BayCom Corp (NASDAQ:BCML) Short Interest Update

BayCom Corp (NASDAQ:BCML) saw a large drop in short interest during the month of October. As of October 31st, there was short interest totalling 38,400 shares, a drop of 9.6% from the October 15th total of 42,500 shares. Based on an average trading volume of 20,800 shares, the days-to-cover ratio is currently 1.8 days. Approximately 0.4% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On BayCom

Hedge funds have recently bought and sold shares of the company. Barclays PLC boosted its holdings in BayCom by 61.3% in the 3rd quarter. Barclays PLC now owns 27,486 shares of the company’s stock valued at $651,000 after purchasing an additional 10,442 shares during the period. State Street Corp raised its position 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 in the last quarter. Captrust Financial Advisors boosted its stake in BayCom by 4.4% during the third quarter. Captrust Financial Advisors now owns 23,361 shares of the company’s stock valued at $554,000 after buying an additional 978 shares during the period. Martingale Asset Management L P grew its position in BayCom by 20.1% during the third quarter. Martingale Asset Management L P now owns 23,341 shares of the company’s stock worth $554,000 after buying an additional 3,900 shares in the last quarter. Finally, Empowered Funds LLC increased its stake in BayCom by 5.2% in the 3rd quarter. Empowered Funds LLC now owns 32,795 shares of the company’s stock worth $778,000 after acquiring an additional 1,608 shares during the last quarter. Hedge funds and other institutional investors own 66.16% of the company’s stock.

BayCom Stock Performance

BayCom stock remained flat at $27.30 during mid-day trading on Monday. 1,934 shares of the company were exchanged, compared to its average volume of 22,652. The stock has a 50-day moving average of $24.34 and a two-hundred day moving average of $22.24. 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 has a fifty-two week low of $18.54 and a fifty-two week high of $28.62. The firm has a market cap of $303.60 million, a P/E ratio of 13.01 and a beta of 0.76.

BayCom (NASDAQ:BCML) last announced its quarterly earnings results on Thursday, October 17th. The company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.07. The company had revenue of $25.61 million during the quarter, compared to analysts’ expectations of $23.70 million. BayCom had a return on equity of 7.56% and a net margin of 17.22%. On average, research analysts predict that BayCom will post 2.06 EPS for the current fiscal year.

BayCom Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Thursday, September 19th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date of this dividend was Thursday, September 19th. BayCom’s payout ratio is 19.05%.

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.