Short Interest in BayCom Corp (NASDAQ:BCML) Increases By 26.9%

BayCom Corp (NASDAQ:BCML) saw a significant growth in short interest in the month of March. As of March 31st, there was short interest totalling 62,700 shares, a growth of 26.9% from the March 15th total of 49,400 shares. Based on an average daily volume of 23,700 shares, the days-to-cover ratio is currently 2.6 days. Approximately 0.6% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

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

Insider Transactions at BayCom

In related news, CEO George J. Guarini sold 27,000 shares of BayCom stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $27.50, for a total value of $742,500.00. Following the completion of the sale, the chief executive officer now owns 46,759 shares of the company’s stock, valued at approximately $1,285,872.50. This trade represents a 36.61 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 7.20% of the stock is owned by insiders.

Institutional Investors Weigh In On BayCom

A number of institutional investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP lifted its position in shares of BayCom by 41.6% during the 4th quarter. Wellington Management Group LLP now owns 930,498 shares of the company’s stock worth $24,975,000 after buying an additional 273,135 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of BayCom by 2.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 615,795 shares of the company’s stock valued at $16,528,000 after acquiring an additional 13,269 shares during the last quarter. Royce & Associates LP lifted its holdings in BayCom by 11.1% during the fourth quarter. Royce & Associates LP now owns 603,286 shares of the company’s stock worth $16,192,000 after acquiring an additional 60,075 shares during the period. Alliancebernstein L.P. boosted its position in BayCom by 0.3% in the fourth quarter. Alliancebernstein L.P. now owns 434,799 shares of the company’s stock worth $11,670,000 after purchasing an additional 1,500 shares during the last quarter. Finally, State Street Corp grew its stake in BayCom by 0.5% in the 3rd quarter. State Street Corp now owns 163,965 shares of the company’s stock valued at $3,906,000 after purchasing an additional 880 shares during the period. 66.16% of the stock is owned by institutional investors.

BayCom Stock Performance

Shares of BayCom stock opened at $25.98 on Friday. BayCom has a 52 week low of $18.54 and a 52 week high of $30.13. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.22. The business has a 50 day moving average price of $25.99 and a 200-day moving average price of $26.48. The company has a market cap of $289.16 million, a PE ratio of 12.37 and a beta of 0.50.

BayCom (NASDAQ:BCML) last released its quarterly earnings results on Thursday, April 17th. The company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). BayCom had a net margin of 17.10% and a return on equity of 7.45%. The company had revenue of $32.65 million during the quarter, compared to analysts’ expectations of $24.07 million. Equities analysts anticipate that BayCom will post 2.48 earnings per share for the current fiscal year.

BayCom Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, April 10th. Investors of record on Thursday, March 13th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date of this dividend was Thursday, March 13th. BayCom’s payout ratio is currently 28.57%.

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.