BayCom Corp (NASDAQ:BCML) Sees Large Decline in Short Interest

BayCom Corp (NASDAQ:BCML) was the recipient of a large decline in short interest in the month of May. As of May 31st, there was short interest totalling 39,900 shares, a decline of 35.2% from the May 15th total of 61,600 shares. Currently, 0.4% of the shares of the company are short sold. Based on an average daily volume of 24,800 shares, the short-interest ratio is presently 1.6 days.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. New York State Common Retirement Fund increased its stake in shares of BayCom by 55.8% in the 4th 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 during the last quarter. SG Americas Securities LLC grew its position in BayCom by 13.4% in the fourth quarter. SG Americas Securities LLC now owns 6,204 shares of the company’s stock valued at $146,000 after acquiring an additional 732 shares during the last quarter. O Shaughnessy Asset Management LLC bought a new position in shares of BayCom in the third quarter worth about $281,000. BNP Paribas Financial Markets lifted its holdings in shares of BayCom by 46.8% in the fourth quarter. BNP Paribas Financial Markets now owns 16,012 shares of the company’s stock worth $378,000 after acquiring an additional 5,106 shares during the last quarter. Finally, Quadrature Capital Ltd acquired a new stake in shares of BayCom in the 1st quarter valued at approximately $465,000. 66.16% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Hovde Group initiated coverage on shares of BayCom in a report on Monday, April 22nd. They set an “outperform” rating and a $24.00 target price on the stock.

BayCom Price Performance

Shares of NASDAQ:BCML traded down $0.06 during trading on Friday, reaching $19.25. 14,114 shares of the company traded hands, compared to its average volume of 17,263. The firm has a market capitalization of $216.56 million, a PE ratio of 8.71 and a beta of 0.76. BayCom has a 52 week low of $16.28 and a 52 week high of $24.31. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.23. The company’s 50 day moving average is $19.97 and its two-hundred day moving average is $20.71.

BayCom (NASDAQ:BCML) last posted its quarterly earnings data on Thursday, April 18th. The company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.05). BayCom had a return on equity of 8.41% and a net margin of 19.27%. The firm had revenue of $24.47 million for the quarter, compared to the consensus estimate of $24.80 million. As a group, sell-side analysts predict that BayCom will post 1.98 earnings per share for the current year.

BayCom Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Investors of record on Thursday, June 13th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $0.40 annualized dividend and a dividend yield of 2.08%. BayCom’s dividend payout ratio is 18.10%.

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.