Assenagon Asset Management S.A. Invests $422,000 in BayCom Corp (NASDAQ:BCML)

Assenagon Asset Management S.A. purchased a new stake in BayCom Corp (NASDAQ:BCML) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 15,711 shares of the company’s stock, valued at approximately $422,000. Assenagon Asset Management S.A. owned 0.14% of BayCom at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in BCML. Dimensional Fund Advisors LP raised its position in BayCom by 2.7% during the second quarter. Dimensional Fund Advisors LP now owns 594,015 shares of the company’s stock valued at $12,088,000 after purchasing an additional 15,798 shares in the last quarter. Renaissance Technologies LLC raised its position in BayCom by 3.2% in the 2nd quarter. Renaissance Technologies LLC now owns 80,500 shares of the company’s stock worth $1,638,000 after purchasing an additional 2,500 shares during the period. Caldwell Sutter Capital Inc. lifted its stake in BayCom by 3.4% in the third quarter. Caldwell Sutter Capital Inc. now owns 84,047 shares of the company’s stock worth $1,994,000 after purchasing an additional 2,800 shares during the last quarter. Royce & Associates LP grew its stake in shares of BayCom by 11.5% during the third quarter. Royce & Associates LP now owns 543,211 shares of the company’s stock valued at $12,885,000 after buying an additional 56,066 shares during the last quarter. Finally, Empowered Funds LLC increased its holdings 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 during the period. 66.16% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

BayCom Trading Up 2.2 %

Shares of BCML opened at $27.43 on Friday. The stock has a market capitalization of $305.05 million, a P/E ratio of 13.06 and a beta of 0.80. BayCom Corp has a twelve month low of $18.54 and a twelve month high of $30.13. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.22. The firm has a fifty day simple moving average of $27.47 and a two-hundred day simple moving average of $24.89.

BayCom (NASDAQ:BCML) last announced its earnings results on Thursday, January 23rd. The company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. BayCom had a return on equity of 7.56% and a net margin of 17.22%. On average, research analysts anticipate that BayCom Corp will post 2.06 EPS for the current 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 paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date was Thursday, December 12th. This is a boost from BayCom’s previous quarterly dividend of $0.10. BayCom’s dividend payout ratio (DPR) is presently 28.57%.

BayCom 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.