The Manufacturers Life Insurance Company Has $9.85 Million Stake in BayCom Corp (NASDAQ:BCML)

The Manufacturers Life Insurance Company lessened its holdings in shares of BayCom Corp (NASDAQ:BCML) by 3.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 415,271 shares of the company’s stock after selling 12,721 shares during the period. The Manufacturers Life Insurance Company’s holdings in BayCom were worth $9,850,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Panagora Asset Management Inc. bought a new position in BayCom during the 2nd quarter worth $211,000. Empowered Funds LLC raised its stake in BayCom by 5.2% in the third quarter. Empowered Funds LLC now owns 32,795 shares of the company’s stock valued at $778,000 after purchasing an additional 1,608 shares in the last quarter. Bank of New York Mellon Corp lifted its position in BayCom by 3.1% during the second quarter. Bank of New York Mellon Corp now owns 45,509 shares of the company’s stock worth $926,000 after purchasing an additional 1,380 shares during the period. Renaissance Technologies LLC grew its stake in BayCom by 3.2% during the second quarter. Renaissance Technologies LLC now owns 80,500 shares of the company’s stock worth $1,638,000 after buying an additional 2,500 shares in the last quarter. Finally, Caldwell Sutter Capital Inc. increased its holdings in BayCom by 3.4% in the 3rd quarter. Caldwell Sutter Capital Inc. now owns 84,047 shares of the company’s stock valued at $1,994,000 after buying an additional 2,800 shares during the period. 66.16% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Hovde Group upped their price target 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 Performance

Shares of BCML opened at $28.99 on Wednesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.04 and a current ratio of 1.04. BayCom Corp has a 52-week low of $18.54 and a 52-week high of $30.13. The firm has a market cap of $322.37 million, a price-to-earnings ratio of 13.80 and a beta of 0.79. The business’s fifty day moving average is $25.51 and its 200-day moving average is $22.88.

BayCom (NASDAQ:BCML) last issued its 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. The firm had revenue of $25.61 million during the quarter, compared to the consensus estimate of $23.70 million. BayCom had a return on equity of 7.56% and a net margin of 17.22%. Equities analysts anticipate that BayCom Corp will post 2.06 EPS for the current fiscal year.

BayCom Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Thursday, December 12th will be paid a $0.15 dividend. This is an increase from BayCom’s previous quarterly dividend of $0.10. The ex-dividend date is Thursday, December 12th. This represents a $0.60 annualized dividend and a yield of 2.07%. BayCom’s dividend payout ratio is presently 19.05%.

BayCom 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.