BayCom Corp (NASDAQ:BCML) Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp boosted its position in shares of BayCom Corp (NASDAQ:BCML) by 3.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,509 shares of the company’s stock after buying an additional 1,380 shares during the period. Bank of New York Mellon Corp owned 0.40% of BayCom worth $926,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of BayCom by 0.4% during the first quarter. Vanguard Group Inc. now owns 668,965 shares of the company’s stock worth $13,787,000 after purchasing an additional 2,801 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in shares of BayCom by 46.8% during the fourth quarter. BNP Paribas Financial Markets now owns 16,012 shares of the company’s stock worth $378,000 after buying an additional 5,106 shares in the last quarter. Quadrature Capital Ltd purchased a new stake in shares of BayCom during the first quarter worth $465,000. Empowered Funds LLC raised its position in shares of BayCom by 7.8% in the first quarter. Empowered Funds LLC now owns 29,027 shares of the company’s stock valued at $598,000 after buying an additional 2,100 shares during the last quarter. Finally, LSV Asset Management lifted its stake in shares of BayCom by 17.8% in the first quarter. LSV Asset Management now owns 35,807 shares of the company’s stock worth $738,000 after buying an additional 5,399 shares in the last quarter. Institutional investors and hedge funds own 66.16% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Hovde Group began coverage on shares of BayCom in a report on Friday, July 12th. They issued an “outperform” rating and a $24.00 price objective for the company.

BayCom Price Performance

NASDAQ:BCML opened at $23.77 on Friday. BayCom Corp has a one year low of $18.54 and a one year high of $25.04. The stock has a market cap of $267.36 million, a PE ratio of 10.76 and a beta of 0.77. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a 50 day moving average price of $22.73 and a 200 day moving average price of $20.93.

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

BayCom Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Thursday, September 19th will be issued a $0.10 dividend. The ex-dividend date is Thursday, September 19th. This represents a $0.40 annualized dividend and a yield of 1.68%. BayCom’s payout ratio is 18.10%.

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.