BayCom Corp (NASDAQ:BCML) Short Interest Down 23.0% in December

BayCom Corp (NASDAQ:BCML) was the recipient of a large drop in short interest during the month of December. As of December 15th, there was short interest totalling 37,100 shares, a drop of 23.0% from the November 30th total of 48,200 shares. Based on an average daily volume of 26,500 shares, the short-interest ratio is currently 1.4 days. Currently, 0.4% of the shares of the stock are sold short.

Hedge Funds Weigh In On BayCom

A number of large investors have recently modified their holdings of BCML. Royce & Associates LP increased its holdings in shares of BayCom by 11.5% in the third quarter. Royce & Associates LP now owns 543,211 shares of the company’s stock valued at $12,885,000 after purchasing an additional 56,066 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in BayCom by 2.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 594,015 shares of the company’s stock valued at $12,088,000 after buying an additional 15,798 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of 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 buying an additional 12,617 shares during the period. Acadian Asset Management LLC raised its position in shares of BayCom by 5.8% during the second quarter. Acadian Asset Management LLC now owns 209,844 shares of the company’s stock worth $4,268,000 after acquiring an additional 11,484 shares during the last quarter. Finally, Barclays PLC lifted its stake in shares of BayCom by 61.3% during 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 during the period. 66.16% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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 Price Performance

NASDAQ BCML traded down $0.41 during trading hours on Friday, reaching $26.77. 27,079 shares of the company’s stock were exchanged, compared to its average volume of 23,982. The firm has a fifty day moving average of $27.16 and a 200-day moving average of $23.87. BayCom has a one year low of $18.54 and a one year high of $30.13. The stock has a market cap of $297.71 million, a PE ratio of 12.75 and a beta of 0.79. 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 announced its earnings results on Thursday, October 17th. The company reported $0.54 EPS 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 for the quarter, compared to analysts’ expectations of $23.70 million. On average, equities research analysts predict that BayCom will post 2.06 earnings per share for the current fiscal year.

BayCom Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Thursday, December 12th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 2.24%. The ex-dividend date is Thursday, December 12th. This is a boost from BayCom’s previous quarterly dividend of $0.10. BayCom’s dividend payout ratio (DPR) is presently 28.57%.

BayCom Company Profile

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.