BayCom Corp (NASDAQ:BCML) Sees Large Drop in Short Interest

BayCom Corp (NASDAQ:BCML) saw a significant drop in short interest in February. As of February 28th, there was short interest totalling 41,500 shares, a drop of 19.4% from the February 13th total of 51,500 shares. Approximately 0.4% of the shares of the company are short sold. Based on an average trading volume of 27,400 shares, the days-to-cover ratio is currently 1.5 days.

Insider Activity at BayCom

In other news, CEO George J. Guarini sold 27,000 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $27.50, for a total transaction of $742,500.00. Following the sale, the chief executive officer now owns 46,759 shares of the company’s stock, valued at $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 is available through this link. 7.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Wellington Management Group LLP boosted its holdings in BayCom by 41.6% in the 4th quarter. Wellington Management Group LLP now owns 930,498 shares of the company’s stock worth $24,975,000 after buying an additional 273,135 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of BayCom by 2.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 615,795 shares of the company’s stock valued at $16,528,000 after acquiring an additional 13,269 shares in the last quarter. Royce & Associates LP boosted its stake in shares of BayCom by 11.1% in the fourth quarter. Royce & Associates LP now owns 603,286 shares of the company’s stock worth $16,192,000 after acquiring an additional 60,075 shares during the last quarter. Alliancebernstein L.P. increased its position in shares of BayCom by 0.3% during the fourth quarter. Alliancebernstein L.P. now owns 434,799 shares of the company’s stock worth $11,670,000 after purchasing an additional 1,500 shares in the last quarter. Finally, State Street Corp raised its stake in BayCom by 0.5% in the 3rd quarter. State Street Corp now owns 163,965 shares of the company’s stock valued at $3,906,000 after purchasing an additional 880 shares during the last quarter. Institutional investors and hedge funds own 66.16% of the company’s stock.

BayCom Stock Performance

NASDAQ BCML opened at $25.24 on Wednesday. The stock has a market capitalization of $280.69 million, a price-to-earnings ratio of 12.02 and a beta of 0.82. The stock has a 50-day moving average of $27.00 and a 200 day moving average of $26.13. 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 has a twelve month low of $18.54 and a twelve month high of $30.13.

BayCom (NASDAQ:BCML) last announced 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 return on equity of 7.45% and a net margin of 17.10%. Sell-side analysts anticipate that BayCom will post 2.48 EPS for the current fiscal year.

BayCom Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Thursday, March 13th will be given a $0.15 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $0.60 annualized dividend and a dividend yield of 2.38%. BayCom’s dividend payout ratio (DPR) is 28.57%.

Analyst Ratings Changes

Separately, Hovde Group cut shares of BayCom from an “outperform” rating to a “market perform” rating and set a $31.00 price objective for the company. in a report on Wednesday, February 12th.

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.