BayCom Corp (NASDAQ:BCML) Short Interest Down 9.6% in October

BayCom Corp (NASDAQ:BCML) was the target of a significant decline in short interest in the month of October. As of October 31st, there was short interest totalling 38,400 shares, a decline of 9.6% from the October 15th total of 42,500 shares. Based on an average trading volume of 20,800 shares, the days-to-cover ratio is presently 1.8 days. Currently, 0.4% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

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

Institutional Trading of BayCom

Several large investors have recently bought and sold shares of the company. Barclays PLC boosted its position in shares of BayCom by 61.3% in the 3rd quarter. Barclays PLC now owns 27,486 shares of the company’s stock worth $651,000 after buying an additional 10,442 shares in the last quarter. State Street Corp lifted its holdings in shares of BayCom by 0.5% in 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 grew 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 valued at $554,000 after purchasing an additional 978 shares during the last quarter. Martingale Asset Management L P increased its stake in shares of BayCom by 20.1% during the 3rd 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 BayCom by 5.2% in 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. Institutional investors and hedge funds own 66.16% of the company’s stock.

BayCom Price Performance

Shares of NASDAQ BCML traded down $0.05 during trading on Friday, hitting $27.30. 16,185 shares of the company were exchanged, compared to its average volume of 28,796. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.04 and a quick ratio of 1.04. BayCom has a 1 year low of $18.54 and a 1 year high of $28.62. The company has a market cap of $303.58 million, a price-to-earnings ratio of 13.00 and a beta of 0.76. The firm’s fifty day moving average price is $24.34 and its 200 day moving average price is $22.23.

BayCom (NASDAQ:BCML) last released its quarterly earnings data on Thursday, October 17th. The company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.07. BayCom had a net margin of 17.22% and a return on equity of 7.56%. The firm had revenue of $25.61 million for the quarter, compared to the consensus estimate of $23.70 million. On average, sell-side analysts expect that BayCom will post 2.06 earnings per share for the current fiscal year.

BayCom Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Thursday, September 19th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $0.40 dividend on an annualized basis and a yield of 1.47%. BayCom’s payout ratio is 19.05%.

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.