Short Interest in BayCom Corp (NASDAQ:BCML) Rises By 43.4%

BayCom Corp (NASDAQ:BCML) was the target of a large growth in short interest in December. As of December 31st, there was short interest totalling 53,200 shares, a growth of 43.4% from the December 15th total of 37,100 shares. Based on an average daily volume of 27,400 shares, the days-to-cover ratio is currently 1.9 days. Approximately 0.5% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

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

Institutional Trading of BayCom

Several institutional investors and hedge funds have recently made changes to their positions in BCML. Assenagon Asset Management S.A. purchased a new position in BayCom during the 4th quarter worth approximately $422,000. JPMorgan Chase & Co. boosted its holdings in shares of BayCom by 129.9% in the third quarter. JPMorgan Chase & Co. now owns 22,330 shares of the company’s stock valued at $530,000 after acquiring an additional 12,617 shares during the period. Barclays PLC grew its position in shares of BayCom by 61.3% during 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 last quarter. State Street Corp grew its position in shares of BayCom by 0.5% during the third quarter. State Street Corp now owns 163,965 shares of the company’s stock worth $3,906,000 after acquiring an additional 880 shares during the last quarter. Finally, Captrust Financial Advisors increased its holdings in shares of BayCom by 4.4% in the 3rd quarter. Captrust Financial Advisors now owns 23,361 shares of the company’s stock valued at $554,000 after acquiring an additional 978 shares during the period. 66.16% of the stock is owned by hedge funds and other institutional investors.

BayCom Stock Down 1.4 %

Shares of BCML traded down $0.37 during mid-day trading on Thursday, reaching $26.42. The company’s stock had a trading volume of 44,280 shares, compared to its average volume of 28,408. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.04 and a quick ratio of 1.04. BayCom has a 12-month low of $18.54 and a 12-month high of $30.13. The stock has a market cap of $293.79 million, a PE ratio of 12.58 and a beta of 0.80. The company’s 50 day moving average is $27.51 and its 200 day moving average is $24.55.

BayCom (NASDAQ:BCML) last announced its quarterly earnings results on Thursday, October 17th. The company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.47 by $0.07. The company had revenue of $25.61 million for the quarter, compared to analyst estimates of $23.70 million. BayCom had a net margin of 17.22% and a return on equity of 7.56%. Equities analysts anticipate that BayCom will post 2.06 EPS for the current fiscal year.

BayCom Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Thursday, December 12th were given a dividend of $0.15 per share. The ex-dividend date was Thursday, December 12th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.27%. This is a boost from BayCom’s previous quarterly dividend of $0.10. BayCom’s payout ratio is 28.57%.

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.