BayCom Corp (NASDAQ:BCML) Sees Significant Decrease in Short Interest

BayCom Corp (NASDAQ:BCML) saw a significant decline in short interest during the month of December. As of December 15th, there was short interest totalling 37,100 shares, a decline of 23.0% from the November 30th total of 48,200 shares. Based on an average daily trading volume, of 26,500 shares, the short-interest ratio is presently 1.4 days. Approximately 0.4% of the company’s stock are short sold.

BayCom Stock Performance

Shares of NASDAQ:BCML traded down $0.41 during trading on Friday, reaching $26.77. The stock had a trading volume of 27,079 shares, compared to its average volume of 23,982. The stock has a fifty day simple moving average of $27.20 and a two-hundred day simple moving average of $23.95. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.22. BayCom has a 52 week low of $18.54 and a 52 week high of $30.13. The firm has a market capitalization of $297.71 million, a price-to-earnings ratio of 12.75 and a beta of 0.79.

BayCom (NASDAQ:BCML) last posted its earnings results on Thursday, October 17th. The company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.07. The business had revenue of $25.61 million for the quarter, compared to analyst estimates of $23.70 million. BayCom had a net margin of 17.22% and a return on equity of 7.56%. As a group, analysts anticipate that BayCom will post 2.06 earnings per share for the current fiscal year.

BayCom Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Thursday, December 12th will be paid a $0.15 dividend. The ex-dividend date is Thursday, December 12th. This is a positive change from BayCom’s previous quarterly dividend of $0.10. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.24%. BayCom’s payout ratio is presently 28.57%.

Institutional Trading of BayCom

Several hedge funds have recently added to or reduced their stakes in the business. Royce & Associates LP increased its position in BayCom by 11.5% in the 3rd quarter. Royce & Associates LP now owns 543,211 shares of the company’s stock worth $12,885,000 after buying an additional 56,066 shares during the period. Dimensional Fund Advisors LP increased its position in BayCom by 2.7% during the second quarter. Dimensional Fund Advisors LP now owns 594,015 shares of the company’s stock worth $12,088,000 after acquiring an additional 15,798 shares during the period. JPMorgan Chase & Co. raised its stake in BayCom by 129.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 22,330 shares of the company’s stock valued at $530,000 after purchasing an additional 12,617 shares during the last quarter. Acadian Asset Management LLC raised its stake in BayCom by 5.8% during the 2nd quarter. Acadian Asset Management LLC now owns 209,844 shares of the company’s stock valued at $4,268,000 after purchasing an additional 11,484 shares during the last quarter. Finally, Barclays PLC boosted its holdings in BayCom by 61.3% in the 3rd quarter. Barclays PLC now owns 27,486 shares of the company’s stock valued at $651,000 after purchasing an additional 10,442 shares during the period. Institutional investors own 66.16% of the company’s stock.

Analyst Ratings Changes

Separately, Hovde Group upped their price target on BayCom from $26.00 to $28.00 and gave the stock an “outperform” rating in a research note on Friday, October 18th.

About BayCom

BayCom Corp operates as the bank holding company for United Business Bank that provides various financial services to small and mid-sized businesses, service professionals, and individuals. The company provides demand, savings, money market, and time deposit accounts. It offers commercial and multifamily real estate loans, including owner-occupied and investor real estate loans; commercial and industrial loans, such as equipment loans and working capital lines of credit; small business administration loans; construction and land loans; agriculture-related loans; and consumer loans comprising installment loans, unsecured and secured personal lines of credit, and overdraft protection.