BayCom Corp (NASDAQ:BCML) Sees Large Increase in Short Interest

BayCom Corp (NASDAQ:BCML) was the target of a large growth in short interest in December. As of December 31st, there was short interest totalling 53,200 shares, a growth of 43.4% from the December 15th total of 37,100 shares. Approximately 0.5% of the shares of the stock are sold short. Based on an average daily trading volume, of 27,400 shares, the days-to-cover ratio is presently 1.9 days.

Wall Street Analysts Forecast Growth

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

BayCom Price Performance

Shares of NASDAQ:BCML traded up $1.28 on Wednesday, reaching $26.79. The company’s stock had a trading volume of 46,141 shares, compared to its average volume of 24,313. The company has a 50-day simple moving average of $27.52 and a 200 day simple moving average of $24.54. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.04 and a current ratio of 1.04. The company has a market cap of $297.93 million, a P/E ratio of 12.76 and a beta of 0.80. BayCom has a 52-week low of $18.54 and a 52-week high of $30.13.

BayCom (NASDAQ:BCML) last issued its quarterly earnings data on Thursday, October 17th. The company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.07. The company had revenue of $25.61 million for the quarter, compared to analysts’ expectations of $23.70 million. BayCom had a return on equity of 7.56% and a net margin of 17.22%. As a group, equities research analysts anticipate that BayCom will post 2.06 EPS for the current fiscal year.

BayCom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Thursday, December 12th were given a $0.15 dividend. The ex-dividend date of this dividend was Thursday, December 12th. This is an increase from BayCom’s previous quarterly dividend of $0.10. This represents a $0.60 dividend on an annualized basis and a yield of 2.24%. BayCom’s dividend payout ratio (DPR) is currently 28.57%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of BCML. Assenagon Asset Management S.A. purchased a new position in shares of BayCom during the 4th quarter worth about $422,000. JPMorgan Chase & Co. lifted its stake in BayCom by 129.9% in the third quarter. JPMorgan Chase & Co. now owns 22,330 shares of the company’s stock worth $530,000 after purchasing an additional 12,617 shares during the last quarter. Captrust Financial Advisors boosted its position in shares of BayCom by 4.4% during the third quarter. Captrust Financial Advisors now owns 23,361 shares of the company’s stock valued at $554,000 after buying an additional 978 shares during the period. Martingale Asset Management L P grew its stake in shares of BayCom by 20.1% during the third quarter. Martingale Asset Management L P now owns 23,341 shares of the company’s stock valued at $554,000 after buying an additional 3,900 shares during the last quarter. Finally, Barclays PLC raised its holdings in shares of BayCom by 61.3% in the third quarter. Barclays PLC now owns 27,486 shares of the company’s stock worth $651,000 after buying an additional 10,442 shares during the period. Institutional investors own 66.16% of the company’s stock.

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.