Short Interest in BayCom Corp (NASDAQ:BCML) Rises By 43.4%

BayCom Corp (NASDAQ:BCML) was the recipient of a large growth in short interest in the month of December. As of December 31st, there was short interest totalling 53,200 shares, a growth of 43.4% from the December 15th total of 37,100 shares. Based on an average trading volume of 27,400 shares, the short-interest ratio is currently 1.9 days. Approximately 0.5% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

Separately, Hovde Group lifted 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 Stock Performance

Shares of BayCom stock traded down $0.37 on Thursday, reaching $26.42. 44,280 shares of the stock were exchanged, compared to its average volume of 28,408. The firm has a market capitalization of $293.79 million, a PE ratio of 12.58 and a beta of 0.80. BayCom has a 1-year low of $18.54 and a 1-year high of $30.13. The business has a fifty day moving average price of $27.51 and a two-hundred day moving average price of $24.55. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.22.

BayCom (NASDAQ:BCML) last released its earnings results on Thursday, October 17th. The company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.07. The company had revenue of $25.61 million for the quarter, compared to analysts’ expectations of $23.70 million. BayCom had a return on equity of 7.56% and a net margin of 17.22%. As a group, research analysts anticipate that BayCom will post 2.06 earnings per share for the current fiscal year.

BayCom Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Thursday, December 12th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date was Thursday, December 12th. This is a positive change from BayCom’s previous quarterly dividend of $0.10. BayCom’s dividend payout ratio is currently 28.57%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Assenagon Asset Management S.A. acquired a new position in shares of BayCom during the 4th quarter worth $422,000. JPMorgan Chase & Co. lifted its stake in shares of BayCom by 129.9% in the third quarter. JPMorgan Chase & Co. now owns 22,330 shares of the company’s stock valued at $530,000 after purchasing an additional 12,617 shares during the period. Martingale Asset Management L P boosted 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 buying an additional 3,900 shares in the last quarter. Captrust Financial Advisors grew its position in BayCom by 4.4% during the third quarter. Captrust Financial Advisors now owns 23,361 shares of the company’s stock worth $554,000 after buying an additional 978 shares during the period. Finally, Barclays PLC increased its holdings in 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 buying an additional 10,442 shares in the last quarter. Hedge funds and other institutional investors own 66.16% of the company’s stock.

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.