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

BayCom Corp (NASDAQ:BCML) was the recipient of a large increase in short interest in the month of June. As of June 15th, there was short interest totalling 43,400 shares, an increase of 8.8% from the May 31st total of 39,900 shares. Approximately 0.4% of the shares of the stock are short sold. Based on an average daily volume of 22,200 shares, the short-interest ratio is presently 2.0 days.

BayCom Stock Down 0.4 %

Shares of NASDAQ:BCML opened at $20.08 on Thursday. The firm has a fifty day moving average price of $19.87 and a two-hundred day moving average price of $20.51. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.05 and a quick ratio of 1.05. BayCom has a one year low of $16.28 and a one year high of $24.31. The company has a market cap of $225.90 million, a price-to-earnings ratio of 9.09 and a beta of 0.77.

BayCom (NASDAQ:BCML) last posted its quarterly earnings data on Thursday, April 18th. The company reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.05). BayCom had a return on equity of 8.41% and a net margin of 19.27%. The company had revenue of $24.47 million for the quarter, compared to the consensus estimate of $24.80 million. Analysts anticipate that BayCom will post 1.98 EPS for the current fiscal year.

BayCom Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Thursday, June 13th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date is Thursday, June 13th. BayCom’s dividend payout ratio is currently 18.10%.

Institutional Trading of BayCom

A number of hedge funds have recently made changes to their positions in the stock. Quadrature Capital Ltd bought a new stake in shares of BayCom during the 1st quarter worth $465,000. Acadian Asset Management LLC lifted its holdings in shares of BayCom by 1.1% during the 1st quarter. Acadian Asset Management LLC now owns 198,360 shares of the company’s stock worth $4,086,000 after acquiring an additional 2,191 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of BayCom by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 668,965 shares of the company’s stock worth $13,787,000 after acquiring an additional 2,801 shares during the last quarter. Empowered Funds LLC lifted its holdings in shares of BayCom by 7.8% during the 1st quarter. Empowered Funds LLC now owns 29,027 shares of the company’s stock worth $598,000 after acquiring an additional 2,100 shares during the last quarter. Finally, LSV Asset Management lifted its holdings in shares of BayCom by 17.8% during the 1st quarter. LSV Asset Management now owns 35,807 shares of the company’s stock worth $738,000 after acquiring an additional 5,399 shares during the last quarter. 66.16% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Hovde Group started coverage on shares of BayCom in a report on Monday, April 22nd. They issued an “outperform” rating and a $24.00 price target for the company.

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.