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

BayCom Corp (NASDAQ:BCML) was the target of a large drop in short interest in the month of April. As of April 15th, there was short interest totalling 62,500 shares, a drop of 17.5% from the March 31st total of 75,800 shares. Based on an average trading volume of 24,800 shares, the short-interest ratio is presently 2.5 days.

Institutional Investors Weigh In On BayCom

Large investors have recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. acquired a new stake in BayCom during the 3rd quarter valued at $442,000. O Shaughnessy Asset Management LLC acquired a new stake in BayCom during the 3rd quarter valued at $281,000. SG Americas Securities LLC grew its holdings in BayCom by 13.4% during the 4th quarter. SG Americas Securities LLC now owns 6,204 shares of the company’s stock valued at $146,000 after purchasing an additional 732 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in BayCom by 46.8% during the 4th quarter. BNP Paribas Financial Markets now owns 16,012 shares of the company’s stock valued at $378,000 after purchasing an additional 5,106 shares in the last quarter. Finally, New York State Common Retirement Fund grew its holdings in BayCom by 55.8% during the 4th quarter. New York State Common Retirement Fund now owns 4,505 shares of the company’s stock valued at $106,000 after purchasing an additional 1,613 shares in the last quarter. 66.16% of the stock is owned by institutional investors and hedge funds.

BayCom Trading Up 0.2 %

Shares of BCML stock traded up $0.04 during mid-day trading on Friday, reaching $20.15. The company’s stock had a trading volume of 27,955 shares, compared to its average volume of 24,604. The company’s 50 day simple moving average is $20.00 and its 200-day simple moving average is $20.80. BayCom has a 12-month low of $15.02 and a 12-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 firm has a market capitalization of $231.12 million, a PE ratio of 9.12 and a beta of 0.76.

BayCom (NASDAQ:BCML) last issued its earnings results on Thursday, January 25th. The company reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.02). BayCom had a net margin of 19.27% and a return on equity of 8.45%. The business had revenue of $26.20 million during the quarter, compared to analysts’ expectations of $25.90 million. On average, research analysts predict that BayCom will post 1.98 EPS for the current fiscal year.

BayCom Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Saturday, March 16th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date of this dividend was Thursday, March 14th. BayCom’s payout ratio is 18.10%.

Wall Street Analysts Forecast Growth

Separately, Hovde Group started coverage on shares of BayCom in a research note on Monday, April 22nd. They issued an “outperform” rating and a $24.00 target price on the 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.