BayCom Corp (NASDAQ:BCML) Short Interest Up 10.6% in November

BayCom Corp (NASDAQ:BCML) saw a large increase in short interest in November. As of November 30th, there was short interest totalling 48,200 shares, an increase of 10.6% from the November 15th total of 43,600 shares. Currently, 0.5% of the company’s stock are sold short. Based on an average daily volume of 22,800 shares, the short-interest ratio is presently 2.1 days.

BayCom Stock Performance

NASDAQ BCML opened at $28.87 on Friday. BayCom has a 52-week low of $18.54 and a 52-week high of $30.13. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.04 and a current ratio of 1.04. The company has a 50-day simple moving average of $26.51 and a 200 day simple moving average of $23.40. The company has a market capitalization of $321.06 million, a PE ratio of 13.75 and a beta of 0.79.

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

BayCom Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Thursday, December 12th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 2.08%. This is an increase from BayCom’s previous quarterly dividend of $0.10. The ex-dividend date is Thursday, December 12th. BayCom’s dividend payout ratio (DPR) is presently 28.57%.

Institutional Investors Weigh In On BayCom

Large investors have recently added to or reduced their stakes in the business. Panagora Asset Management Inc. purchased a new position in BayCom in the second quarter worth $211,000. Martingale Asset Management L P increased its stake in shares of BayCom by 20.1% during the third quarter. Martingale Asset Management L P now owns 23,341 shares of the company’s stock valued at $554,000 after buying an additional 3,900 shares during the period. Captrust Financial Advisors lifted its holdings in BayCom by 4.4% in the third quarter. Captrust Financial Advisors now owns 23,361 shares of the company’s stock worth $554,000 after buying an additional 978 shares during the period. Barclays PLC lifted its position in BayCom by 61.3% during the third quarter. Barclays PLC now owns 27,486 shares of the company’s stock valued at $651,000 after buying an additional 10,442 shares during the period. Finally, Empowered Funds LLC boosted its stake in BayCom by 5.2% during the third quarter. Empowered Funds LLC now owns 32,795 shares of the company’s stock worth $778,000 after acquiring an additional 1,608 shares in the last quarter. Institutional investors own 66.16% of the company’s stock.

Analysts Set New Price Targets

Separately, Hovde Group lifted 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.