FY2023 EPS Estimates for BayCom Corp Increased by DA Davidson (NASDAQ:BCML)

Posted by Defense World Staff on Oct 25th, 2023

BayCom Corp (NASDAQ:BCML – Free Report) – DA Davidson boosted their FY2023 earnings per share (EPS) estimates for BayCom in a note issued to investors on Monday, October 23rd. DA Davidson analyst G. Tenner now forecasts that the company will post earnings of $2.30 per share for the year, up from their prior forecast of $2.27. The consensus estimate for BayCom’s current full-year earnings is $2.24 per share. DA Davidson also issued estimates for BayCom’s FY2024 earnings at $2.39 EPS.

BayCom (NASDAQ:BCML – Get Free Report) last released its earnings results on Wednesday, July 26th. The company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.05. The firm had revenue of $25.37 million for the quarter, compared to analysts’ expectations of $25.70 million. BayCom had a return on equity of 9.26% and a net margin of 22.19%.

BayCom Stock Performance

NASDAQ:BCML opened at $19.50 on Tuesday. The stock has a market cap of $230.67 million, a P/E ratio of 8.41 and a beta of 0.69. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.24. The stock’s 50-day moving average is $19.37 and its 200-day moving average is $17.99. BayCom has a 1-year low of $15.02 and a 1-year high of $21.07.

Institutional Trading of BayCom

Several hedge funds and other institutional investors have recently made changes to their positions in BCML. Bank of America Corp DE lifted its stake in shares of BayCom by 715.5% in the first quarter. Bank of America Corp DE now owns 1,794 shares of the company’s stock worth $39,000 after acquiring an additional 1,574 shares during the period. Citigroup Inc. lifted its stake in shares of BayCom by 181,650.0% in the second quarter. Citigroup Inc. now owns 3,635 shares of the company’s stock worth $61,000 after acquiring an additional 3,633 shares during the period. UBS Group AG lifted its stake in shares of BayCom by 499.6% in the fourth quarter. UBS Group AG now owns 3,286 shares of the company’s stock worth $62,000 after acquiring an additional 2,738 shares during the period. Wells Fargo & Company MN lifted its stake in shares of BayCom by 108.1% in the second quarter. Wells Fargo & Company MN now owns 4,511 shares of the company’s stock worth $75,000 after acquiring an additional 2,343 shares during the period. Finally, SG Americas Securities LLC acquired a new position in shares of BayCom in the third quarter worth approximately $105,000. 57.09% of the stock is currently owned by institutional investors.

BayCom Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 13th. Stockholders of record on Friday, September 15th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 2.05%. The ex-dividend date of this dividend was Thursday, September 14th. BayCom’s dividend payout ratio (DPR) is currently 17.24%.

About BayCom

(Get Free Report)

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 also 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.