Short Interest in BayCom Corp (NASDAQ:BCML) Grows By 8.8%

BayCom Corp (NASDAQ:BCML) saw a large increase in short interest in the month of June. As of June 15th, there was short interest totalling 43,400 shares, an increase of 8.8% from the May 31st total of 39,900 shares. Based on an average daily volume of 22,200 shares, the days-to-cover ratio is currently 2.0 days. Currently, 0.4% of the shares of the stock are sold short.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of BCML. New York State Common Retirement Fund grew its holdings in shares of BayCom by 55.8% during the fourth quarter. New York State Common Retirement Fund now owns 4,505 shares of the company’s stock valued at $106,000 after buying an additional 1,613 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of BayCom by 13.4% during the fourth quarter. SG Americas Securities LLC now owns 6,204 shares of the company’s stock valued at $146,000 after buying an additional 732 shares in the last quarter. O Shaughnessy Asset Management LLC acquired a new stake in BayCom during the third quarter valued at $281,000. BNP Paribas Financial Markets boosted its position in BayCom by 46.8% during the fourth quarter. BNP Paribas Financial Markets now owns 16,012 shares of the company’s stock valued at $378,000 after purchasing an additional 5,106 shares during the last quarter. Finally, Quadrature Capital Ltd acquired a new stake in BayCom during the first quarter valued at $465,000. Hedge funds and other institutional investors own 66.16% of the company’s stock.

Analyst Ratings Changes

Separately, Hovde Group started coverage on BayCom in a report on Monday, April 22nd. They issued an “outperform” rating and a $24.00 target price on the stock.

BayCom Price Performance

Shares of NASDAQ BCML traded down $0.10 during mid-day trading on Tuesday, reaching $20.30. The company had a trading volume of 2,420 shares, compared to its average volume of 23,397. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.23. The stock has a market cap of $228.38 million, a PE ratio of 9.23 and a beta of 0.77. The company has a 50-day moving average price of $19.87 and a two-hundred day moving average price of $20.53. BayCom has a 1-year low of $16.28 and a 1-year high of $24.31.

BayCom (NASDAQ:BCML) last issued its earnings results on Thursday, April 18th. The company reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.05). The company had revenue of $24.47 million during the quarter, compared to analyst estimates of $24.80 million. BayCom had a return on equity of 8.41% and a net margin of 19.27%. On average, equities analysts anticipate that BayCom will post 1.98 earnings per share for the current year.

BayCom Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Thursday, June 13th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.97%. BayCom’s dividend payout ratio is 18.10%.

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.