BayCom Corp (NASDAQ:BCML) Short Interest Up 19.0% in March

BayCom Corp (NASDAQ:BCML - Get Free Report) was the recipient of a significant increase in short interest in March. As of March 15th, there was short interest totalling 49,400 shares, an increase of 19.0% from the February 28th total of 41,500 shares. Currently, 0.5% of the shares of the company are short sold. Based on an average daily volume of 27,300 shares, the days-to-cover ratio is currently 1.8 days.

Insider Activity

In related news, CEO George J. Guarini sold 27,000 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $27.50, for a total transaction of $742,500.00. Following the completion of the sale, the chief executive officer now directly owns 46,759 shares in the company, valued at approximately $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 SEC, which can be accessed through the SEC website. Corporate insiders own 7.20% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in BCML. Assenagon Asset Management S.A. acquired a new position in BayCom during the fourth quarter worth $422,000. Barclays PLC increased its position in shares of BayCom by 61.3% during the third quarter. Barclays PLC now owns 27,486 shares of the company's stock valued at $651,000 after acquiring an additional 10,442 shares during the last quarter. Empowered Funds LLC raised its position in BayCom by 4.9% in the fourth quarter. Empowered Funds LLC now owns 34,399 shares of the company's stock valued at $923,000 after purchasing an additional 1,604 shares during the period. State Street Corp lifted its stake in BayCom by 0.5% during the 3rd quarter. State Street Corp now owns 163,965 shares of the company's stock worth $3,906,000 after acquiring an additional 880 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in shares of BayCom by 46.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,347 shares of the company's stock valued at $36,000 after purchasing an additional 428 shares during the period. Hedge funds and other institutional investors own 66.16% of the company's stock.

BayCom Trading Down 2.9 %

NASDAQ BCML traded down $0.71 during trading on Monday, hitting $23.49. The stock had a trading volume of 14,814 shares, compared to its average volume of 23,945. BayCom has a one year low of $18.54 and a one year high of $30.13. The stock has a market capitalization of $261.43 million, a price-to-earnings ratio of 11.17 and a beta of 0.50. The stock has a 50 day simple moving average of $26.77 and a 200 day simple moving average of $26.38. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.04 and a current ratio of 1.04.

BayCom (NASDAQ:BCML - Get Free Report) last posted its earnings results on Thursday, January 23rd. The company reported $0.55 earnings per share for the quarter, topping analysts' consensus estimates of $0.51 by $0.04. BayCom had a return on equity of 7.45% and a net margin of 17.10%. Sell-side analysts predict that BayCom will post 2.48 earnings per share for the current year.

BayCom Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Thursday, March 13th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $0.60 annualized dividend and a yield of 2.55%. BayCom's payout ratio is presently 28.57%.

Wall Street Analysts Forecast Growth

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

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.