BayCom Corp (NASDAQ:BCML) Short Interest Down 19.4% in February

BayCom Corp (NASDAQ:BCML) was the recipient of a large decline in short interest during the month of February. As of February 28th, there was short interest totalling 41,500 shares, a decline of 19.4% from the February 13th total of 51,500 shares. Based on an average daily volume of 27,400 shares, the short-interest ratio is currently 1.5 days. Approximately 0.4% of the company’s shares are short sold.

BayCom Stock Performance

Shares of BayCom stock opened at $25.69 on Thursday. The firm has a fifty day moving average of $27.00 and a two-hundred day moving average of $26.13. 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 stock has a market capitalization of $285.93 million, a price-to-earnings ratio of 12.23 and a beta of 0.82. BayCom has a 52 week low of $18.54 and a 52 week high of $30.13.

BayCom (NASDAQ:BCML) last released its quarterly earnings data on Thursday, January 23rd. The company reported $0.55 EPS 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 predict that BayCom will post 2.48 EPS for the current year.

BayCom Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Thursday, March 13th will be given a $0.15 dividend. The ex-dividend date is Thursday, March 13th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.34%. BayCom’s dividend payout ratio is 28.57%.

Analysts Set New Price Targets

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

Insider Buying and Selling

In related news, CEO George J. Guarini sold 27,000 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $27.50, for a total value of $742,500.00. Following the transaction, the chief executive officer now owns 46,759 shares in the company, valued at $1,285,872.50. This trade represents a 36.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 7.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. PNC Financial Services Group Inc. grew its holdings in shares of 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 buying an additional 428 shares during the period. Bridgeway Capital Management LLC increased its holdings in shares of BayCom by 0.7% in the fourth quarter. Bridgeway Capital Management LLC now owns 105,412 shares of the company’s stock worth $2,829,000 after acquiring an additional 704 shares in the last quarter. State Street Corp raised its position in shares of BayCom by 0.5% during the third quarter. State Street Corp now owns 163,965 shares of the company’s stock worth $3,906,000 after purchasing an additional 880 shares during the period. Captrust Financial Advisors raised its holdings in BayCom by 4.4% during the 3rd quarter. Captrust Financial Advisors now owns 23,361 shares of the company’s stock worth $554,000 after buying an additional 978 shares during the period. Finally, Nuveen Asset Management LLC lifted its stake in BayCom by 6.2% in the fourth quarter. Nuveen Asset Management LLC now owns 20,812 shares of the company’s stock valued at $559,000 after buying an additional 1,206 shares in the last quarter. Institutional investors and hedge funds own 66.16% of the company’s stock.

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.