Empowered Funds LLC Grows Stock Position in BayCom Corp (NASDAQ:BCML)

Empowered Funds LLC raised its holdings in BayCom Corp (NASDAQ:BCML) by 5.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,795 shares of the company’s stock after buying an additional 1,608 shares during the quarter. Empowered Funds LLC owned approximately 0.29% of BayCom worth $778,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of BayCom by 0.4% in the first 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. Quadrature Capital Ltd acquired a new position in shares of BayCom in the 1st quarter valued at $465,000. Bank of New York Mellon Corp grew its stake in shares of BayCom by 3.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 45,509 shares of the company’s stock valued at $926,000 after buying an additional 1,380 shares during the period. Panagora Asset Management Inc. acquired a new stake in shares of BayCom during the 2nd quarter worth $211,000. Finally, Acadian Asset Management LLC raised its position in shares of BayCom by 5.8% in the 2nd quarter. Acadian Asset Management LLC now owns 209,844 shares of the company’s stock worth $4,268,000 after buying an additional 11,484 shares during the period. Institutional investors and hedge funds own 66.16% of the company’s stock.

BayCom Stock Up 3.1 %

BCML opened at $28.43 on Friday. BayCom Corp has a 1 year low of $18.54 and a 1 year high of $28.62. The firm has a 50 day moving average price of $24.85 and a 200 day moving average price of $22.49. 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 market cap of $316.14 million, a PE ratio of 13.54 and a beta of 0.76.

BayCom (NASDAQ:BCML) last released its quarterly earnings data on Thursday, October 17th. The company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.07. The company 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%. Sell-side analysts expect that BayCom Corp will post 2.06 earnings per share for the current year.

BayCom Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Thursday, December 12th will be given a $0.15 dividend. The ex-dividend date is Thursday, December 12th. This is a positive change from BayCom’s previous quarterly dividend of $0.10. This represents a $0.60 annualized dividend and a yield of 2.11%. BayCom’s dividend payout ratio (DPR) is 19.05%.

Analyst Upgrades and Downgrades

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

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.