Is BayCom Corp. overvalued or undervalued?

As of 25 January 2024, BayCom Corp. has moved from an attractive to a fair valuation grade. The company appears to be fairly valued based on its current metrics. Key ratios include a P/E ratio of 13, a Price to Book Value of 0.89, and an EV to EBIT of 2.90, which are in line with the industry averages.
In comparison with peers, BayCom Corp. has a P/E ratio that is slightly higher than Bridgewater Bancshares, Inc. at 11.78 and lower than Unity Bancorp, Inc. at 10.84, indicating a competitive position within its sector. The company's return on equity (ROE) stands at 7.12%, which is reasonable but not exceptional. Notably, BayCom Corp. has outperformed the S&P 500 over the past year with a return of 42.65% compared to the index's 10.26%, reinforcing its position in the market despite the recent downgrade in valuation.