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

BayCom Corp (NASDAQ:BCML) was the recipient of a significant decline in short interest in the month of 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. Approximately 0.5% of the shares of the company are short sold.

BayCom Trading Down 0.6 %

Shares of NASDAQ BCML traded down $0.18 during trading on Monday, hitting $28.02. 11,107 shares of the company were exchanged, compared to its average volume of 29,574. The company has a fifty day moving average price of $27.42 and a 200-day moving average price of $25.45. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.04 and a current ratio of 1.04. The firm has a market capitalization of $311.58 million, a PE 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.

BayCom (NASDAQ:BCML) last issued its quarterly earnings data on Thursday, January 23rd. The company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates 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 research analysts expect that BayCom will post 2.48 EPS for the current year.

BayCom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Thursday, December 12th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Thursday, December 12th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.14%. This is a positive change from BayCom’s previous quarterly dividend of $0.10. BayCom’s dividend payout ratio (DPR) is currently 28.57%.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On BayCom

A number of large investors have recently bought and sold shares of the company. PNC Financial Services Group Inc. increased its stake in BayCom by 46.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,347 shares of the company’s stock valued at $36,000 after purchasing an additional 428 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in BayCom by 3,097.3% during the 4th quarter. Russell Investments Group Ltd. now owns 3,613 shares of the company’s stock valued at $97,000 after acquiring an additional 3,500 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of BayCom in the fourth quarter valued at about $120,000. Wells Fargo & Company MN grew its position in shares of BayCom by 27.8% in the fourth quarter. Wells Fargo & Company MN now owns 6,141 shares of the company’s stock valued at $165,000 after purchasing an additional 1,337 shares during the last quarter. Finally, Deutsche Bank AG increased its stake in shares of BayCom by 31.1% during the 4th quarter. Deutsche Bank AG now owns 6,444 shares of the company’s stock worth $173,000 after purchasing an additional 1,529 shares in the last quarter. Hedge funds and other 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.