BayCom Corp (NASDAQ:BCML) Shares Acquired by State Street Corp

State Street Corp grew its holdings in BayCom Corp (NASDAQ:BCML) by 0.5% during the third quarter, HoldingsChannel reports. The fund owned 163,965 shares of the company’s stock after purchasing an additional 880 shares during the period. State Street Corp’s holdings in BayCom were worth $3,906,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Royce & Associates LP increased its stake in BayCom by 11.5% in the third quarter. Royce & Associates LP now owns 543,211 shares of the company’s stock valued at $12,885,000 after purchasing an additional 56,066 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of BayCom by 2.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 594,015 shares of the company’s stock valued at $12,088,000 after buying an additional 15,798 shares during the last quarter. Acadian Asset Management LLC raised its stake in BayCom by 5.8% during the 2nd quarter. Acadian Asset Management LLC now owns 209,844 shares of the company’s stock worth $4,268,000 after acquiring an additional 11,484 shares in the last quarter. Panagora Asset Management Inc. purchased a new stake in BayCom in the second quarter valued at $211,000. Finally, Martingale Asset Management L P boosted its stake in BayCom by 20.1% in the third quarter. Martingale Asset Management L P now owns 23,341 shares of the company’s stock valued at $554,000 after acquiring an additional 3,900 shares in the last quarter. Institutional investors and hedge funds own 66.16% of the company’s stock.

BayCom Price Performance

BCML stock opened at $26.70 on Tuesday. The business has a 50 day simple moving average of $27.20 and a 200-day simple moving average of $23.98. The company has a market capitalization of $296.93 million, a P/E ratio of 12.71 and a beta of 0.79. BayCom Corp has a twelve month low of $18.54 and a twelve month high of $30.13. 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 (NASDAQ:BCML) last announced its earnings results on Thursday, October 17th. The company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.07. BayCom had a net margin of 17.22% and a return on equity of 7.56%. The business had revenue of $25.61 million during the quarter, compared to analysts’ expectations of $23.70 million. As a group, equities analysts anticipate that BayCom Corp will post 2.06 EPS for the current year.

BayCom Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Thursday, December 12th will be paid a $0.15 dividend. This is an increase from BayCom’s previous quarterly dividend of $0.10. This represents a $0.60 annualized dividend and a dividend yield of 2.25%. The ex-dividend date is Thursday, December 12th. BayCom’s dividend payout ratio (DPR) is 28.57%.

Analyst Ratings Changes

Separately, Hovde Group lifted their target price on BayCom from $26.00 to $28.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th.

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.