BayCom Corp (NASDAQ:BCML) Short Interest Up 10.6% in November

BayCom Corp (NASDAQ:BCML) was the recipient of a large increase in short interest in November. As of November 30th, there was short interest totalling 48,200 shares, an increase of 10.6% from the November 15th total of 43,600 shares. Based on an average daily trading volume, of 22,800 shares, the short-interest ratio is currently 2.1 days. Approximately 0.5% of the shares of the company are sold short.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of BCML. Panagora Asset Management Inc. bought a new position in BayCom during the 2nd quarter worth about $211,000. Captrust Financial Advisors raised its stake 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 buying an additional 978 shares in the last quarter. Martingale Asset Management L P lifted 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 worth $554,000 after buying an additional 3,900 shares during the period. Barclays PLC boosted its position in BayCom by 61.3% during 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 in the last quarter. Finally, Empowered Funds LLC raised its holdings in BayCom by 5.2% in the third quarter. Empowered Funds LLC now owns 32,795 shares of the company’s stock worth $778,000 after purchasing an additional 1,608 shares in the last quarter. 66.16% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

BayCom Stock Up 1.4 %

Shares of BCML opened at $29.26 on Tuesday. The business’s 50 day moving average is $26.63 and its 200 day moving average is $23.49. 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 12-month low of $18.54 and a 12-month high of $30.13. The company has a market capitalization of $325.40 million, a PE ratio of 13.93 and a beta of 0.79.

BayCom (NASDAQ:BCML) last posted its earnings results on Thursday, October 17th. The company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.07. The company had revenue of $25.61 million during the quarter, compared to analysts’ expectations of $23.70 million. BayCom had a net margin of 17.22% and a return on equity of 7.56%. Research analysts expect that BayCom will post 2.06 earnings per share for the current fiscal year.

BayCom Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Thursday, December 12th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 2.05%. This is a boost from BayCom’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Thursday, December 12th. BayCom’s dividend payout ratio is 28.57%.

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.