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

BayCom Corp (NASDAQ:BCML - Get Free Report) was the target of a large drop in short interest in February. As of February 28th, there was short interest totalling 41,500 shares, a drop of 19.4% from the February 13th total of 51,500 shares. Based on an average trading volume of 27,400 shares, the days-to-cover ratio is presently 1.5 days. Currently, 0.4% of the company's stock are short sold.

BayCom Stock Performance

NASDAQ BCML traded down $0.48 during trading hours on Friday, reaching $25.13. 28,041 shares of the company were exchanged, compared to its average volume of 22,422. The stock has a market capitalization of $279.66 million, a P/E ratio of 12.14 and a beta of 0.82. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.22. BayCom has a 1 year low of $18.54 and a 1 year high of $30.13. The business's 50 day simple moving average is $27.00 and its 200-day simple moving average is $26.13.

BayCom (NASDAQ:BCML - Get Free Report) last issued its earnings results on Thursday, January 23rd. The company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.04. BayCom had a return on equity of 7.45% and a net margin of 17.10%. On average, equities research analysts expect that BayCom will post 2.48 earnings per share for the current year.

BayCom Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Thursday, March 13th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date is Thursday, March 13th. BayCom's payout ratio is currently 28.57%.

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Analyst Upgrades and Downgrades

Separately, Hovde Group downgraded BayCom from an "outperform" rating to a "market perform" rating and set a $31.00 target price on the stock. in a research note on Wednesday, February 12th.

Insider Activity at BayCom

In related news, CEO George J. Guarini sold 27,000 shares of BayCom stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $27.50, for a total transaction of $742,500.00. Following the transaction, the chief executive officer now owns 46,759 shares of the company's stock, valued at $1,285,872.50. The trade was a 36.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 7.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Assenagon Asset Management S.A. bought a new position in shares of BayCom in the fourth quarter worth $422,000. Empowered Funds LLC grew its holdings in BayCom by 5.2% during 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. Barclays PLC grew its holdings in BayCom by 61.3% during the 3rd quarter. Barclays PLC now owns 27,486 shares of the company's stock valued at $651,000 after buying an additional 10,442 shares in the last quarter. State Street Corp increased its position in shares of BayCom by 0.5% during the third quarter. State Street Corp now owns 163,965 shares of the company's stock valued at $3,906,000 after buying an additional 880 shares during the period. Finally, SG Americas Securities LLC purchased a new stake in shares of BayCom in the fourth quarter worth about $120,000. 66.16% of the stock is owned by 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.