BayCom Corp (NASDAQ:BCML) Shares Acquired by Bank of New York Mellon Corp

Bank of New York Mellon Corp lifted its holdings in shares of BayCom Corp (NASDAQ:BCML) by 3.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 45,509 shares of the company’s stock after purchasing an additional 1,380 shares during the quarter. Bank of New York Mellon Corp’s holdings in BayCom were worth $926,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BCML. Vanguard Group Inc. lifted its position in 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 buying an additional 2,801 shares during the last quarter. BNP Paribas Financial Markets raised its stake in shares of BayCom by 46.8% in the 4th quarter. BNP Paribas Financial Markets now owns 16,012 shares of the company’s stock valued at $378,000 after acquiring an additional 5,106 shares during the period. Quadrature Capital Ltd acquired a new position in shares of BayCom in the 1st quarter worth approximately $465,000. Empowered Funds LLC boosted its position in shares of BayCom by 7.8% during the 1st quarter. Empowered Funds LLC now owns 29,027 shares of the company’s stock worth $598,000 after purchasing an additional 2,100 shares during the period. Finally, LSV Asset Management increased its holdings in BayCom by 17.8% in the 1st quarter. LSV Asset Management now owns 35,807 shares of the company’s stock valued at $738,000 after purchasing an additional 5,399 shares during the last quarter. 66.16% of the stock is owned by institutional investors and hedge funds.

BayCom Stock Performance

Shares of BayCom stock opened at $23.77 on Friday. The stock has a market capitalization of $267.36 million, a price-to-earnings ratio of 10.76 and a beta of 0.77. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.04 and a quick ratio of 1.04. The business has a 50-day moving average of $22.73 and a 200 day moving average of $20.93. BayCom Corp has a 12 month low of $18.54 and a 12 month high of $25.04.

BayCom (NASDAQ:BCML) last posted its quarterly earnings data on Thursday, July 18th. The company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.48 by $0.02. The business had revenue of $33.89 million during the quarter, compared to analyst estimates of $23.80 million. BayCom had a net margin of 17.88% and a return on equity of 7.84%. As a group, sell-side analysts forecast that BayCom Corp will post 2.04 earnings per share for the current 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 of this dividend is Thursday, September 19th. This represents a $0.40 annualized dividend and a dividend yield of 1.68%. BayCom’s dividend payout ratio (DPR) is 18.10%.

Wall Street Analysts Forecast Growth

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

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.