BayCom Corp (NASDAQ:BCML) Short Interest Up 7.3% in August

BayCom Corp (NASDAQ:BCML) saw a large increase in short interest in the month of August. As of August 31st, there was short interest totalling 47,000 shares, an increase of 7.3% from the August 15th total of 43,800 shares. Currently, 0.5% of the shares of the stock are sold short. Based on an average daily volume of 22,500 shares, the short-interest ratio is presently 2.1 days.

Wall Street Analyst Weigh In

Separately, Hovde Group initiated coverage on BayCom in a research note on Friday, July 12th. They set an “outperform” rating and a $24.00 price objective on the stock.

BayCom Trading Up 1.9 %

NASDAQ:BCML traded up $0.44 on Wednesday, reaching $23.89. 5,846 shares of the stock traded hands, compared to its average volume of 22,584. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.23. BayCom has a 1-year low of $18.54 and a 1-year high of $25.04. The company’s 50 day moving average is $22.55 and its 200-day moving average is $20.85. The firm has a market capitalization of $268.71 million, a price-to-earnings ratio of 10.61 and a beta of 0.77.

BayCom (NASDAQ:BCML) last announced its quarterly earnings results on Thursday, July 18th. The company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.48 by $0.02. The firm had revenue of $33.89 million during the quarter, compared to the consensus estimate of $23.80 million. BayCom had a net margin of 17.88% and a return on equity of 7.84%. Equities research analysts anticipate that BayCom will post 2.04 EPS for the current fiscal year.

BayCom Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Thursday, September 19th will be paid a $0.10 dividend. The ex-dividend date is Thursday, September 19th. This represents a $0.40 dividend on an annualized basis and a yield of 1.67%. BayCom’s payout ratio is presently 18.10%.

Institutional Trading of BayCom

Institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted 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 valued at $13,787,000 after acquiring an additional 2,801 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of BayCom by 2.7% in the 2nd 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 during the period. Acadian Asset Management LLC grew its holdings 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 acquiring an additional 11,484 shares during the period. Renaissance Technologies LLC raised its holdings in shares of BayCom by 3.2% in the second quarter. Renaissance Technologies LLC now owns 80,500 shares of the company’s stock worth $1,638,000 after acquiring an additional 2,500 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in BayCom by 3.1% in 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. 66.16% of the stock is currently owned by institutional investors.

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.