BayCom Corp (NASDAQ:BCML) Short Interest Up 13.5% in November

BayCom Corp (NASDAQ:BCML) was the target of a significant increase in short interest in November. As of November 15th, there was short interest totalling 43,600 shares, an increase of 13.5% from the October 31st total of 38,400 shares. Currently, 0.4% of the company’s stock are short sold. Based on an average daily volume of 21,400 shares, the days-to-cover ratio is presently 2.0 days.

Hedge Funds Weigh In On BayCom

Institutional investors have recently bought and sold shares of the stock. Barclays PLC lifted its position in shares of BayCom by 61.3% during the 3rd 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. State Street Corp lifted its holdings in BayCom by 0.5% during the third quarter. State Street Corp now owns 163,965 shares of the company’s stock valued at $3,906,000 after purchasing an additional 880 shares in the last quarter. Captrust Financial Advisors boosted 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 worth $554,000 after purchasing an additional 978 shares during the period. Martingale Asset Management L P increased its stake in shares of BayCom by 20.1% in 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 in the last quarter. Finally, Empowered Funds LLC lifted its stake in shares of BayCom by 5.2% during the 3rd quarter. Empowered Funds LLC now owns 32,795 shares of the company’s stock valued at $778,000 after buying an additional 1,608 shares in the last quarter. 66.16% of the stock is owned by institutional investors.

BayCom Stock Down 0.3 %

Shares of BCML stock traded down $0.09 during mid-day trading on Monday, hitting $28.90. The company’s stock had a trading volume of 7,980 shares, compared to its average volume of 22,731. The stock has a market cap of $321.37 million, a price-to-earnings ratio of 13.80 and a beta of 0.76. 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 has a 52-week low of $18.54 and a 52-week high of $30.13. The business has a 50-day moving average price of $25.40 and a 200 day moving average price of $22.82.

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

BayCom Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Thursday, December 12th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 2.08%. This is a positive change from BayCom’s previous quarterly dividend of $0.10. The ex-dividend date is Thursday, December 12th. BayCom’s dividend payout ratio is 19.05%.

Wall Street Analyst Weigh In

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

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.