State Street Corp Boosts Holdings in BayCom Corp (NASDAQ:BCML)

State Street Corp lifted its stake in shares of BayCom Corp (NASDAQ:BCML) by 0.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 163,965 shares of the company’s stock after purchasing an additional 880 shares during the period. State Street Corp owned about 1.47% of BayCom worth $3,906,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of BCML. Captrust Financial Advisors raised its holdings in shares of BayCom by 4.4% during 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 during the last quarter. Martingale Asset Management L P lifted its holdings in BayCom by 20.1% in the 3rd quarter. Martingale Asset Management L P now owns 23,341 shares of the company’s stock valued at $554,000 after purchasing an additional 3,900 shares in the last quarter. Empowered Funds LLC lifted its stake in shares of BayCom by 5.2% in the third quarter. Empowered Funds LLC now owns 32,795 shares of the company’s stock worth $778,000 after buying an additional 1,608 shares in the last quarter. Royce & Associates LP boosted its position in BayCom by 11.5% during the third quarter. Royce & Associates LP now owns 543,211 shares of the company’s stock worth $12,885,000 after acquiring an additional 56,066 shares during the last quarter. Finally, Caldwell Sutter Capital Inc. boosted its position in BayCom by 3.4% during the third quarter. Caldwell Sutter Capital Inc. now owns 84,047 shares of the company’s stock worth $1,994,000 after acquiring an additional 2,800 shares during the last quarter. Institutional investors and hedge funds own 66.16% of the company’s stock.

BayCom Stock Performance

NASDAQ:BCML opened at $26.70 on Tuesday. BayCom Corp has a fifty-two week low of $18.54 and a fifty-two week high of $30.13. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.04 and a current ratio of 1.04. The company has a 50 day moving average price of $27.20 and a 200 day moving average price of $23.98. The stock has a market capitalization of $296.93 million, a P/E ratio of 12.71 and a beta of 0.79.

BayCom (NASDAQ:BCML) last posted its quarterly earnings data on Thursday, October 17th. The company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.47 by $0.07. The business had revenue of $25.61 million during 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 research analysts forecast that BayCom Corp will post 2.06 EPS for the current year.

BayCom Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Thursday, December 12th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.25%. This is a positive change from BayCom’s previous quarterly dividend of $0.10. The ex-dividend date is Thursday, December 12th. BayCom’s dividend payout ratio is presently 28.57%.

Analyst Ratings Changes

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

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.