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

BayCom Corp (NASDAQ:BCML) was the recipient of a significant drop in short interest during the month of October. As of October 31st, there was short interest totalling 38,400 shares, a drop of 9.6% from the October 15th total of 42,500 shares. Based on an average trading volume of 20,800 shares, the days-to-cover ratio is presently 1.8 days. Currently, 0.4% of the company’s shares are sold short.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On BayCom

A number of large investors have recently modified their holdings of BCML. Royce & Associates LP increased its position in BayCom by 11.5% during the 3rd quarter. Royce & Associates LP now owns 543,211 shares of the company’s stock worth $12,885,000 after purchasing an additional 56,066 shares in the last quarter. Quadrature Capital Ltd purchased a new position in shares of BayCom in the 1st quarter valued at $465,000. Dimensional Fund Advisors LP raised its stake in shares of BayCom by 2.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 594,015 shares of the company’s stock valued at $12,088,000 after acquiring an additional 15,798 shares during the period. Acadian Asset Management LLC lifted its holdings in shares of 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 acquiring an additional 11,484 shares in the last quarter. Finally, Barclays PLC boosted its position 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. 66.16% of the stock is currently owned by hedge funds and other institutional investors.

BayCom Trading Down 0.2 %

Shares of BCML stock traded down $0.05 during trading hours on Friday, hitting $27.30. 16,185 shares of the company were exchanged, compared to its average volume of 28,796. The firm has a fifty day moving average of $24.34 and a 200 day moving average of $22.23. 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 1 year low of $18.54 and a 1 year high of $28.62. The firm has a market cap of $303.58 million, a PE ratio of 13.00 and a beta of 0.76.

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

BayCom Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Thursday, September 19th were paid 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 1.47%. BayCom’s dividend payout ratio is presently 19.05%.

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.