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

BayCom Corp (NASDAQ:BCML) was the recipient of a large growth in short interest in March. As of March 15th, there was short interest totalling 49,400 shares, a growth of 19.0% from the February 28th total of 41,500 shares. Based on an average trading volume of 27,300 shares, the days-to-cover ratio is presently 1.8 days. Currently, 0.5% of the company’s stock are short sold.

BayCom Stock Down 6.4 %

BCML stock opened at $24.08 on Friday. The company has a market cap of $268.01 million, a price-to-earnings ratio of 11.47 and a beta of 0.50. The company has a fifty day moving average price of $26.83 and a 200 day moving average price of $26.34. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.04 and a quick ratio of 1.04. BayCom has a 12 month low of $18.54 and a 12 month high of $30.13.

BayCom (NASDAQ:BCML) last announced its earnings results on Thursday, January 23rd. The company reported $0.55 EPS 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%. Sell-side analysts expect that BayCom will post 2.48 earnings per share for the current year.

BayCom Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Thursday, March 13th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $0.60 dividend on an annualized basis and a yield of 2.49%. BayCom’s payout ratio is 28.57%.

Insider Buying and Selling

In other BayCom news, CEO George J. Guarini sold 27,000 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $27.50, for a total transaction of $742,500.00. Following the transaction, the chief executive officer now owns 46,759 shares of the company’s stock, valued at approximately $1,285,872.50. This trade represents a 36.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 7.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of BCML. Assenagon Asset Management S.A. purchased a new position in BayCom in the 4th quarter valued at $422,000. Barclays PLC boosted its holdings in shares of BayCom by 61.3% in the third quarter. Barclays PLC now owns 27,486 shares of the company’s stock valued at $651,000 after acquiring an additional 10,442 shares in the last quarter. Empowered Funds LLC boosted its holdings in shares of BayCom by 4.9% in the fourth quarter. Empowered Funds LLC now owns 34,399 shares of the company’s stock valued at $923,000 after acquiring an additional 1,604 shares in the last quarter. State Street Corp increased its stake in shares of BayCom by 0.5% during the third 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. Finally, SG Americas Securities LLC purchased a new position in BayCom during the fourth quarter worth about $120,000. Institutional investors and hedge funds own 66.16% of the company’s stock.

Analysts Set New Price Targets

Separately, Hovde Group lowered BayCom from an “outperform” rating to a “market perform” rating and set a $31.00 price target on the stock. 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.