Short Interest in BayCom Corp (NASDAQ:BCML) Grows By 8.8%

BayCom Corp (NASDAQ:BCML) was the target of a large growth in short interest in June. As of June 15th, there was short interest totalling 43,400 shares, a growth of 8.8% from the May 31st total of 39,900 shares. Approximately 0.4% of the shares of the stock are short sold. Based on an average trading volume of 22,200 shares, the days-to-cover ratio is presently 2.0 days.

BayCom Trading Down 0.5 %

NASDAQ:BCML traded down $0.10 during trading hours on Tuesday, hitting $20.30. 2,420 shares of the stock were exchanged, compared to its average volume of 23,397. The company’s 50 day moving average is $19.87 and its two-hundred day moving average is $20.53. BayCom has a twelve month low of $16.28 and a twelve month 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 has a market capitalization of $228.38 million, a P/E ratio of 9.23 and a beta of 0.77.

BayCom (NASDAQ:BCML) last posted its quarterly earnings data on Thursday, April 18th. The company reported $0.51 earnings per share (EPS) 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 analyst estimates of $24.80 million. On average, sell-side analysts anticipate that BayCom will post 1.98 earnings per share for the current fiscal year.

BayCom Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Thursday, June 13th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date of this dividend is Thursday, June 13th. BayCom’s dividend payout ratio (DPR) is currently 18.10%.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Quadrature Capital Ltd bought a new stake in shares of BayCom in the 1st quarter valued at $465,000. Acadian Asset Management LLC increased its position in shares of BayCom by 1.1% in the 1st quarter. Acadian Asset Management LLC now owns 198,360 shares of the company’s stock valued at $4,086,000 after buying an additional 2,191 shares in the last quarter. Vanguard Group Inc. increased its position in shares of BayCom by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 668,965 shares of the company’s stock valued at $13,787,000 after buying an additional 2,801 shares in the last quarter. Empowered Funds LLC increased its position in shares of BayCom by 7.8% in the 1st quarter. Empowered Funds LLC now owns 29,027 shares of the company’s stock valued at $598,000 after buying an additional 2,100 shares in the last quarter. Finally, LSV Asset Management increased its position in shares of BayCom by 17.8% in the 1st quarter. LSV Asset Management now owns 35,807 shares of the company’s stock valued at $738,000 after buying an additional 5,399 shares in the last quarter. Institutional investors and hedge funds own 66.16% of the company’s stock.

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.