BayCom Q3 profit rebounds sequentially on lower expenses

Baycom

22/10/2026 21:25

Overview
U.S. bank holding company reported Q3 net income up from prior quarter, but down yr/yr
Company completed strategic repositioning of securities, resulting in losses but improved future yield
Q3 net interest margin expanded to 4.11%, loans and deposits grew

Outlook
Company expects repositioned securities portfolio to improve yield by 122 basis points going forward
BayCom anticipates recouping repositioning costs within about three years

Result Drivers
SECURITIES REPOSITIONING - Co sold $106.8 mln of investment securities at a $6.8 mln loss, redeploying proceeds into higher-yielding, shorter-duration assets to improve future profitability and interest rate risk profile
PREFERRED EQUITY SALES - Co sold $7.8 mln of preferred equity securities to reduce earnings volatility, resulting in a $589,000 net loss
STAFFING REALIGNMENT - Co incurred $192,000 in severance expense from staffing realignment actions aimed at improving operating efficiency

Company press release: ID:nBw7FSvcJa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Net Interest Income
 
$25.56 mln
 

Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the banks peer group is "buy."
Wall Street's median 12-month price target for BayCom Corp is $32.00, about 2.8% above its October 21 closing price of $31.13
The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 12 three months ago

Reuters Recommended Reads
Oct 19 - Western Alliance Bancorp Q3 revenue slightly beats estimates, profit rises on wider interest margin
Oct 20 - KeyCorp Q3 revenue rises 8% to record, profit up 24%
Oct 20 - QCR Holdings Q3 adjusted EPS beats analyst estimates

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)