BayCom Corp (NASDAQ:BCML) Sees Significant Growth in Short Interest

BayCom Corp (NASDAQ:BCML) was the recipient of a large increase in short interest in November. As of November 15th, there was short interest totalling 43,600 shares, an increase of 13.5% from the October 31st total of 38,400 shares. Based on an average daily trading volume, of 21,400 shares, the days-to-cover ratio is currently 2.0 days. Currently, 0.4% of the shares of the stock are sold short.

Institutional Trading of BayCom

A number of institutional investors and hedge funds have recently modified their holdings of the business. Panagora Asset Management Inc. bought a new position in BayCom during the 2nd quarter valued at about $211,000. Martingale Asset Management L P raised 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. Captrust Financial Advisors lifted its position in 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 purchasing an additional 978 shares during the period. Barclays PLC boosted its holdings in BayCom by 61.3% in the third quarter. Barclays PLC now owns 27,486 shares of the company’s stock worth $651,000 after purchasing an additional 10,442 shares during the last quarter. Finally, Empowered Funds LLC grew its position in BayCom by 5.2% in the 3rd quarter. Empowered Funds LLC now owns 32,795 shares of the company’s stock worth $778,000 after purchasing an additional 1,608 shares during the period. Institutional investors own 66.16% of the company’s stock.

BayCom Trading Up 0.4 %

Shares of NASDAQ:BCML traded up $0.11 on Tuesday, hitting $29.10. The company had a trading volume of 9,825 shares, compared to its average volume of 22,760. The firm has a market capitalization of $323.59 million, a price-to-earnings ratio of 13.80 and a beta of 0.79. The firm’s 50-day simple moving average is $25.51 and its two-hundred day simple moving average is $22.88. BayCom has a 1 year low of $18.54 and a 1 year 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 released its quarterly earnings data on Thursday, October 17th. The company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.07. BayCom had a net margin of 17.22% and a return on equity of 7.56%. The business had revenue of $25.61 million during the quarter, compared to analyst estimates of $23.70 million. Equities analysts anticipate that BayCom will post 2.06 earnings per share for the current fiscal year.

BayCom Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Thursday, December 12th will be given a $0.15 dividend. The ex-dividend date is Thursday, December 12th. This is a boost from BayCom’s previous quarterly dividend of $0.10. This represents a $0.60 annualized dividend and a yield of 2.06%. BayCom’s dividend payout ratio is 19.05%.

Analysts Set New Price Targets

Separately, Hovde Group upped their price objective 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.