BayCom Corp (NASDAQ:BCML) Sees Significant Decline in Short Interest

BayCom Corp (NASDAQ:BCML) saw a large drop in short interest in the month of April. As of April 15th, there was short interest totalling 62,500 shares, a drop of 17.5% from the March 31st total of 75,800 shares. Based on an average daily trading volume, of 24,800 shares, the short-interest ratio is presently 2.5 days.

Analysts Set New Price Targets

Separately, Hovde Group assumed coverage on shares of BayCom in a research report on Monday, April 22nd. They issued an “outperform” rating and a $24.00 price target for the company.

BayCom Stock Up 0.2 %

Shares of BayCom stock traded up $0.04 during trading on Friday, hitting $20.15. 27,955 shares of the stock were exchanged, compared to its average volume of 24,604. The stock has a market cap of $231.12 million, a price-to-earnings ratio of 9.12 and a beta of 0.76. The firm’s 50-day moving average price is $20.00 and its 200 day moving average price is $20.80. BayCom has a 12-month low of $15.02 and a 12-month high of $24.31. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.05 and a quick ratio of 1.05.

BayCom (NASDAQ:BCML) last released its quarterly earnings data on Thursday, January 25th. The company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.02). The firm had revenue of $26.20 million for the quarter, compared to analysts’ expectations of $25.90 million. BayCom had a return on equity of 8.45% and a net margin of 19.27%. As a group, analysts forecast that BayCom will post 1.98 earnings per share for the current fiscal year.

BayCom Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Saturday, March 16th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.40 annualized dividend and a dividend yield of 1.99%. BayCom’s dividend payout ratio (DPR) is currently 18.10%.

Institutional Investors Weigh In On BayCom

Institutional investors have recently modified their holdings of the company. LSV Asset Management acquired a new stake in BayCom during the 4th quarter worth $717,000. Los Angeles Capital Management LLC acquired a new stake in BayCom during the 4th quarter worth $615,000. Assenagon Asset Management S.A. acquired a new stake in BayCom during the 3rd quarter worth $442,000. O Shaughnessy Asset Management LLC acquired a new stake in BayCom during the 3rd quarter worth $281,000. Finally, SG Americas Securities LLC acquired a new stake in BayCom during the 3rd quarter worth $105,000. 66.16% of the stock is owned by hedge funds and other institutional investors.

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.