BayCom Corp (NASDAQ:BCML) Short Interest Up 6.2% in September

BayCom Corp (NASDAQ:BCML) saw a significant increase in short interest in the month of September. As of September 15th, there was short interest totalling 49,900 shares, an increase of 6.2% from the August 31st total of 47,000 shares. Based on an average daily volume of 23,700 shares, the days-to-cover ratio is presently 2.1 days. Approximately 0.5% of the shares of the company are sold short.

BayCom Stock Performance

Shares of NASDAQ:BCML traded up $0.15 during midday trading on Monday, hitting $23.88. The company’s stock had a trading volume of 1,036 shares, compared to its average volume of 22,794. BayCom has a fifty-two week low of $18.54 and a fifty-two week high of $25.04. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a market capitalization of $268.60 million, a price-to-earnings ratio of 10.74 and a beta of 0.77. The stock’s 50 day simple moving average is $22.78 and its 200 day simple moving average is $21.06.

BayCom (NASDAQ:BCML) last issued its quarterly earnings results on Thursday, July 18th. The company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.48 by $0.02. BayCom had a return on equity of 7.84% and a net margin of 17.88%. The company had revenue of $33.89 million for the quarter, compared to the consensus estimate of $23.80 million. As a group, research analysts anticipate that BayCom will post 2.04 earnings per share for the current year.

BayCom Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Thursday, September 19th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.68%. The ex-dividend date of this dividend is Thursday, September 19th. BayCom’s payout ratio is currently 18.10%.

Analyst Ratings Changes

Separately, Hovde Group assumed coverage on shares of BayCom in a research note on Friday, July 12th. They issued an “outperform” rating and a $24.00 target price on the stock.

Institutional Trading of BayCom

Hedge funds have recently bought and sold shares of the stock. Quadrature Capital Ltd acquired a new position in shares of BayCom during the first quarter valued at about $465,000. Dimensional Fund Advisors LP lifted its position in BayCom by 2.7% in the second quarter. Dimensional Fund Advisors LP now owns 594,015 shares of the company’s stock worth $12,088,000 after purchasing an additional 15,798 shares during the period. Acadian Asset Management LLC boosted its stake in BayCom by 5.8% during the second quarter. Acadian Asset Management LLC now owns 209,844 shares of the company’s stock worth $4,268,000 after buying an additional 11,484 shares in the last quarter. Panagora Asset Management Inc. bought a new stake in BayCom in the 2nd quarter valued at $211,000. Finally, BNP Paribas Financial Markets lifted its holdings in shares of BayCom by 38.5% during the 1st quarter. BNP Paribas Financial Markets now owns 22,170 shares of the company’s stock worth $457,000 after acquiring an additional 6,158 shares during the period. 66.16% of the stock is owned by institutional investors.

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.