River & Mercantile Asset Management LLP Makes New Investment in BayCom Corp (NASDAQ:BCML)

Share on StockTwits

River & Mercantile Asset Management LLP acquired a new position in shares of BayCom Corp (NASDAQ:BCML) in the 2nd quarter, HoldingsChannel reports. The fund acquired 88,672 shares of the company’s stock, valued at approximately $1,942,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. BlackRock Inc. grew its stake 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 buying an additional 15,413 shares during the period. Vanguard Group Inc. grew its stake 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 buying an additional 12,577 shares during the period. Mendon Capital Advisors Corp grew its stake in BayCom by 10.5% during the second quarter. Mendon Capital Advisors Corp now owns 198,391 shares of the company’s stock worth $4,345,000 after buying an additional 18,824 shares during the period. Covington Capital Management purchased a new stake in BayCom during the second quarter worth approximately $2,266,000. Finally, Northern Trust Corp grew its stake in BayCom by 4.1% during the second quarter. Northern Trust Corp now owns 96,137 shares of the company’s stock worth $2,105,000 after buying an additional 3,808 shares during the period. Institutional investors own 58.28% of the company’s stock.

Several brokerages have recently weighed in on BCML. ValuEngine upgraded shares of BayCom from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. B. Riley set a $28.00 target price on shares of BayCom and gave the company a “buy” rating in a research note on Friday, September 6th. Finally, Zacks Investment Research upgraded shares of BayCom from a “sell” rating to a “hold” rating in a research note on Wednesday, September 18th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. BayCom has a consensus rating of “Buy” and a consensus price target of $26.17.

Shares of BCML stock traded up $0.93 on Wednesday, hitting $21.94. The stock had a trading volume of 162 shares, compared to its average volume of 20,576. The firm has a market capitalization of $266.72 million, a price-to-earnings ratio of 13.30 and a beta of 0.37. The stock’s 50 day moving average is $22.26 and its 200-day moving average is $22.51. BayCom Corp has a 52-week low of $17.19 and a 52-week high of $26.75.

BayCom (NASDAQ:BCML) last announced its earnings results on Friday, July 26th. The company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.06). The firm had revenue of $18.56 million for the quarter, compared to analyst estimates of $19.48 million. Sell-side analysts expect that BayCom Corp will post 2.01 earnings per share for the current year.

About BayCom

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.

Featured Story: Fundamental Analysis and Choosing Stocks

Want to see what other hedge funds are holding BCML? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BayCom Corp (NASDAQ:BCML).

Institutional Ownership by Quarter for BayCom (NASDAQ:BCML)

Receive News & Ratings for BayCom Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BayCom and related companies with MarketBeat.com's FREE daily email newsletter.