BayCom Corp (NASDAQ:BCML) Sees Large Increase in Short Interest

BayCom Corp (NASDAQ:BCML) was the target of a large increase in short interest in November. As of November 15th, there was short interest totalling 43,600 shares, an increase of 13.5% from the October 31st total of 38,400 shares. Currently, 0.4% of the shares of the stock are short sold. Based on an average daily trading volume, of 21,400 shares, the days-to-cover ratio is currently 2.0 days.

BayCom Price Performance

Shares of NASDAQ BCML traded down $0.09 during midday trading on Monday, reaching $28.90. 7,980 shares of the stock traded hands, compared to its average volume of 22,731. The company’s 50 day moving average is $25.40 and its 200 day moving average is $22.82. BayCom has a one year low of $18.54 and a one year high of $30.13. The stock has a market capitalization of $321.37 million, a PE ratio of 13.80 and a beta of 0.76. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.04 and a quick ratio of 1.04.

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

BayCom Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Thursday, December 12th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 2.08%. The ex-dividend date is Thursday, December 12th. This is an increase from BayCom’s previous quarterly dividend of $0.10. BayCom’s dividend payout ratio is 19.05%.

Wall Street Analysts Forecast Growth

Separately, Hovde Group increased their price objective on shares of BayCom from $26.00 to $28.00 and gave the company an “outperform” rating in a report on Friday, October 18th.

Hedge Funds Weigh In On BayCom

A number of institutional investors have recently modified their holdings of the stock. Barclays PLC increased its holdings in BayCom by 61.3% during the 3rd quarter. Barclays PLC now owns 27,486 shares of the company’s stock worth $651,000 after purchasing an additional 10,442 shares during the period. State Street Corp increased its stake in shares of BayCom by 0.5% during the third quarter. State Street Corp now owns 163,965 shares of the company’s stock valued at $3,906,000 after buying an additional 880 shares during the period. Captrust Financial Advisors raised its holdings in shares of BayCom by 4.4% in the third quarter. Captrust Financial Advisors now owns 23,361 shares of the company’s stock valued at $554,000 after acquiring an additional 978 shares in the last quarter. Martingale Asset Management L P grew its holdings in BayCom by 20.1% during the 3rd quarter. Martingale Asset Management L P now owns 23,341 shares of the company’s stock worth $554,000 after acquiring an additional 3,900 shares in the last quarter. Finally, Empowered Funds LLC raised its holdings in shares of BayCom by 5.2% in the 3rd quarter. Empowered Funds LLC now owns 32,795 shares of the company’s stock valued at $778,000 after purchasing an additional 1,608 shares in the last quarter. 66.16% of the stock is owned by hedge funds and other institutional investors.

BayCom Company Profile

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.