JPMorgan Chase & Co. Boosts Holdings in BayCom Corp (NASDAQ:BCML)

JPMorgan Chase & Co. increased its holdings in BayCom Corp (NASDAQ:BCML) by 129.9% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 22,330 shares of the company’s stock after purchasing an additional 12,617 shares during the period. JPMorgan Chase & Co. owned approximately 0.20% of BayCom worth $530,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Royce & Associates LP grew its position in shares of BayCom by 11.5% in the 3rd quarter. Royce & Associates LP now owns 543,211 shares of the company’s stock worth $12,885,000 after buying an additional 56,066 shares during the period. Dimensional Fund Advisors LP boosted its stake in BayCom by 2.7% during the second quarter. Dimensional Fund Advisors LP now owns 594,015 shares of the company’s stock worth $12,088,000 after acquiring an additional 15,798 shares in the last quarter. Barclays PLC increased its stake in shares of BayCom by 61.3% during the third quarter. Barclays PLC now owns 27,486 shares of the company’s stock valued at $651,000 after purchasing an additional 10,442 shares in the last quarter. Martingale Asset Management L P lifted its holdings in shares of BayCom by 20.1% during the third 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 during the last quarter. Finally, Caldwell Sutter Capital Inc. boosted its position in shares of BayCom by 3.4% in the 3rd 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 in the last quarter. Institutional investors own 66.16% of the company’s stock.

Analysts Set New Price Targets

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

BayCom Stock Up 1.0 %

BCML stock opened at $28.22 on Wednesday. The business’s 50-day moving average price is $27.51 and its 200-day moving average price is $25.02. The stock has a market cap of $313.81 million, a P/E ratio of 13.44 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.

BayCom (NASDAQ:BCML) last announced its quarterly earnings results on Thursday, January 23rd. The company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. BayCom had a net margin of 17.22% and a return on equity of 7.56%. On average, equities research analysts forecast that BayCom Corp will post 2.06 EPS for the current year.

BayCom Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Thursday, December 12th were paid a dividend of $0.15 per share. This is an increase from BayCom’s previous quarterly dividend of $0.10. The ex-dividend date was Thursday, December 12th. This represents a $0.60 dividend on an annualized basis and a yield of 2.13%. BayCom’s dividend payout ratio is presently 28.57%.

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.