Short Interest in BayCom Corp (NASDAQ:BCML) Increases By 6.2%

BayCom Corp (NASDAQ:BCML) was the recipient of a large increase in short interest in September. As of September 15th, there was short interest totalling 49,900 shares, an increase of 6.2% from the August 31st total of 47,000 shares. Based on an average daily volume of 23,700 shares, the days-to-cover ratio is presently 2.1 days. Approximately 0.5% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

Separately, Hovde Group initiated coverage on BayCom in a research report on Friday, July 12th. They issued an “outperform” rating and a $24.00 target price on the stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets increased its position in BayCom by 46.8% in the 4th quarter. BNP Paribas Financial Markets now owns 16,012 shares of the company’s stock valued at $378,000 after acquiring an additional 5,106 shares during the period. LSV Asset Management grew its stake in shares of BayCom by 17.8% in the first quarter. LSV Asset Management now owns 35,807 shares of the company’s stock worth $738,000 after purchasing an additional 5,399 shares during the last quarter. Empowered Funds LLC increased its holdings in BayCom by 7.8% in the first quarter. Empowered Funds LLC now owns 29,027 shares of the company’s stock valued at $598,000 after purchasing an additional 2,100 shares during the period. Vanguard Group Inc. raised its position in BayCom by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 668,965 shares of the company’s stock worth $13,787,000 after purchasing an additional 2,801 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its holdings in BayCom by 1.1% during the 1st quarter. Acadian Asset Management LLC now owns 198,360 shares of the company’s stock worth $4,086,000 after buying an additional 2,191 shares during the period. Institutional investors own 66.16% of the company’s stock.

BayCom Price Performance

BCML stock opened at $23.12 on Wednesday. The stock has a market cap of $260.05 million, a price-to-earnings ratio of 10.46 and a beta of 0.77. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.04 and a quick ratio of 1.04. The company has a 50 day simple moving average of $22.77 and a 200 day simple moving average of $21.11. BayCom has a 1 year low of $18.54 and a 1 year high of $25.04.

BayCom (NASDAQ:BCML) last released its quarterly earnings data on Thursday, July 18th. The company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.02. BayCom had a return on equity of 7.84% and a net margin of 17.88%. The company had revenue of $33.89 million for the quarter, compared to the consensus estimate of $23.80 million. Research analysts anticipate that BayCom will post 2.04 EPS for the current fiscal year.

BayCom Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Thursday, September 19th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.73%. The ex-dividend date of this dividend is Thursday, September 19th. BayCom’s dividend payout ratio is currently 18.10%.

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.