Short Interest in BayCom Corp (NASDAQ:BCML) Expands By 7.3%

BayCom Corp (NASDAQ:BCML) saw a significant growth in short interest in August. As of August 31st, there was short interest totalling 47,000 shares, a growth of 7.3% from the August 15th total of 43,800 shares. Currently, 0.5% of the shares of the stock are short sold. Based on an average trading volume of 22,500 shares, the short-interest ratio is currently 2.1 days.

Analyst Upgrades and Downgrades

Separately, Hovde Group started coverage on shares of BayCom in a research note on Friday, July 12th. They issued an “outperform” rating and a $24.00 price target on the stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in BayCom by 0.4% during the first quarter. Vanguard Group Inc. now owns 668,965 shares of the company’s stock valued at $13,787,000 after purchasing an additional 2,801 shares during the period. BNP Paribas Financial Markets raised 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 buying an additional 5,106 shares during the period. Quadrature Capital Ltd bought a new stake in BayCom in the first quarter worth $465,000. Empowered Funds LLC boosted its stake in BayCom by 7.8% during the first quarter. Empowered Funds LLC now owns 29,027 shares of the company’s stock worth $598,000 after buying an additional 2,100 shares during the period. Finally, LSV Asset Management increased its position in BayCom by 17.8% during the first quarter. LSV Asset Management now owns 35,807 shares of the company’s stock valued at $738,000 after acquiring an additional 5,399 shares during the last quarter. Institutional investors own 66.16% of the company’s stock.

BayCom Price Performance

Shares of BayCom stock opened at $23.30 on Tuesday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.23. BayCom has a 12 month low of $18.54 and a 12 month high of $25.04. The stock has a 50 day moving average of $22.41 and a 200 day moving average of $20.80. The firm has a market cap of $260.03 million, a PE ratio of 10.54 and a beta of 0.77.

BayCom (NASDAQ:BCML) last posted its earnings results on Thursday, July 18th. The company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. BayCom had a return on equity of 7.84% and a net margin of 17.88%. The firm had revenue of $33.89 million during the quarter, compared to the consensus estimate of $23.80 million. On average, research analysts expect that BayCom will post 2.04 EPS for the current fiscal year.

BayCom Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Thursday, September 19th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.72%. The ex-dividend date of this dividend is Thursday, September 19th. BayCom’s dividend payout ratio is 18.10%.

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.