BayCom Corp (NASDAQ:BCML) Sees Significant Decrease in Short Interest

BayCom Corp (NASDAQ:BCML) saw a large drop in short interest in the month of December. As of December 15th, there was short interest totalling 37,100 shares, a drop of 23.0% from the November 30th total of 48,200 shares. Currently, 0.4% of the shares of the stock are sold short. Based on an average trading volume of 26,500 shares, the short-interest ratio is presently 1.4 days.

Hedge Funds Weigh In On BayCom

Several institutional investors have recently added to or reduced their stakes in BCML. Bank of New York Mellon Corp grew its position in BayCom by 3.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 45,509 shares of the company’s stock worth $926,000 after acquiring an additional 1,380 shares during the last quarter. Panagora Asset Management Inc. acquired a new position in BayCom in the second quarter worth $211,000. Acadian Asset Management LLC grew its holdings in shares of BayCom by 5.8% during the second quarter. Acadian Asset Management LLC now owns 209,844 shares of the company’s stock worth $4,268,000 after purchasing an additional 11,484 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of BayCom by 2.7% in the second quarter. Dimensional Fund Advisors LP now owns 594,015 shares of the company’s stock valued at $12,088,000 after buying an additional 15,798 shares in the last quarter. Finally, Renaissance Technologies LLC raised its holdings in shares of BayCom by 3.2% in the second quarter. Renaissance Technologies LLC now owns 80,500 shares of the company’s stock valued at $1,638,000 after buying an additional 2,500 shares during the last quarter. 66.16% of the stock is owned by institutional investors.

BayCom Price Performance

Shares of BCML stock traded down $0.41 during trading hours on Friday, hitting $26.77. The company had a trading volume of 27,079 shares, compared to its average volume of 23,982. 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 firm has a market capitalization of $297.71 million, a price-to-earnings ratio of 12.75 and a beta of 0.79. BayCom has a 12 month low of $18.54 and a 12 month high of $30.13. The firm’s fifty day moving average is $27.20 and its 200 day moving average is $23.95.

BayCom (NASDAQ:BCML) last announced its quarterly earnings results on Thursday, October 17th. The company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.07. BayCom had a return on equity of 7.56% and a net margin of 17.22%. The firm had revenue of $25.61 million for the quarter, compared to analysts’ expectations of $23.70 million. On average, sell-side analysts predict that BayCom will post 2.06 EPS for the current fiscal year.

BayCom Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Thursday, December 12th will be issued a $0.15 dividend. This is a positive change from BayCom’s previous quarterly dividend of $0.10. The ex-dividend date is Thursday, December 12th. This represents a $0.60 annualized dividend and a dividend yield of 2.24%. BayCom’s dividend payout ratio is presently 28.57%.

Analyst Upgrades and Downgrades

Separately, Hovde Group upped their target price on shares of BayCom from $26.00 to $28.00 and gave the company an “outperform” rating in a research note on Friday, October 18th.

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.