Empowered Funds LLC Boosts Holdings in BayCom Corp (NASDAQ:BCML)

Empowered Funds LLC increased its position in BayCom Corp (NASDAQ:BCML) by 5.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 32,795 shares of the company’s stock after purchasing an additional 1,608 shares during the quarter. Empowered Funds LLC’s holdings in BayCom were worth $778,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in BCML. Bank of New York Mellon Corp lifted its holdings in BayCom by 3.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 45,509 shares of the company’s stock worth $926,000 after buying an additional 1,380 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of 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 acquiring an additional 2,500 shares during the last quarter. Caldwell Sutter Capital Inc. lifted its stake in shares of BayCom by 3.4% in the third quarter. Caldwell Sutter Capital Inc. now owns 84,047 shares of the company’s stock worth $1,994,000 after acquiring an additional 2,800 shares in the last quarter. Vanguard Group Inc. boosted its holdings 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 purchasing an additional 2,801 shares during the last quarter. Finally, Panagora Asset Management Inc. acquired a new stake in BayCom during the 2nd quarter valued at approximately $211,000. 66.16% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Hovde Group increased their target price on BayCom from $26.00 to $28.00 and gave the company an “outperform” rating in a research note on Friday, October 18th.

BayCom Price Performance

BCML opened at $28.43 on Friday. The company has a market capitalization of $316.14 million, a P/E ratio of 13.54 and a beta of 0.76. The company has a 50-day moving average of $24.85 and a 200-day moving average of $22.49. 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 1-year low of $18.54 and a 1-year high of $28.62.

BayCom (NASDAQ:BCML) last announced its quarterly earnings data on Thursday, October 17th. The company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.07. The firm had revenue of $25.61 million during the quarter, compared to analyst estimates of $23.70 million. BayCom had a return on equity of 7.56% and a net margin of 17.22%. Equities analysts expect that BayCom Corp will post 2.06 EPS for the current fiscal year.

BayCom Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Thursday, December 12th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date of this dividend is Thursday, December 12th. This is an increase from BayCom’s previous quarterly dividend of $0.10. BayCom’s payout ratio is currently 19.05%.

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.