JPMorgan Chase & Co. Raises Stock Holdings in BayCom Corp (NASDAQ:BCML)

JPMorgan Chase & Co. grew its stake in BayCom Corp (NASDAQ:BCML) by 129.9% during the third quarter, Holdings Channel.com reports. The fund owned 22,330 shares of the company’s stock after purchasing an additional 12,617 shares during the quarter. JPMorgan Chase & Co.’s holdings in BayCom were worth $530,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Royce & Associates LP grew 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. Empowered Funds LLC raised its stake in shares of BayCom by 5.2% during the 3rd quarter. Empowered Funds LLC now owns 32,795 shares of the company’s stock worth $778,000 after acquiring an additional 1,608 shares in the last quarter. Barclays PLC raised 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 in the last quarter. State Street Corp lifted 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. Finally, Captrust Financial Advisors grew its holdings in BayCom by 4.4% in the third quarter. Captrust Financial Advisors now owns 23,361 shares of the company’s stock worth $554,000 after purchasing an additional 978 shares during the last quarter. Hedge funds and other institutional investors own 66.16% of the company’s stock.

BayCom Price Performance

Shares of BCML stock opened at $28.22 on Wednesday. BayCom Corp has a fifty-two week low of $18.54 and a fifty-two week high of $30.13. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.04 and a current ratio of 1.04. The firm has a market capitalization of $313.81 million, a price-to-earnings ratio of 13.44 and a beta of 0.80. The stock’s 50-day simple moving average is $27.51 and its 200-day simple moving average is $25.02.

BayCom (NASDAQ:BCML) last released its earnings results on Thursday, January 23rd. The company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.04. BayCom had a net margin of 17.22% and a return on equity of 7.56%. As a group, equities analysts forecast that BayCom Corp will post 2.06 earnings per share for the current fiscal year.

BayCom Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Thursday, December 12th were paid a $0.15 dividend. This is a positive change from BayCom’s previous quarterly dividend of $0.10. The ex-dividend date was Thursday, December 12th. This represents a $0.60 dividend on an annualized basis and a yield of 2.13%. BayCom’s dividend payout ratio (DPR) is 28.57%.

Wall Street Analysts Forecast Growth

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

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.