BayCom Corp (NASDAQ:BCML) Plans Dividend Increase – $0.15 Per Share

BayCom Corp (NASDAQ:BCML) announced a quarterly dividend on Thursday, November 21st,Wall Street Journal reports. Shareholders of record on Thursday, December 12th will be paid a dividend of 0.15 per share on Friday, January 10th. This represents a $0.60 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date is Thursday, December 12th. This is a positive change from BayCom’s previous quarterly dividend of $0.10.

BayCom has a dividend payout ratio of 18.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect BayCom to earn $2.25 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 17.8%.

BayCom Stock Up 1.6 %

BCML stock opened at $27.58 on Friday. The firm has a market capitalization of $306.69 million, a PE ratio of 13.13 and a beta of 0.76. The stock’s 50 day moving average is $24.75 and its 200-day moving average is $22.42. BayCom has a twelve month low of $18.54 and a twelve month high of $28.62. 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 (NASDAQ:BCML) last released its earnings results on Thursday, October 17th. The company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.07. The company had revenue of $25.61 million during 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%. Sell-side analysts expect that BayCom will post 2.06 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Hovde Group raised their target price on BayCom from $26.00 to $28.00 and gave the company an “outperform” rating in a research report 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.