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

BayCom Corp (NASDAQ:BCML) was the target of a significant growth in short interest during the month of November. As of November 15th, there was short interest totalling 43,600 shares, a growth of 13.5% from the October 31st total of 38,400 shares. Approximately 0.4% of the shares of the company are sold short. Based on an average daily volume of 21,400 shares, the short-interest ratio is currently 2.0 days.

Institutional Trading of BayCom

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Panagora Asset Management Inc. purchased a new position in shares of BayCom during the 2nd quarter valued at $211,000. Martingale Asset Management L P raised its holdings in BayCom by 20.1% during the third quarter. Martingale Asset Management L P now owns 23,341 shares of the company’s stock valued at $554,000 after acquiring an additional 3,900 shares during the period. Captrust Financial Advisors lifted its position in shares of BayCom by 4.4% in the third quarter. Captrust Financial Advisors now owns 23,361 shares of the company’s stock valued at $554,000 after acquiring an additional 978 shares in the last quarter. Barclays PLC boosted its stake in shares of BayCom by 61.3% in the third quarter. Barclays PLC now owns 27,486 shares of the company’s stock worth $651,000 after acquiring an additional 10,442 shares during the period. Finally, Empowered Funds LLC grew its position in shares of BayCom by 5.2% during the third quarter. Empowered Funds LLC now owns 32,795 shares of the company’s stock worth $778,000 after purchasing an additional 1,608 shares in the last quarter. 66.16% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Hovde Group boosted their target price on shares of BayCom from $26.00 to $28.00 and gave the company an “outperform” rating in a research report on Friday, October 18th.

BayCom Stock Performance

Shares of NASDAQ:BCML traded up $0.11 during midday trading on Tuesday, hitting $29.10. The company had a trading volume of 9,825 shares, compared to its average volume of 22,760. The company has a market cap of $323.59 million, a price-to-earnings ratio of 13.80 and a beta of 0.79. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.04 and a quick ratio of 1.04. The company has a fifty day moving average of $25.51 and a two-hundred day moving average of $22.88. BayCom has a 12-month low of $18.54 and a 12-month high of $30.13.

BayCom (NASDAQ:BCML) last posted its quarterly earnings data on Thursday, October 17th. The company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.47 by $0.07. The firm had revenue of $25.61 million for the quarter, compared to the consensus estimate of $23.70 million. BayCom had a return on equity of 7.56% and a net margin of 17.22%. On average, equities research analysts expect that BayCom will post 2.06 EPS for the current fiscal year.

BayCom Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Thursday, December 12th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Thursday, December 12th. This represents a $0.60 annualized dividend and a yield of 2.06%. This is an increase from BayCom’s previous quarterly dividend of $0.10. BayCom’s payout ratio is currently 19.05%.

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.