Short Interest in BayCom Corp (NASDAQ:BCML) Expands By 13.8%

BayCom Corp (NASDAQ:BCML) was the target of a large growth in short interest in the month of June. As of June 30th, there was short interest totalling 49,400 shares, a growth of 13.8% from the June 15th total of 43,400 shares. Based on an average daily volume of 23,900 shares, the days-to-cover ratio is presently 2.1 days. Approximately 0.5% of the shares of the stock are sold short.

BayCom Price Performance

BCML stock traded up $0.46 during mid-day trading on Monday, hitting $22.16. The company had a trading volume of 15,256 shares, compared to its average volume of 23,241. The company has a market capitalization of $249.30 million, a price-to-earnings ratio of 9.82 and a beta of 0.77. The company has a 50-day moving average price of $19.92 and a 200 day moving average price of $20.34. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.23. BayCom has a 12-month low of $17.10 and a 12-month high of $24.31.

BayCom (NASDAQ:BCML) last released its quarterly earnings results on Thursday, April 18th. The company reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.05). BayCom had a net margin of 19.27% and a return on equity of 8.41%. The business had revenue of $24.47 million for the quarter, compared to analysts’ expectations of $24.80 million. On average, research analysts anticipate that BayCom will post 1.98 earnings per share for the current year.

BayCom Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 11th. Investors of record on Thursday, June 13th were given a $0.10 dividend. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $0.40 annualized dividend and a yield of 1.81%. BayCom’s dividend payout ratio is currently 18.10%.

Analyst Upgrades and Downgrades

Separately, Hovde Group assumed coverage on shares of BayCom in a research report on Friday. They set an “outperform” rating and a $24.00 price objective on the stock.

Institutional Investors Weigh In On BayCom

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC grew its stake in BayCom by 13.4% in the fourth quarter. SG Americas Securities LLC now owns 6,204 shares of the company’s stock worth $146,000 after purchasing an additional 732 shares in the last quarter. New York State Common Retirement Fund boosted its position in BayCom by 55.8% during the fourth quarter. New York State Common Retirement Fund now owns 4,505 shares of the company’s stock valued at $106,000 after purchasing an additional 1,613 shares in the last quarter. Empowered Funds LLC boosted its holdings in shares of BayCom by 7.8% in the 1st quarter. Empowered Funds LLC now owns 29,027 shares of the company’s stock valued at $598,000 after buying an additional 2,100 shares in the last quarter. Acadian Asset Management LLC grew its holdings in BayCom by 1.1% in the first quarter. Acadian Asset Management LLC now owns 198,360 shares of the company’s stock worth $4,086,000 after purchasing an additional 2,191 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in BayCom by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 668,965 shares of the company’s stock valued at $13,787,000 after buying an additional 2,801 shares in the last quarter. 66.16% of the stock is currently owned by hedge funds and other institutional investors.

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.