BayCom Corp (NASDAQ:BCML) Sees Large Increase in Short Interest

BayCom Corp (NASDAQ:BCMLGet Free Report) was the recipient of a large increase in short interest during the month of February. As of February 29th, there was short interest totalling 63,000 shares, an increase of 34.0% from the February 14th total of 47,000 shares. Based on an average daily volume of 23,800 shares, the days-to-cover ratio is presently 2.6 days.

BayCom Price Performance

Shares of BCML stock traded up $0.05 during midday trading on Thursday, reaching $19.96. 36,982 shares of the company were exchanged, compared to its average volume of 20,290. The company’s 50 day moving average price is $20.70 and its two-hundred day moving average price is $20.63. The company has a market cap of $230.54 million, a P/E ratio of 8.87 and a beta of 0.76. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.06 and a current ratio of 1.06. BayCom has a 12 month low of $15.02 and a 12 month high of $24.31.

BayCom (NASDAQ:BCMLGet Free Report) last released its earnings results on Thursday, January 25th. The company reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.02). The firm had revenue of $26.20 million during the quarter, compared to analysts’ expectations of $25.90 million. BayCom had a return on equity of 8.82% and a net margin of 20.33%. On average, sell-side analysts expect that BayCom will post 2.26 earnings per share for the current year.

BayCom Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 12th. Stockholders of record on Saturday, March 16th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 2.00%. The ex-dividend date is Thursday, March 14th. BayCom’s dividend payout ratio (DPR) is currently 17.78%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wellington Management Group LLP grew its position in BayCom by 23.6% during the first quarter. Wellington Management Group LLP now owns 1,062,651 shares of the company’s stock valued at $18,150,000 after purchasing an additional 202,758 shares in the last quarter. BlackRock Inc. grew its position in BayCom by 39.5% during the second quarter. BlackRock Inc. now owns 952,276 shares of the company’s stock valued at $15,884,000 after purchasing an additional 269,741 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in BayCom by 0.6% in the first quarter. The Manufacturers Life Insurance Company now owns 715,403 shares of the company’s stock valued at $15,574,000 after acquiring an additional 4,503 shares during the last quarter. Royce & Associates LP lifted its stake in BayCom by 4.6% in the first quarter. Royce & Associates LP now owns 677,981 shares of the company’s stock valued at $11,580,000 after acquiring an additional 29,900 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in BayCom by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 666,164 shares of the company’s stock valued at $15,715,000 after acquiring an additional 2,224 shares during the last quarter. 57.09% of the stock is owned by hedge funds and other institutional investors.

About BayCom

(Get Free Report)

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 also 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.

Further Reading

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