BayCom Corp (NASDAQ:BCML) Short Interest Update

BayCom Corp (NASDAQ:BCML) was the target of a large decrease in short interest in September. As of September 30th, there was short interest totalling 43,800 shares, a decrease of 12.2% from the September 15th total of 49,900 shares. Based on an average daily trading volume, of 20,600 shares, the short-interest ratio is presently 2.1 days. Approximately 0.4% of the shares of the stock are short sold.

Institutional Investors Weigh In On BayCom

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in shares of BayCom by 0.4% during the first quarter. Vanguard Group Inc. now owns 668,965 shares of the company’s stock valued at $13,787,000 after purchasing an additional 2,801 shares during the last quarter. BNP Paribas Financial Markets raised its position in shares of BayCom by 38.5% during the first quarter. BNP Paribas Financial Markets now owns 22,170 shares of the company’s stock worth $457,000 after acquiring an additional 6,158 shares during the last quarter. Quadrature Capital Ltd acquired a new position in shares of BayCom during the first quarter valued at $465,000. Empowered Funds LLC boosted its holdings in BayCom by 7.8% in the first quarter. Empowered Funds LLC now owns 29,027 shares of the company’s stock valued at $598,000 after acquiring an additional 2,100 shares during the last quarter. Finally, LSV Asset Management increased its position in BayCom by 17.8% in the first quarter. LSV Asset Management now owns 35,807 shares of the company’s stock worth $738,000 after purchasing an additional 5,399 shares during the period. Institutional investors and hedge funds own 66.16% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Hovde Group started coverage on BayCom in a research note on Friday, July 12th. They issued an “outperform” rating and a $24.00 price target on the stock.

BayCom Price Performance

Shares of BayCom stock traded up $0.01 during mid-day trading on Tuesday, reaching $23.92. 1,056 shares of the stock were exchanged, compared to its average volume of 22,233. The company has a market cap of $269.05 million, a price-to-earnings ratio of 10.82 and a beta of 0.77. The firm has a 50-day simple moving average of $22.76 and a 200 day simple moving average of $21.33. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.23. BayCom has a fifty-two week low of $18.54 and a fifty-two week high of $25.04.

BayCom (NASDAQ:BCML) last released its quarterly earnings results on Thursday, July 18th. The company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. BayCom had a return on equity of 7.84% and a net margin of 17.88%. The business had revenue of $33.89 million for the quarter, compared to analyst estimates of $23.80 million. On average, sell-side analysts predict that BayCom will post 1.95 EPS for the current fiscal year.

BayCom Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Thursday, September 19th were given a dividend of $0.10 per share. The ex-dividend date was Thursday, September 19th. This represents a $0.40 annualized dividend and a yield of 1.67%. BayCom’s dividend payout ratio (DPR) is 18.10%.

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.