Short Interest in BayCom Corp (NASDAQ:BCML) Decreases By 23.0%

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

BayCom Stock Performance

Shares of NASDAQ:BCML traded down $0.41 on Friday, hitting $26.77. 27,079 shares of the company were exchanged, compared to its average volume of 23,982. The company’s 50 day moving average price is $27.16 and its two-hundred day moving average price is $23.87. The firm has a market capitalization of $297.71 million, a price-to-earnings ratio of 12.75 and a beta of 0.79. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.04 and a current ratio of 1.04. BayCom has a one year low of $18.54 and a one year high of $30.13.

BayCom (NASDAQ:BCML) last issued its quarterly earnings results on Thursday, October 17th. The company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $23.70 million. Research analysts expect that BayCom will post 2.06 earnings per share for the current year.

BayCom Increases Dividend

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

Analysts Set New Price Targets

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

Institutional Investors Weigh In On BayCom

Several institutional investors and hedge funds have recently bought and sold shares of the business. Royce & Associates LP boosted its position in shares of BayCom by 11.5% during the 3rd quarter. Royce & Associates LP now owns 543,211 shares of the company’s stock valued at $12,885,000 after acquiring an additional 56,066 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of BayCom by 2.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 594,015 shares of the company’s stock worth $12,088,000 after buying an additional 15,798 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of BayCom by 129.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 22,330 shares of the company’s stock worth $530,000 after buying an additional 12,617 shares during the period. Acadian Asset Management LLC boosted its stake in BayCom by 5.8% in the 2nd quarter. Acadian Asset Management LLC now owns 209,844 shares of the company’s stock valued at $4,268,000 after buying an additional 11,484 shares in the last quarter. Finally, Barclays PLC grew its position in BayCom by 61.3% in the third quarter. Barclays PLC now owns 27,486 shares of the company’s stock valued at $651,000 after acquiring an additional 10,442 shares during the period. Institutional investors 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.