BayCom Corp (BCML) Stake Raised by Metropolitan Life Insurance Co. NY
Metropolitan Life Insurance Co. NY grew its position in BayCom Corp (NASDAQ:BCML) by 356.5% during the 4th quarter, HoldingsChannel reports. The firm owned 3,771 shares of the company’s stock after purchasing an additional 2,945 shares during the quarter. Metropolitan Life Insurance Co. NY’s holdings in BayCom were worth $87,000 at the end of the most recent reporting period.
Other large investors have also recently modified their holdings of the company. Bank of Montreal Can lifted its position in BayCom by 25.4% during the 4th quarter. Bank of Montreal Can now owns 7,940 shares of the company’s stock worth $183,000 after buying an additional 1,607 shares in the last quarter. First Trust Advisors LP acquired a new position in BayCom during the 4th quarter worth about $264,000. Rhumbline Advisers lifted its position in BayCom by 47.0% during the 4th quarter. Rhumbline Advisers now owns 14,209 shares of the company’s stock worth $328,000 after buying an additional 4,542 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in BayCom during the 4th quarter worth about $390,000. Finally, Martingale Asset Management L P acquired a new position in BayCom during the 4th quarter worth about $426,000. Institutional investors own 63.71% of the company’s stock.
BCML has been the topic of several research reports. ValuEngine upgraded shares of BayCom from a “sell” rating to a “hold” rating in a research report on Wednesday, January 2nd. Hovde Group initiated coverage on shares of BayCom in a research report on Monday, February 4th. They set an “outperform” rating and a $24.50 price target on the stock. Zacks Investment Research upgraded shares of BayCom from a “hold” rating to a “strong-buy” rating and set a $26.00 price target on the stock in a research report on Thursday, January 3rd. TheStreet upgraded shares of BayCom from a “c+” rating to a “b” rating in a research report on Monday, January 28th. Finally, B. Riley initiated coverage on shares of BayCom in a research report on Friday, March 15th. They set a “buy” rating and a $28.00 price target on the stock. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $26.38.
BayCom (NASDAQ:BCML) last issued its quarterly earnings results on Tuesday, January 29th. The company reported $0.39 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.03. The company had revenue of $15.52 million for the quarter, compared to analyst estimates of $15.90 million. Analysts forecast that BayCom Corp will post 2.17 earnings per share for the current year.
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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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