BayCom Corp (NASDAQ:BCML) Short Interest Update

BayCom Corp (NASDAQ:BCML) saw a significant decline in short interest in January. As of January 31st, there was short interest totalling 51,700 shares, a decline of 12.7% from the January 15th total of 59,200 shares. Based on an average daily volume of 30,600 shares, the days-to-cover ratio is presently 1.7 days. Currently, 0.5% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

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

BayCom Price Performance

Shares of BCML stock traded down $0.18 on Monday, reaching $28.02. The company’s stock had a trading volume of 11,107 shares, compared to its average volume of 29,574. The company has a market capitalization of $311.58 million, a P/E ratio of 13.34 and a beta of 0.81. BayCom has a 12-month low of $18.54 and a 12-month high of $30.13. The stock’s 50 day simple moving average is $27.42 and its 200-day simple moving average is $25.45. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.22.

BayCom (NASDAQ:BCML) last released its quarterly earnings results on Thursday, January 23rd. The company reported $0.55 earnings per share for the quarter, beating 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%. As a group, equities analysts predict that BayCom will post 2.48 earnings per share for the current fiscal year.

BayCom Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Thursday, December 12th were given a dividend of $0.15 per share. The ex-dividend date was Thursday, December 12th. This is a positive change from BayCom’s previous quarterly dividend of $0.10. This represents a $0.60 annualized dividend and a yield of 2.14%. BayCom’s payout ratio is presently 28.57%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP boosted its stake 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 valued at $24,975,000 after purchasing an additional 273,135 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in BayCom by 2.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 615,795 shares of the company’s stock worth $16,528,000 after purchasing an additional 13,269 shares during the last quarter. Royce & Associates LP boosted its position in BayCom by 11.1% during the fourth quarter. Royce & Associates LP now owns 603,286 shares of the company’s stock valued at $16,192,000 after buying an additional 60,075 shares during the period. Alliancebernstein L.P. grew its stake in shares of BayCom by 0.3% during the fourth quarter. Alliancebernstein L.P. now owns 434,799 shares of the company’s stock valued at $11,670,000 after buying an additional 1,500 shares during the last quarter. Finally, State Street Corp increased its holdings in shares of BayCom by 0.5% in the third quarter. State Street Corp now owns 163,965 shares of the company’s stock worth $3,906,000 after buying an additional 880 shares during the period. 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.