BayCom Corp (NASDAQ:BCML) Sees Large Increase in Short Interest

BayCom Corp (NASDAQ:BCML) was the recipient of a large increase in short interest in November. As of November 30th, there was short interest totalling 48,200 shares, an increase of 10.6% from the November 15th total of 43,600 shares. Approximately 0.5% of the shares of the company are sold short. Based on an average daily trading volume, of 22,800 shares, the short-interest ratio is currently 2.1 days.

BayCom Stock Performance

Shares of NASDAQ:BCML opened at $28.87 on Friday. The firm has a fifty day simple moving average of $26.51 and a two-hundred day simple moving average of $23.40. BayCom has a 52 week low of $18.54 and a 52 week 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 stock has a market capitalization of $321.06 million, a P/E ratio of 13.75 and a beta of 0.79.

BayCom (NASDAQ:BCML) last released its quarterly earnings results on Thursday, October 17th. The company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.47 by $0.07. BayCom had a return on equity of 7.56% and a net margin of 17.22%. The company had revenue of $25.61 million during the quarter, compared to analyst estimates of $23.70 million. On average, analysts expect that BayCom will post 2.06 earnings per share for the current fiscal year.

BayCom Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Thursday, December 12th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 2.08%. The ex-dividend date is Thursday, December 12th. This is a positive change from BayCom’s previous quarterly dividend of $0.10. BayCom’s dividend payout ratio is presently 28.57%.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of BCML. Bank of New York Mellon Corp raised its stake in shares of BayCom by 3.1% in the second quarter. Bank of New York Mellon Corp now owns 45,509 shares of the company’s stock valued at $926,000 after acquiring an additional 1,380 shares during the period. Panagora Asset Management Inc. purchased a new stake in BayCom in the 2nd quarter worth about $211,000. Acadian Asset Management LLC lifted its stake in BayCom by 5.8% in the second quarter. Acadian Asset Management LLC now owns 209,844 shares of the company’s stock worth $4,268,000 after purchasing an additional 11,484 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of 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 buying an additional 15,798 shares during the period. Finally, Renaissance Technologies LLC grew its stake in shares of BayCom by 3.2% during the second quarter. Renaissance Technologies LLC now owns 80,500 shares of the company’s stock valued at $1,638,000 after buying an additional 2,500 shares during the last quarter. 66.16% of the stock is owned by hedge funds and other institutional investors.

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.