BayCom Corp (NASDAQ:BCML) Short Interest Up 26.9% in March

BayCom Corp (NASDAQ:BCML - Get Free Report) was the target of a large increase in short interest during the month of March. As of March 31st, there was short interest totalling 62,700 shares, an increase of 26.9% from the March 15th total of 49,400 shares. Currently, 0.6% of the shares of the stock are sold short. Based on an average daily volume of 23,700 shares, the short-interest ratio is presently 2.6 days.

BayCom Trading Down 0.1 %

BCML traded down $0.02 during trading on Friday, reaching $26.08. 11,148 shares of the company's stock were exchanged, compared to its average volume of 24,172. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.22. BayCom has a one year low of $18.54 and a one year high of $30.13. The firm has a fifty day moving average price of $25.85 and a two-hundred day moving average price of $26.54. The stock has a market capitalization of $290.31 million, a PE ratio of 12.38 and a beta of 0.50.

BayCom (NASDAQ:BCML - Get Free Report) last issued its quarterly earnings data on Thursday, April 17th. The company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.01). The business had revenue of $32.65 million during the quarter, compared to the consensus estimate of $24.07 million. BayCom had a return on equity of 7.45% and a net margin of 17.10%. As a group, equities research analysts forecast that BayCom will post 2.48 earnings per share for the current fiscal year.

BayCom Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 10th. Stockholders of record on Thursday, March 13th were paid a $0.15 dividend. The ex-dividend date was Thursday, March 13th. This represents a $0.60 annualized dividend and a dividend yield of 2.30%. BayCom's payout ratio is 28.57%.

Wall Street Analyst Weigh In

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

Insider Activity at BayCom

In other news, CEO George J. Guarini sold 27,000 shares of the company's stock in a transaction 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 transaction, the chief executive officer now directly owns 46,759 shares in the company, valued at approximately $1,285,872.50. This represents a 36.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 7.20% of the stock is owned by insiders.

Hedge Funds Weigh In On BayCom

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Wellington Management Group LLP raised its holdings in BayCom by 41.6% during the 4th quarter. Wellington Management Group LLP now owns 930,498 shares of the company's stock worth $24,975,000 after purchasing an additional 273,135 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in BayCom by 2.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 615,795 shares of the company's stock worth $16,528,000 after buying an additional 13,269 shares during the last quarter. Royce & Associates LP lifted its holdings in BayCom by 11.1% in the fourth quarter. Royce & Associates LP now owns 603,286 shares of the company's stock valued at $16,192,000 after buying an additional 60,075 shares during the period. Alliancebernstein L.P. lifted its holdings in BayCom by 0.3% in the fourth quarter. Alliancebernstein L.P. now owns 434,799 shares of the company's stock valued at $11,670,000 after buying an additional 1,500 shares during the period. Finally, State Street Corp boosted its position in 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 acquiring an additional 880 shares during the last quarter. 66.16% of the stock is owned by institutional investors and hedge funds.

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.