BayCom Corp (NASDAQ:BCML) Sees Significant Decrease in Short Interest

BayCom Corp (NASDAQ:BCMLGet Free Report) was the recipient of a significant decline in short interest during the month of May. As of May 31st, there was short interest totalling 39,900 shares, a decline of 35.2% from the May 15th total of 61,600 shares. Currently, 0.4% of the shares of the company are sold short. Based on an average daily volume of 24,800 shares, the short-interest ratio is currently 1.6 days.

BayCom Stock Performance

Shares of BCML traded down $0.06 during trading hours on Friday, hitting $19.25. The stock had a trading volume of 14,114 shares, compared to its average volume of 17,263. The firm has a market capitalization of $216.56 million, a PE ratio of 8.71 and a beta of 0.76. 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 has a 12 month low of $16.28 and a 12 month high of $24.31. The stock has a fifty day moving average price of $19.97 and a 200 day moving average price of $20.71.

BayCom (NASDAQ:BCMLGet Free Report) last released its quarterly earnings results on Thursday, April 18th. The company reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.05). BayCom had a net margin of 19.27% and a return on equity of 8.41%. The firm had revenue of $24.47 million for the quarter, compared to the consensus estimate of $24.80 million. Analysts anticipate that BayCom will post 1.98 EPS for the current year.

BayCom Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Thursday, June 13th will be given a $0.10 dividend. The ex-dividend date is Thursday, June 13th. This represents a $0.40 annualized dividend and a yield of 2.08%. BayCom’s payout ratio is presently 18.10%.

Wall Street Analysts Forecast Growth

Separately, Hovde Group initiated coverage on shares of BayCom in a report on Monday, April 22nd. They issued an “outperform” rating and a $24.00 target price on the stock.

Check Out Our Latest Report on BCML

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. New York State Common Retirement Fund lifted its position in BayCom by 55.8% during the fourth quarter. New York State Common Retirement Fund now owns 4,505 shares of the company’s stock valued at $106,000 after purchasing an additional 1,613 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of BayCom by 13.4% during the 4th quarter. SG Americas Securities LLC now owns 6,204 shares of the company’s stock valued at $146,000 after buying an additional 732 shares in the last quarter. O Shaughnessy Asset Management LLC bought a new position in shares of BayCom during the 3rd quarter valued at approximately $281,000. BNP Paribas Financial Markets increased its holdings in BayCom by 46.8% in the 4th quarter. BNP Paribas Financial Markets now owns 16,012 shares of the company’s stock worth $378,000 after acquiring an additional 5,106 shares in the last quarter. Finally, Quadrature Capital Ltd bought a new stake in BayCom during the 1st quarter worth approximately $465,000. Hedge funds and other institutional investors own 66.16% of the company’s stock.

BayCom Company Profile

(Get Free Report)

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.

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