Los Angeles Capital Management LLC Reduces Position in BayCom Corp (NASDAQ:BCML)

Los Angeles Capital Management LLC trimmed its holdings in BayCom Corp (NASDAQ:BCML) by 11.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 19,927 shares of the company’s stock after selling 2,600 shares during the period. Los Angeles Capital Management LLC owned 0.18% of BayCom worth $473,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Panagora Asset Management Inc. acquired a new stake in BayCom in the 2nd quarter valued at about $211,000. BNP Paribas Financial Markets lifted its position in BayCom by 38.5% during the first quarter. BNP Paribas Financial Markets now owns 22,170 shares of the company’s stock worth $457,000 after buying an additional 6,158 shares in the last quarter. Quadrature Capital Ltd acquired a new position in BayCom during the first quarter worth $465,000. Bank of New York Mellon Corp grew 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 valued at $926,000 after buying an additional 1,380 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in shares of BayCom by 3.2% in the 2nd 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. 66.16% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

BayCom Stock Performance

BayCom stock opened at $27.30 on Friday. The firm has a 50 day simple moving average of $24.34 and a 200-day simple moving average of $22.23. The stock has a market cap of $303.58 million, a price-to-earnings ratio of 13.00 and a beta of 0.76. 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 Corp has a 1-year low of $18.54 and a 1-year high of $28.62.

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

BayCom Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Thursday, September 19th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date of this dividend was Thursday, September 19th. BayCom’s dividend payout ratio (DPR) is 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.