NasdaqGS:BCML

Stock Analysis Report

NOT FOR DISTRIBUTION
Header cover image

Executive Summary

BayCom Corp operates as the bank holding company for United Business Bank that provides various financial services to businesses, business owners, and individuals.


Snowflake Analysis

Flawless balance sheet and undervalued.


Similar Companies

Share Price & News

How has BayCom's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: BCML's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

-1.3%

BCML

0.5%

US Banks

-0.7%

US Market


1 Year Return

-48.3%

BCML

-26.2%

US Banks

5.3%

US Market

Return vs Industry: BCML underperformed the US Banks industry which returned -27.6% over the past year.

Return vs Market: BCML underperformed the US Market which returned 6.7% over the past year.


Shareholder returns

BCMLIndustryMarket
7 Day-1.3%0.5%-0.7%
30 Day-11.1%-4.4%4.6%
90 Day3.7%2.0%14.0%
1 Year-48.3%-48.3%-23.6%-26.2%7.6%5.3%
3 Year-31.5%-31.5%-15.0%-21.8%34.9%26.1%
5 Year0.2%0.2%7.0%-6.0%62.3%44.7%

Price Volatility Vs. Market

How volatile is BayCom's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is BayCom undervalued compared to its fair value and its price relative to the market?

48.9%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: BCML ($11.72) is trading below our estimate of fair value ($22.92)

Significantly Below Fair Value: BCML is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: BCML is poor value based on its PE Ratio (9.4x) compared to the US Banks industry average (9.2x).

PE vs Market: BCML is good value based on its PE Ratio (9.4x) compared to the US market (16.2x).


Price to Earnings Growth Ratio

PEG Ratio: BCML is good value based on its PEG Ratio (0.5x)


Price to Book Ratio

PB vs Industry: BCML is good value based on its PB Ratio (0.6x) compared to the US Banks industry average (0.8x).


Next Steps

Future Growth

How is BayCom forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?

20.1%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: BCML's forecast earnings growth (20.1% per year) is above the savings rate (2.2%).

Earnings vs Market: BCML's earnings (20.1% per year) are forecast to grow slower than the US market (22.9% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: BCML's revenue (1.1% per year) is forecast to grow slower than the US market (9.4% per year).

High Growth Revenue: BCML's revenue (1.1% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if BCML's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has BayCom performed over the past 5 years?

20.9%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: BCML has a large one-off loss of $9.6M impacting its March 31 2020 financial results.

Growing Profit Margin: BCML's current net profit margins (19.1%) are lower than last year (25.9%).


Past Earnings Growth Analysis

Earnings Trend: BCML's earnings have grown significantly by 20.9% per year over the past 5 years.

Accelerating Growth: BCML's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: BCML had negative earnings growth (-1%) over the past year, making it difficult to compare to the Banks industry average (1.7%).


Return on Equity

High ROE: BCML's Return on Equity (6%) is considered low.


Next Steps

Financial Health

How is BayCom's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet


Financial Institutions Analysis

Asset Level: BCML's Assets to Equity ratio (8.6x) is low.

Allowance for Bad Loans: BCML has a sufficient allowance for bad loans (105%).

Low Risk Liabilities: 93% of BCML's liabilities are made up of primarily low risk sources of funding.

Loan Level: BCML has an appropriate level of Loans to Assets ratio (75%).

Low Risk Deposits: BCML's Loans to Deposits ratio (91%) is appropriate.

Level of Bad Loans: BCML has an appropriate level of bad loans (0.5%).


Next Steps

Dividend

What is BayCom current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

Notable Dividend: Unable to evaluate BCML's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate BCML's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if BCML's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if BCML's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of BCML's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

  • Explore strong dividend paying companies in the Banks industry.

Management

How experienced are the management team and are they aligned to shareholders interests?

3.5yrs

Average management tenure


CEO

George Guarini (66yo)

3.5yrs

Tenure

US$1,999,940

Compensation

Mr. George J. Guarini is a founding member, Chief Executive Officer and President of United Business Bank ( Previousliy Known as Bay Commercial Bank) since 2004. Mr. Guarini has been the Chief Executive Of ...


CEO Compensation Analysis

Compensation vs Market: George's total compensation ($USD2.00M) is above average for companies of similar size in the US market ($USD612.38K).

Compensation vs Earnings: George's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.


Leadership Team

NamePositionTenureCompensationOwnership
George Guarini
President3.5yrsUS$2.00m1.37% $1.9m
Keary Colwell
Senior EVP3.5yrsUS$874.37k0.50% $708.4k
Janet King
Senior EVP & COO3.5yrsUS$877.44k0.54% $767.0k
Mary Curley
Executive VP & Director of Labor Service Division of United Business Bank3.25yrsno data0.026% $37.1k
David Funkhouser
Executive VP & Chief Credit Officer of United Business Bank5.08yrsno data0.027% $38.3k
Young Yun
Executive VP & Chief Marketing Officer of United Business Bank4.33yrsno data0.021% $29.3k
Izabella Zhu
Executive VP & Chief Risk Officer of United Business Bank6.83yrsno data0.028% $39.8k
Rick Pak
Executive VP & Chief Lending Officer of United Business Bank1.5yrsno data0.012% $16.6k

3.5yrs

Average Tenure

58.5yo

Average Age

Experienced Management: BCML's management team is considered experienced (3.5 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
George Guarini
President3.5yrsUS$2.00m1.37% $1.9m
Lloyd Kendall
Independent Chairman of the Board3.5yrsUS$110.99k0.69% $979.6k
Robert Laverne
Independent Director4.5yrsUS$78.89k0.91% $1.3m
James Camp
Independent Director4.5yrsUS$72.14k0.92% $1.3m
David Spatz
Independent Director4.5yrsUS$84.79k0.41% $584.7k
Malcolm Hotchkiss
Independent Director3.25yrsUS$80.03k0.13% $179.5k
Bhupen Amin
Directorno datano datano data
Harpreet Chaudhary
Independent Director3.5yrsUS$98.94k0.32% $457.6k
Pramod Patel
Director of BC Bank8.75yrsno datano data
Jon Davis
Independent Director3.25yrsUS$27.35k0.033% $46.4k
Syvia Magid
Independent Director0.58yrno datano data

3.5yrs

Average Tenure

66yo

Average Age

Experienced Board: BCML's board of directors are considered experienced (3.5 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: BCML insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

BayCom Corp's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: BayCom Corp
  • Ticker: BCML
  • Exchange: NasdaqGS
  • Founded: 2004
  • Industry: Regional Banks
  • Sector: Banks
  • Market Cap: US$141.782m
  • Shares outstanding: 12.10m
  • Website: https://www.unitedbusinessbank.com

Number of Employees


Location

  • BayCom Corp
  • 500 Ygnacio Valley Road
  • Suite 200
  • Walnut Creek
  • California
  • 94596
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
BCMLNasdaqGS (Nasdaq Global Select)YesCommon StockUSUSDAug 2004
B2JDB (Deutsche Boerse AG)YesCommon StockDEEURAug 2004

Biography

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. 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, account reconciliation, and escrow services, as well as facilitates tax-deferred commercial exchanges and provides zero balance accounts and sweep accounts including loan sweep. It operates through a network of 22 full service branches in San Francisco Bay Area, California; 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 founded in 2004 and is headquartered in Walnut Creek, California. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/07/14 00:05
End of Day Share Price2020/07/13 00:00
Earnings2020/03/31
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.