Geode Capital Management LLC Reduces Stake in BayCom Corp (NASDAQ:BCML)

Geode Capital Management LLC lessened its position in shares of BayCom Corp (NASDAQ:BCML) by 0.4% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 232,431 shares of the company’s stock after selling 839 shares during the quarter. Geode Capital Management LLC’s holdings in BayCom were worth $5,514,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Captrust Financial Advisors increased its position in shares of BayCom by 4.4% during the 3rd quarter. Captrust Financial Advisors now owns 23,361 shares of the company’s stock valued at $554,000 after purchasing an additional 978 shares during the last quarter. Martingale Asset Management L P increased its holdings in BayCom by 20.1% during the third quarter. Martingale Asset Management L P now owns 23,341 shares of the company’s stock valued at $554,000 after buying an additional 3,900 shares during the last quarter. Barclays PLC boosted its stake in shares of BayCom by 61.3% during the 3rd quarter. Barclays PLC now owns 27,486 shares of the company’s stock worth $651,000 after acquiring an additional 10,442 shares during the last quarter. Empowered Funds LLC grew its position in shares of 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 acquiring an additional 1,608 shares during the period. Finally, Bank of New York Mellon Corp grew its position in shares of BayCom by 3.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 45,509 shares of the company’s stock valued at $926,000 after acquiring an additional 1,380 shares during the period. Institutional investors own 66.16% of the company’s stock.

Analyst Upgrades and Downgrades

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

BayCom Trading Up 0.5 %

BayCom stock opened at $26.33 on Friday. The firm has a market capitalization of $292.82 million, a price-to-earnings ratio of 12.54 and a beta of 0.79. BayCom Corp has a 12-month low of $18.54 and a 12-month high of $30.13. The firm has a 50 day moving average of $27.42 and a 200 day moving average of $24.20. 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 released its earnings results on Thursday, October 17th. The company reported $0.54 earnings per share 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 company had revenue of $25.61 million for the quarter, compared to analysts’ expectations of $23.70 million. As a group, research analysts predict that BayCom Corp will post 2.06 earnings per share for the current year.

BayCom Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Thursday, December 12th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 2.28%. The ex-dividend date of this dividend is Thursday, December 12th. This is an increase from BayCom’s previous quarterly dividend of $0.10. BayCom’s dividend payout ratio (DPR) is 28.57%.

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.