PNC Financial Services Group Inc. Acquires 428 Shares of BayCom Corp (NASDAQ:BCML)

PNC Financial Services Group Inc. grew its holdings in BayCom Corp (NASDAQ:BCML) by 46.6% during the fourth quarter, Holdings Channel.com reports. The firm owned 1,347 shares of the company’s stock after acquiring an additional 428 shares during the quarter. PNC Financial Services Group Inc.’s holdings in BayCom were worth $36,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in BCML. Martingale Asset Management L P grew its holdings in BayCom by 20.1% during the third quarter. Martingale Asset Management L P now owns 23,341 shares of the company’s stock worth $554,000 after purchasing an additional 3,900 shares during the period. Captrust Financial Advisors lifted its position in shares of BayCom by 4.4% in the third quarter. Captrust Financial Advisors now owns 23,361 shares of the company’s stock valued at $554,000 after buying an additional 978 shares during the last quarter. State Street Corp boosted its stake in shares of BayCom by 0.5% during the 3rd quarter. State Street Corp now owns 163,965 shares of the company’s stock worth $3,906,000 after acquiring an additional 880 shares during the period. Barclays PLC increased its holdings in shares of BayCom by 61.3% during the 3rd quarter. Barclays PLC now owns 27,486 shares of the company’s stock worth $651,000 after acquiring an additional 10,442 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in BayCom by 129.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 22,330 shares of the company’s stock valued at $530,000 after acquiring an additional 12,617 shares during the period. Institutional investors own 66.16% of the company’s stock.

BayCom Trading Up 1.8 %

BCML stock opened at $26.07 on Friday. BayCom Corp has a 52 week low of $18.54 and a 52 week high of $30.13. The company has a market capitalization of $290.16 million, a PE ratio of 12.41 and a beta of 0.82. The company’s 50-day simple moving average is $26.99 and its 200 day simple moving average is $26.24. 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 (NASDAQ:BCML) last released its quarterly 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 net margin of 17.10% and a return on equity of 7.45%. As a group, sell-side analysts anticipate that BayCom Corp will post 2.48 earnings per share for the current year.

BayCom Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Thursday, March 13th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 2.30%. The ex-dividend date is Thursday, March 13th. BayCom’s dividend payout ratio (DPR) is currently 28.57%.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

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 research report on Wednesday, February 12th.

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.