Assenagon Asset Management S.A. Cuts Stock Position in BayCom Corp (NASDAQ:BCML)

Assenagon Asset Management S.A. lessened its stake in shares of BayCom Corp (NASDAQ:BCML) by 61.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,619 shares of the company’s stock after selling 18,327 shares during the quarter. Assenagon Asset Management S.A.’s holdings in BayCom were worth $236,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of BayCom by 0.4% during the first quarter. Vanguard Group Inc. now owns 668,965 shares of the company’s stock worth $13,787,000 after purchasing an additional 2,801 shares during the last quarter. Acadian Asset Management LLC raised its stake in shares of BayCom by 1.1% during the first quarter. Acadian Asset Management LLC now owns 198,360 shares of the company’s stock worth $4,086,000 after purchasing an additional 2,191 shares during the last quarter. LSV Asset Management raised its stake in shares of BayCom by 17.8% during the first quarter. LSV Asset Management now owns 35,807 shares of the company’s stock worth $738,000 after purchasing an additional 5,399 shares during the last quarter. Empowered Funds LLC raised its stake in shares of BayCom by 7.8% during the first 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 last quarter. Finally, Los Angeles Capital Management LLC acquired a new position in BayCom during the fourth quarter worth $615,000. Hedge funds and other institutional investors own 66.16% of the company’s stock.

BayCom Trading Up 5.9 %

Shares of BCML stock opened at $23.15 on Friday. The business’s fifty day moving average price is $21.50 and its 200 day moving average price is $20.52. BayCom Corp has a 1-year low of $18.54 and a 1-year high of $25.04. The firm has a market capitalization of $260.39 million, a PE ratio of 10.48 and a beta of 0.77. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.05 and a quick ratio of 1.05.

BayCom (NASDAQ:BCML) last announced its quarterly earnings data on Thursday, July 18th. The company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. BayCom had a return on equity of 7.87% and a net margin of 17.88%. The firm had revenue of $33.89 million for the quarter, compared to analyst estimates of $23.80 million. As a group, sell-side analysts forecast that BayCom Corp will post 2.04 EPS for the current fiscal year.

BayCom Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Thursday, September 19th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.73%. The ex-dividend date of this dividend is Thursday, September 19th. BayCom’s dividend payout ratio (DPR) is 18.10%.

Wall Street Analysts Forecast Growth

Separately, Hovde Group began coverage on BayCom in a report on Friday, July 12th. They set an “outperform” rating and a $24.00 price objective 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.