raised its position in BayCom by 2.8% during the second quarter. Vanguard Group Inc. now owns 458,450 shares of the company’s stock worth $10,041,000 after acquiring an additional 12,577 shares during the last quarter. BlackRock Inc. raised its position in BayCom by 3.0% during the second quarter. BlackRock Inc. now owns 522,280 shares of the company’s stock worth $11,438,000 after acquiring an additional 15,413 shares during the last quarter. Finally, Mendon Capital Advisors Corp lifted its holdings in shares of BayCom by 10.5% in the second quarter. Mendon Capital Advisors Corp now owns 198,391 shares of the company’s stock valued at $4,345,000 after purchasing an additional 18,824 shares in the last quarter. Hedge funds and other institutional investors own 58.28% of the company’s stock.

BayCom Company Profile

BayCom Corp operates as the bank holding company for United Business Bank that provides various financial services to businesses, business owners, and individuals. The company offers demand, savings, money market, and time deposit accounts. It also provides commercial and multi-family 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.

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