BayCom Corp (NASDAQ:BCML) Short Interest Up 6.2% in September

BayCom Corp (NASDAQ:BCML) was the recipient of a large growth in short interest during the month of September. As of September 15th, there was short interest totalling 49,900 shares, a growth of 6.2% from the August 31st total of 47,000 shares. Currently, 0.5% of the company’s shares are short sold. Based on an average daily volume of 23,700 shares, the days-to-cover ratio is presently 2.1 days.

BayCom Trading Up 0.6 %

Shares of NASDAQ BCML traded up $0.15 during midday trading on Monday, reaching $23.88. 1,036 shares of the stock were exchanged, compared to its average volume of 22,794. BayCom has a 12 month low of $18.54 and a 12 month high of $25.04. The company has a market capitalization of $268.60 million, a price-to-earnings ratio of 10.74 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 simple moving average of $22.78 and a two-hundred day simple moving average of $21.06.

BayCom (NASDAQ:BCML) last released its quarterly earnings results on Thursday, July 18th. The company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. BayCom had a return on equity of 7.84% and a net margin of 17.88%. The company had revenue of $33.89 million for the quarter, compared to analyst estimates of $23.80 million. As a group, equities research analysts expect that BayCom will post 2.04 EPS for the current year.

BayCom Dividend Announcement

The business 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. This represents a $0.40 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date is Thursday, September 19th. BayCom’s payout ratio is currently 18.10%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Quadrature Capital Ltd acquired a new position in BayCom in the 1st quarter worth $465,000. Dimensional Fund Advisors LP raised its position in BayCom by 2.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 594,015 shares of the company’s stock valued at $12,088,000 after buying an additional 15,798 shares during the last quarter. Acadian Asset Management LLC lifted its stake in BayCom by 5.8% in the 2nd quarter. Acadian Asset Management LLC now owns 209,844 shares of the company’s stock valued at $4,268,000 after acquiring an additional 11,484 shares in the last quarter. Panagora Asset Management Inc. acquired a new position in BayCom during the 2nd quarter worth approximately $211,000. Finally, BNP Paribas Financial Markets raised its holdings in shares of BayCom by 38.5% in the first quarter. BNP Paribas Financial Markets now owns 22,170 shares of the company’s stock valued at $457,000 after purchasing an additional 6,158 shares during the last quarter. Institutional investors and hedge funds own 66.16% of the company’s stock.

Analysts Set New Price Targets

Separately, Hovde Group assumed coverage on shares of BayCom in a report on Friday, July 12th. They issued an “outperform” rating and a $24.00 price objective on the stock.

BayCom Company 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.