JPMorgan Chase & Co. Grows Position in BayCom Corp (NASDAQ:BCML)

JPMorgan Chase & Co. grew its holdings in BayCom Corp (NASDAQ:BCML - Free Report) by 99.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 44,455 shares of the company's stock after buying an additional 22,125 shares during the period. JPMorgan Chase & Co. owned 0.40% of BayCom worth $1,193,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of BCML. Royce & Associates LP raised its holdings in BayCom by 11.1% in the 4th quarter. Royce & Associates LP now owns 603,286 shares of the company's stock valued at $16,192,000 after acquiring an additional 60,075 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of BayCom in the fourth quarter valued at approximately $422,000. Barclays PLC increased 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 valued at $651,000 after purchasing an additional 10,442 shares during the last quarter. SG Americas Securities LLC purchased a new position in BayCom during the fourth quarter worth approximately $120,000. Finally, Prudential Financial Inc. lifted its position in BayCom by 12.7% during the fourth quarter. Prudential Financial Inc. now owns 37,335 shares of the company's stock worth $1,002,000 after buying an additional 4,200 shares in the last quarter. 66.16% of the stock is owned by hedge funds and other institutional investors.

BayCom Price Performance

BayCom stock opened at $25.96 on Friday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.22. The stock has a market cap of $288.93 million, a P/E ratio of 12.36 and a beta of 0.50. The company has a 50-day moving average price of $25.81 and a 200 day moving average price of $26.58. BayCom Corp has a 12-month low of $18.54 and a 12-month high of $30.13.

BayCom (NASDAQ:BCML - Get Free Report) last announced its quarterly earnings results on Thursday, April 17th. The company reported $0.51 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.52 by ($0.01). BayCom had a return on equity of 7.45% and a net margin of 17.10%. The firm had revenue of $32.65 million for the quarter, compared to analyst estimates of $24.07 million. Sell-side analysts anticipate that BayCom Corp will post 2.48 earnings per share for the current year.

BayCom Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 10th. Shareholders of record on Thursday, March 13th were given a $0.15 dividend. The ex-dividend date was Thursday, March 13th. This represents a $0.60 dividend on an annualized basis and a yield of 2.31%. BayCom's dividend payout ratio is currently 28.57%.

Wall Street Analyst Weigh In

Separately, Hovde Group downgraded 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.

Insider Activity

In related news, CEO George J. Guarini sold 27,000 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was 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 of the company's stock, valued at approximately $1,285,872.50. This trade represents a 36.61 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 7.20% of the company's stock.

BayCom 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.

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