BayCom Corp (BCML) | Investment Case

1. Company Snapshot

1.a. Company Description

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 offers demand, savings, money market, and time deposit accounts.It also provides 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.

In addition, the company offers online and mobile banking, automated teller machine, remote deposit capture, night depository, courier, direct deposit, treasury management, wire transfer, automated clearing house services, debit cards, cashier's and travelers checks, letters of credit, lockbox, positive pay, reverse positive pay, and account reconciliation services, as well as zero balance accounts and sweep accounts, including loan sweep.As of December 31, 2021, it operated through a network of 33 full-service banking branches in Northern and Southern California; Denver, Colorado; Custer, Delta, and Grand counties, Colorado; and Seattle, Washington and Central New Mexico.The company was formerly known as Bay Commercial Bank and changed its name to BayCom Corp in January 2017.

BayCom Corp was incorporated in 2004 and is headquartered in Walnut Creek, California.

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1.b. Last Insights on BCML

The recent stock performance of BayCom Corp was negatively driven by the company's declining loan growth, despite strong earnings. The lack of loan growth is a concern, as it may indicate a slowdown in the bank's business activities. Additionally, the company's Q4 2024 earnings of $6.1 million, while beating expectations, showed a decline from the previous quarter. The absence of any notable new products, acquisitions, or share buyback announcements also contributed to the negative sentiment. The company's recent upgrade to a Zacks Rank #1 (Strong Buy) in December 2024 seems to have lost its momentum.

1.c. Company Highlights

Last Price	29.47
Change Percentage	-0.91%
Open	29.57
Previous Close	29.74
Market Cap ( Millions)	321
Volume	17157
Year High	30.96
Year Low	22.22
M A 50	28.16
M A 200	27.48

FCF Yield	9.00%
Dividend Yield	2.54%
ROE	7.04%
Debt / Equity	6.94%
Net Debt / EBIDTA	4.17%
Price To Book	0.96
Price Earnings Ratio	13.89
Price To FCF	11.11
Price To sales	2.28
EV / EBITDA	9.15

2. Transcript Summary

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3. NewsRoom

Bank of Marin Bancorp (NASDAQ:BMRC) & Bay Commercial Bank (NASDAQ:BCML) Head to Head Review

Nov -22

Source: defenseworld.net

Critical Review: Bay Commercial Bank (NASDAQ:BCML) and First Hawaiian (NASDAQ:FHB)

Nov -22

Source: defenseworld.net

Acadian Asset Management LLC Has $5.83 Million Position in Bay Commercial Bank $BCML

Nov -14

Source: defenseworld.net

Hanmi Financial (NASDAQ:HAFC) vs. Bay Commercial Bank (NASDAQ:BCML) Head to Head Contrast

Nov -03

Source: defenseworld.net

Bay Commercial Bank (BCML) Q3 Earnings Miss Estimates

Oct -23

Source: zacks.com

BayCom Corp Reports 2025 Third Quarter Earnings of $5.0 Million

Oct -23

Source: businesswire.com

Is the Options Market Predicting a Spike in BayCom Stock?

Sep -04

Source: zacks.com

4 Bank Stocks With Dividend Hikes This Week to Keep on Your Radar

Aug -22

Source: zacks.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (7.53%)

6. Segments

Banking and Related Activities

Expected Growth: 7.53%

BayCom Corp's 7.53% growth in Banking and Related Activities is driven by increasing loan demand, expansion into new markets, and strategic acquisitions. Additionally, the company's focus on digital transformation, cost savings initiatives, and strong risk management practices have contributed to its growth. Furthermore, a favorable interest rate environment and a growing deposit base have also supported the segment's growth.

7. Detailed Products

Network Infrastructure

BayCom Corp's network infrastructure products provide a comprehensive suite of solutions for building and managing high-performance networks.

Cybersecurity Solutions

BayCom Corp's cybersecurity solutions offer advanced threat detection and prevention capabilities to protect against cyber threats.

Cloud Services

BayCom Corp's cloud services provide scalable and secure cloud-based infrastructure for businesses to host their applications and data.

Data Analytics

BayCom Corp's data analytics solutions provide insights and intelligence to help businesses make data-driven decisions.

IT Consulting

BayCom Corp's IT consulting services provide expert guidance and support for businesses to optimize their IT infrastructure and operations.

8. BayCom Corp's Porter Forces

Forces Ranking

Threat Of Substitutes

BayCom Corp faces moderate threat from substitutes due to the availability of alternative products in the market.

Bargaining Power Of Customers

BayCom Corp has a diverse customer base, which reduces the bargaining power of individual customers.

Bargaining Power Of Suppliers

BayCom Corp relies heavily on a few key suppliers, giving them significant bargaining power.

Threat Of New Entrants

The high barriers to entry in the industry make it difficult for new entrants to compete with BayCom Corp.

Intensity Of Rivalry

The industry is highly competitive, with several established players competing for market share.

9. SWOT Analysis

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

	Value
Debt Weight	19.62%
Debt Cost	7.06%
Equity Weight	80.38%
Equity Cost	7.76%
WACC	7.62%
Leverage	24.41%

11. Quality Control: BayCom Corp passed 5 out of 9 key points

Strong Liquidity

Low Debt

Strong Interest Coverage

Healthy Cash Flow

Operating Efficiency

Strong Return On Equity

Consistent Revenue Growth

Consistent Operating Cash Flow Growth

Margin Improvement

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

BayCom

A-Score: 6.7/10

Value: 6.7

Growth: 7.0

Quality: 6.9

Yield: 4.0

Momentum: 7.5

Volatility: 8.0

1-Year Total Return ->

City Holding

A-Score: 6.6/10

Value: 4.5

Growth: 6.3

Quality: 7.6

Yield: 6.0

Momentum: 6.0

Volatility: 9.3

1-Year Total Return ->

First Commonwealth Financial

A-Score: 6.5/10

Value: 6.4

Growth: 5.6

Quality: 7.0

Yield: 7.0

Momentum: 5.0

Volatility: 8.0

1-Year Total Return ->

Northwest Bancshares

A-Score: 6.3/10

Value: 6.1

Growth: 3.7

Quality: 6.2

Yield: 10.0

Momentum: 3.5

Volatility: 8.3

1-Year Total Return ->

First Community Bankshares

A-Score: 6.1/10

Value: 5.9

Growth: 4.4

Quality: 8.1

Yield: 9.0

Momentum: 1.5

Volatility: 7.7

1-Year Total Return ->

First Busey

A-Score: 6.0/10

Value: 5.2

Growth: 5.2

Quality: 5.6

Yield: 8.0

Momentum: 4.0

Volatility: 8.0

1-Year Total Return ->

Peers Metrics

12.e Scoring ^Insights

12.f DCF ^BETA

Parameters

Short Term Growth

-3.61%

Short term Time

10.0

Long-Term Growth

2.00%

WACC

7.62%

BayCom Corp - US07272M1071

1. Company Snapshot

1.a. Company Description

1.b. Last Insights on BCML

1.c. Company Highlights

Higher Growth

Stable Momentum

Average Quality

Earnings Miss

Revenues Beats

Average Yield

Earnings Beats

Fairly Valued

Average Growth

Strong Momentum

Medium Volatility

Revenues Miss

2. Transcript Summary

3. NewsRoom

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (7.53%)

6. Segments

Banking and Related Activities

Expected Growth: 7.53%

7. Detailed Products

Network Infrastructure

Cybersecurity Solutions

Cloud Services

Data Analytics

IT Consulting

8. BayCom Corp's Porter Forces

Forces Ranking

Threat Of Substitutes

Bargaining Power Of Customers

Bargaining Power Of Suppliers

Threat Of New Entrants

Intensity Of Rivalry

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

11. Quality Control: BayCom Corp passed 5 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

29.47$

Current Price

29.47$

Potential

-0.00%

Expected Cash-Flows

12.e Scoring ^Insights

12.f DCF ^BETA