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BayCom Corp (BCML)

Company Dividend Discount ModelIndustry: Banks - RegionalSector: Financial Services

Valuation Snapshot

Stable Growth$33.82 - $65.08$46.32
Multi-Stage$31.14 - $34.08$32.58
Blended Fair Value$39.45
Current Price$28.75
Upside37.23%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS0.00%0.00%0.310.330.180.000.000.000.000.000.000.00
YoY Growth---7.20%80.05%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--1.21%1.60%1.07%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)23.19
(-) Cash Dividends Paid (M)3.93
(=) Cash Retained (M)19.26
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)4.642.901.74
Cash Retained (M)19.2619.2619.26
(-) Cash Required (M)-4.64-2.90-1.74
(=) Excess Retained (M)14.6316.3617.52
(/) Shares Outstanding (M)11.0511.0511.05
(=) Excess Retained per Share1.321.481.59
LTM Dividend per Share0.360.360.36
(+) Excess Retained per Share1.321.481.59
(=) Adjusted Dividend1.681.841.94
WACC / Discount Rate9.10%9.10%9.10%
Growth Rate3.94%4.94%5.94%
Fair Value$33.82$46.32$65.08
Upside / Downside17.64%61.12%126.35%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)23.1924.3425.5426.8028.1229.5130.40
Payout Ratio16.94%31.55%46.16%60.78%75.39%90.00%92.50%
Projected Dividends (M)3.937.6811.7916.2921.2026.5628.12

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.10%9.10%9.10%
Growth Rate3.94%4.94%5.94%
Year 1 PV (M)6.977.047.11
Year 2 PV (M)9.729.9110.10
Year 3 PV (M)12.1912.5412.91
Year 4 PV (M)14.4014.9715.54
Year 5 PV (M)16.3817.1918.02
PV of Terminal Value (M)284.39298.34312.83
Equity Value (M)344.05359.98376.50
Shares Outstanding (M)11.0511.0511.05
Fair Value$31.14$32.58$34.08
Upside / Downside8.32%13.33%18.53%

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