BayCom Corp (NASDAQ:BCAL) Maintains Fair Value; Momentum Points To Rangebound Action

Modest fundamental strength pairs with mixed technical momentum, suggesting limited directional conviction near term. Expect price action to trade inside recent ranges while fundamentals anchor valuation.

Recent News

On May 28, 2026 the company’s board declared a regular quarterly cash dividend of $0.10 per share, payable July 15, 2026 to holders of record at the close of business on June 23, 2026.

On June 3, 2026 filings show a board director received an award of 3,196 restricted stock units that vest in 2027.

Technical Analysis

Directional indicators (ADX / DI+ / DI-): ADX at 13.68 signals no clear trend, implying limited trend-following edge. DI+ shows a peak-and-reversal (bearish), while DI- registers a decreasing reading (bullish); together these mixed directional signals favor rangebound trading and reduce the probability of a sustained directional breakout.

MACD: The MACD registers a peak-and-reversal, which signals bearish momentum; note the MACD value sits marginally above its signal line (0.23 vs. 0.22), indicating only a minor short-term bias that conflicts with the broader MACD topping behavior.

MRO (Momentum/Regression Oscillator) and RSI: MRO at 29.24 (positive) indicates the market price sits above the target and faces downward pressure; the MRO’s peak-and-reversal aligns with topping risk. RSI at 56.66 and increasing shows mild bullish internal momentum, supporting short-lived strength inside the existing range rather than a decisive trend.

Price vs. moving averages and other overlays: Closing price $19.70 exceeds the 12-day EMA ($19.54), 26-day EMA ($19.30), 20-day average ($19.49), 50-day average ($18.96) and 200-day average ($18.27), indicating price sits above key averages while volatility remains low. Bollinger band position shows price below the 1x upper band ($19.85), and Ichimoku lines (Tenkan $19.32, Kijun $18.96) sit below price, giving shallow technical support. Low ADX and the mixed indicator set imply intrarange setups suit near-term trading.

 


Fundamental Analysis

Earnings and cash flow: Q1 results show diluted EPS $0.42 versus an estimate of $0.40, a $0.02 beat (5% surprise). Net income totaled $13.79M on total revenue $44.22M for the quarter; operating cash flow $8.535M and free cash flow $8.299M. Free cash flow yield stands at 1.42% and declined QoQ by 59.14% and YoY by 3.80% on the supplied metrics, indicating compressed free cash generation versus recent periods.

Profitability and returns: Return on assets equals 0.34% and return on equity equals 2.39%; both declined QoQ and YoY. RoA and RoE sit below the provided industry peer means (RoA mean 0.382%, RoE mean 4.934%), indicating lower profitability relative to the peer benchmarks included in the supplied industry peer statistics.

Growth and quality: YoY revenue change registers -2.00% while QoQ revenue contracted roughly -22.77%, reflecting near-term top-line pressure. Earnings growth reads -16.0% overall with a YoY earnings change of -9.16%, consistent with the negative PE-to-growth readings and a negative PEG ratio (-2.71), which reflects lower expected growth relative to current earnings multiples.

Capital structure and liquidity: Total assets $4.0487B, cash $56.39M, and end-period cash flows $411.14M. Debt-to-assets 1.32% and debt-to-equity 9.24% indicate a conservative leverage profile, materially below the supplied industry peer mean for debt-to-equity (2.11388 in numeric terms). Tangible book and capitalization metrics show modest capital cushions given total equity $577.835M.

Market multiples and valuation context: P/E stands at 43.36x with forward P/E ~39.75x; P/B equals 1.01 and P/S equals 13.24x. Compared with the supplied industry peer measures, the P/B sits marginally below the industry peer mean (industry peer mean P/B 1.08846, median 1.32816) while the trailing P/E sits below the industry peer mean (industry peer mean P/E 54.34398, median 53.87523). Forward P/E also sits below the supplied industry peer mean (industry peer mean forward P/E 43.62184). WMDST values the stock as fair-valued based on these cross-sectional multiples and the company’s cash flow profile.

Dividends and shareholder returns: Dividend rate on file equals $0.10105 (yield 0.56%) with a dividend payout ratio ~23.56% and dividend coverage ~4.24x; the board’s recent declaration of $0.10 per share aligns with the company’s stated payout stance and the payout metrics shown above. Recent share-repurchase activity reduced tangible book per share slightly, according to the report metrics supplied.

Valuation takeaway: Fundamentals show a mixed picture—solid capital and low leverage, but compressed revenue and earnings growth plus weaker free cash flow trends. Multiples sit modestly below the supplied industry peer means on a forward basis while P/S appears elevated; WMDST’s fair-valued designation reflects that balance.

MOST-RECENT QUARTERLY REPORT
REPORT PERIOD ENDING: 2026-03-31
REPORT DATE: 2026-04-28
NEXT REPORT DATE: 2026-07-28
CASH FLOW  Begin Period Cash Flow 399.9 M
 Operating Cash Flow 8.5 M
 Capital Expenditures -236.00 K
 Change In Working Capital -6.42 M
 Dividends Paid -3.25 M
 Cash Flow Delta 11.2 M
 End Period Cash Flow 411.1 M
 
INCOME STATEMENT REVENUE
 Total Revenue 44.2 M
 Forward Revenue 11.8 M
COSTS
 Cost Of Revenue
 Depreciation 374.0 K
 Depreciation and Amortization 1.2 M
 Research and Development
 Total Operating Expenses
PROFITABILITY
 Gross Profit
 EBITDA
 EBIT
 Operating Income
 Interest Income 53.8 M
 Interest Expense 11.7 M
 Net Interest Income 42.1 M
 Income Before Tax 19.1 M
 Tax Provision 5.3 M
 Tax Rate 27.758 %
 Net Income 13.8 M
 Net Income From Continuing Operations 13.8 M
EARNINGS
 EPS Estimate 0.40
 EPS Actual 0.42
 EPS Difference 0.02
 EPS Surprise 5.0 %
 Forward EPS 0.46
 
BALANCE SHEET ASSETS
 Total Assets 4.0 B
 Intangible Assets 128.6 M
 Net Tangible Assets 449.2 M
 Total Current Assets
 Cash and Short-Term Investments
 Cash 56.4 M
 Net Receivables
 Inventory
 Long-Term Investments
LIABILITIES
 Accounts Payable
 Short-Term Debt
 Total Current Liabilities
 Net Debt
 Total Debt 53.4 M
 Total Liabilities 3.5 B
EQUITY
 Total Equity 577.8 M
 Retained Earnings 146.4 M
VALUATION & PER-SHARE METRICS EQUITY & PER-SHARE METRICS
 Book Value Per-Share 17.97
 Shares Outstanding 32.152 M
 Revenue Per-Share 1.38
VALUATION
 Market Capitalization 585.6 M
 Enterprise Value 639.0 M
 Enterprise Multiple
Enterprise Multiple QoQ
Enterprise Multiple YoY
Enterprise Multiple IPRWA
 EV/R 14.449
CAPITAL STRUCTURE
 Asset To Equity 7.007
 Asset To Liability 1.166
 Debt To Capital 0.085
 Debt To Assets 0.013
Debt To Assets QoQ 0.841 %
Debt To Assets YoY -39.936 %
Debt To Assets IPRWA high: 0.242
mean: 0.163
median: 0.159
BCAL: 0.013
low: 0.002
 Debt To Equity 0.092
Debt To Equity QoQ 0.983 %
Debt To Equity YoY -43.842 %
Debt To Equity IPRWA high: 4.312
median: 2.341
mean: 2.114
BCAL: 0.092
low: 0.017
PRICE-BASED VALUATION
 Price To Book (P/B) 1.013
Price To Book QoQ -2.616 %
Price To Book YoY 15.312 %
Price To Book IPRWA high: 2.882
median: 1.328
mean: 1.088
BCAL: 1.013
low: 0.001
 Price To Earnings (P/E) 43.362
Price To Earnings QoQ 17.145 %
Price To Earnings YoY 56.452 %
Price To Earnings IPRWA high: 70.027
mean: 54.344
median: 53.875
BCAL: 43.362
low: 0.034
 PE/G Ratio -2.71
 Price To Sales (P/S) 13.242
Price To Sales QoQ 1.3 %
Price To Sales YoY 27.095 %
Price To Sales IPRWA high: 28.872
BCAL: 13.242
median: 8.597
mean: 7.508
low: 0.006
FORWARD MULTIPLES
Forward P/E 39.745
Forward PE/G -2.484
Forward P/S 49.749
EFFICIENCY OPERATIONAL
 Operating Leverage
ASSET & SALES
 Asset Turnover Ratio 0.011
Asset Turnover Ratio QoQ -3.1 %
Asset Turnover Ratio YoY -2.147 %
Asset Turnover Ratio IPRWA high: 0.025
BCAL: 0.011
mean: 0.011
median: 0.011
low: 0.004
 Receivables Turnover
Receivables Turnover Ratio QoQ
Receivables Turnover Ratio YoY
Receivables Turnover Ratio IPRWA
 Inventory Turnover
Inventory Turnover Ratio QoQ
Inventory Turnover Ratio YoY
Inventory Turnover Ratio IPRWA
 Days Sales Outstanding (DSO)
CASH CYCLE
 Cash Conversion Cycle Days (CCC)
Cash Conversion Cycle Days QoQ
Cash Conversion Cycle Days YoY
Cash Conversion Cycle Days IPRWA high: 42.034
mean: 31.604
low: 29.772
median: 29.772
BCAL: 0
CAPITAL DEPLOYMENT
 Cash Conversion Ratio
 CapEx To Revenue -0.005
 CapEx To Depreciation -0.631
 
CAPITAL, LIQUIDITY & COVERAGE CAPITAL STRUCTURE
 Total Capital 612.1 M
 Net Invested Capital 612.1 M
 Invested Capital 612.1 M
 Net Tangible Assets 449.2 M
 Net Working Capital
LIQUIDITY
 Cash Ratio
 Current Ratio
Current Ratio QoQ
Current Ratio YoY
Current Ratio IPRWA
 Quick Ratio
Quick Ratio QoQ
Quick Ratio YoY
Quick Ratio IPRWA
COVERAGE & LEVERAGE
 Debt To EBITDA
 Cost Of Debt 18.483 %
 Interest Coverage Ratio
Interest Coverage Ratio QoQ
Interest Coverage Ratio YoY
Interest Coverage Ratio IPRWA
 Operating Cash Flow Ratio
TIMING / LIQUIDITY
 Days Payables Outstanding (DPO)
DIVIDENDS
 Dividend Coverage Ratio 4.245
 Dividend Payout Ratio 0.236
 Dividend Rate 0.10
 Dividend Yield 0.006
PERFORMANCE GROWTH
 Asset Growth Rate 0.381 %
 Revenue Growth 1.587 %
Revenue Growth QoQ -22.774 %
Revenue Growth YoY -200.0 %
Revenue Growth IPRWA high: 25.524 %
BCAL: 1.587 %
mean: 0.363 %
median: -1.929 %
low: -16.051 %
 Earnings Growth -16.0 %
Earnings Growth QoQ -483.969 %
Earnings Growth YoY -915.91 %
Earnings Growth IPRWA high: 49.694 %
mean: 4.056 %
median: 3.333 %
BCAL: -16.0 %
low: -29.412 %
MARGINS
 Gross Margin
Gross Margin QoQ
Gross Margin YoY
Gross Margin IPRWA
 EBIT Margin
EBIT Margin QoQ
EBIT Margin YoY
EBIT Margin IPRWA
 Return On Sales (ROS)
Return On Sales QoQ
Return On Sales YoY
Return On Sales IPRWA
CASH FLOW
 Free Cash Flow (FCF) 8.3 M
 Free Cash Flow Yield 1.417 %
Free Cash Flow Yield QoQ -59.141 %
Free Cash Flow Yield YoY -3.802 %
Free Cash Flow Yield IPRWA high: 35.898 %
median: 1.458 %
BCAL: 1.417 %
mean: -0.088 %
low: -4.948 %
 Free Cash Growth -60.118 %
Free Cash Growth QoQ -293.119 %
Free Cash Growth YoY -14.988 %
Free Cash Growth IPRWA high: 219.58 %
BCAL: -60.118 %
median: -120.96 %
mean: -156.372 %
low: -635.913 %
 Free Cash To Net Income 0.602
 Cash Flow Margin 33.841 %
 Cash Flow To Earnings 1.085
VALUE & RETURNS
 Economic Value Added 0.05
 Return On Assets (ROA) 0.341 %
Return On Assets QoQ -15.594 %
Return On Assets YoY -19.002 %
Return On Assets IPRWA high: 0.614 %
median: 0.396 %
mean: 0.382 %
BCAL: 0.341 %
low: 0.034 %
 Return On Capital Employed (ROCE)
 Return On Equity (ROE) 0.024
Return On Equity QoQ -16.187 %
Return On Equity YoY -24.748 %
Return On Equity IPRWA high: 0.058
mean: 0.049
median: 0.049
BCAL: 0.024
low: 0.003
 DuPont ROE 2.389 %
 Return On Invested Capital (ROIC)
Return On Invested Capital QoQ
Return On Invested Capital YoY
Return On Invested Capital IPRWA

Six-Week Outlook

Expect rangebound price action with limited trend-following opportunities over the next six weeks. Low ADX, mixed DI signals, and a topping MRO favor mean-reversion setups; momentum indicators (RSI and price above short EMAs) support intermittent rallies toward the near resistance zone around the recent upper Bollinger band (~$19.85–$20.20) and the $20.73 mean price target. Defensive risk management best suits swing positions given compressed free cash flow and tepid earnings growth relative to historical peers.

About BayCom Corp

Southern California Bancorp (NASDAQ:BCAL) serves as the bank holding company for Bank of Southern California, N.A., delivering a broad range of financial services tailored to meet the needs of individuals, professionals, and small to medium-sized enterprises across California. Headquartered in San Diego, the company offers a comprehensive suite of banking solutions, including checking and savings accounts, money market accounts, and certificates of deposit. Southern California Bancorp supports clients’ financial growth through various lending options, such as home equity lines of credit, business loans, commercial real estate and construction loans, and small business administration loans. The institution enhances financial flexibility by providing personal and business credit cards. In addition to traditional banking services, the company offers innovative solutions like cash vault services, sweep accounts, remote deposit capture, and merchant services. Its digital platforms, including online and mobile banking, enable clients to manage their finances efficiently and conveniently. With a commitment to customer service and community involvement, Southern California Bancorp remains a reliable financial partner in the region.



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