UPDATE: DA Davidson Starts BayCom (BCML) at Buy

(updated to add analyst comment)

DA Davidson initiates coverage on BayCom (NASDAQ: BCML) with a Buy rating and a price target of $28.00.

Analyst Gary Tenner comments "While located in broadly attractive growth markets, BCML's strategy is M&A focused, with a mid-single digit organic growth target, to be augmented by acquisitions in a 6-state target area. The recently completed IPO provides capital and a liquid currency to support the strategy. Given our expectation of one or more transactions to be announced over the intermediate term, and the company's track record as a disciplined buyer..."

For an analyst ratings summary and ratings history on BayCom click here. For more ratings news on BayCom click here.

Shares of BayCom closed at $23.18 yesterday.

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