BayCom Corp (NASDAQ:BCML) Short Interest Down 12.7% in January

BayCom Corp (NASDAQ:BCML) was the recipient of a significant decrease in short interest in the month of January. As of January 31st, there was short interest totalling 51,700 shares, a decrease of 12.7% from the January 15th total of 59,200 shares. Based on an average trading volume of 30,600 shares, the days-to-cover ratio is currently 1.7 days. Currently, 0.5% of the shares of the company are sold short.

Institutional Investors Weigh In On BayCom

Several large investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. grew its holdings in BayCom by 46.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,347 shares of the company’s stock worth $36,000 after buying an additional 428 shares in the last quarter. Russell Investments Group Ltd. grew its stake in shares of BayCom by 3,097.3% in the fourth quarter. Russell Investments Group Ltd. now owns 3,613 shares of the company’s stock worth $97,000 after purchasing an additional 3,500 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of BayCom during the fourth quarter valued at $120,000. Wells Fargo & Company MN raised its stake in shares of BayCom by 27.8% during the fourth quarter. Wells Fargo & Company MN now owns 6,141 shares of the company’s stock valued at $165,000 after purchasing an additional 1,337 shares in the last quarter. Finally, Deutsche Bank AG lifted its holdings in BayCom by 31.1% in the fourth quarter. Deutsche Bank AG now owns 6,444 shares of the company’s stock worth $173,000 after purchasing an additional 1,529 shares during the period. Institutional investors and hedge funds own 66.16% of the company’s stock.

BayCom Price Performance

Shares of NASDAQ BCML opened at $28.02 on Tuesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.04 and a quick ratio of 1.04. The firm has a market capitalization of $311.58 million, a PE ratio of 13.34 and a beta of 0.81. BayCom has a 1-year low of $18.54 and a 1-year high of $30.13. The business’s fifty day moving average price is $27.40 and its two-hundred day moving average price is $25.49.

BayCom (NASDAQ:BCML) last released its quarterly earnings data on Thursday, January 23rd. The company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. BayCom had a net margin of 17.10% and a return on equity of 7.45%. On average, research analysts expect that BayCom will post 2.48 EPS for the current year.

Analysts Set New Price Targets

Separately, Hovde Group lowered BayCom from an “outperform” rating to a “market perform” rating and set a $31.00 target price for the company. in a report on Wednesday, February 12th.

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.