Short Interest in BayCom Corp (NASDAQ:BCML) Drops By 19.4%

BayCom Corp (NASDAQ:BCML) was the target of a significant decline in short interest in the month of February. As of February 28th, there was short interest totalling 41,500 shares, a decline of 19.4% from the February 13th total of 51,500 shares. Approximately 0.4% of the shares of the company are short sold. Based on an average daily volume of 27,400 shares, the short-interest ratio is currently 1.5 days.

BayCom Trading Up 1.8 %

BCML stock opened at $25.69 on Thursday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.22. The firm has a market cap of $285.93 million, a P/E ratio of 12.23 and a beta of 0.82. BayCom has a 1-year low of $18.54 and a 1-year high of $30.13. The business’s 50 day moving average is $27.00 and its 200-day moving average is $26.13.

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

BayCom Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Thursday, March 13th will be given a $0.15 dividend. The ex-dividend date is Thursday, March 13th. This represents a $0.60 dividend on an annualized basis and a yield of 2.34%. BayCom’s dividend payout ratio (DPR) is presently 28.57%.

Analyst Ratings Changes

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

Insider Activity

In related news, CEO George J. Guarini sold 27,000 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $27.50, for a total value of $742,500.00. Following the completion of the transaction, the chief executive officer now directly owns 46,759 shares of the company’s stock, valued at $1,285,872.50. This trade represents a 36.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 7.20% of the stock is currently owned by company insiders.

Institutional Trading of BayCom

Several hedge funds have recently modified their holdings of the company. Wellington Management Group LLP boosted its holdings in shares of BayCom by 41.6% in the 4th quarter. Wellington Management Group LLP now owns 930,498 shares of the company’s stock worth $24,975,000 after acquiring an additional 273,135 shares in the last quarter. Royce & Associates LP raised its position in BayCom by 11.1% in the 4th quarter. Royce & Associates LP now owns 603,286 shares of the company’s stock valued at $16,192,000 after purchasing an additional 60,075 shares during the last quarter. Citadel Advisors LLC acquired a new position in BayCom in the fourth quarter worth $732,000. JPMorgan Chase & Co. grew its holdings in shares of BayCom by 99.1% during the fourth quarter. JPMorgan Chase & Co. now owns 44,455 shares of the company’s stock worth $1,193,000 after purchasing an additional 22,125 shares during the last quarter. Finally, Assenagon Asset Management S.A. acquired a new stake in shares of BayCom in the fourth quarter valued at $422,000. Institutional investors and hedge funds own 66.16% of the company’s stock.

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.