BayCom Corp (NASDAQ:BCML) Short Interest Up 19.0% in March

BayCom Corp (NASDAQ:BCML) saw a significant growth in short interest during the month of March. As of March 15th, there was short interest totalling 49,400 shares, a growth of 19.0% from the February 28th total of 41,500 shares. Based on an average daily trading volume, of 27,300 shares, the short-interest ratio is presently 1.8 days. Approximately 0.5% of the shares of the company are sold short.

Analysts Set New Price Targets

Separately, Hovde Group cut shares of BayCom from an “outperform” rating to a “market perform” rating and set a $31.00 price objective for the company. in a report on Wednesday, February 12th.

BayCom Price Performance

NASDAQ BCML opened at $25.72 on Thursday. The stock has a market capitalization of $286.26 million, a price-to-earnings ratio of 12.25 and a beta of 0.82. BayCom has a 1-year low of $18.54 and a 1-year high of $30.13. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.04 and a quick ratio of 1.04. The business’s fifty day moving average price is $26.89 and its 200-day moving average price is $26.36.

BayCom (NASDAQ:BCML) last posted its earnings results on Thursday, January 23rd. The company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. BayCom had a return on equity of 7.45% and a net margin of 17.10%. On average, equities analysts predict that BayCom will post 2.48 earnings per share for the current year.

BayCom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Thursday, March 13th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date of this dividend is Thursday, March 13th. BayCom’s payout ratio is 28.57%.

Insider Activity at BayCom

In other BayCom news, CEO George J. Guarini sold 27,000 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $27.50, for a total transaction of $742,500.00. Following the transaction, the chief executive officer now owns 46,759 shares in the company, valued at approximately $1,285,872.50. This represents a 36.61 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 7.20% of the stock is currently owned by insiders.

Institutional Trading of BayCom

Several large investors have recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. bought a new position in BayCom in the fourth quarter worth approximately $422,000. Barclays PLC increased its stake in shares of BayCom by 61.3% in the 3rd quarter. Barclays PLC now owns 27,486 shares of the company’s stock worth $651,000 after purchasing an additional 10,442 shares in the last quarter. Empowered Funds LLC raised its holdings in BayCom by 4.9% in the 4th quarter. Empowered Funds LLC now owns 34,399 shares of the company’s stock worth $923,000 after purchasing an additional 1,604 shares during the period. State Street Corp lifted its position in BayCom by 0.5% during the third quarter. State Street Corp now owns 163,965 shares of the company’s stock valued at $3,906,000 after purchasing an additional 880 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in BayCom during the fourth quarter valued at about $120,000. 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.