Cerity Partners LLC Sells 19,999 Shares of BayCom Corp (NASDAQ:BCML)

Cerity Partners LLC reduced its holdings in BayCom Corp (NASDAQ:BCML - Free Report) by 19.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 82,708 shares of the company's stock after selling 19,999 shares during the quarter. Cerity Partners LLC owned 0.74% of BayCom worth $2,220,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. State Street Corp increased its stake in BayCom by 0.5% in the 3rd quarter. State Street Corp now owns 163,965 shares of the company's stock worth $3,906,000 after purchasing an additional 880 shares in the last quarter. Barclays PLC boosted its holdings in shares of BayCom by 61.3% in the third quarter. Barclays PLC now owns 27,486 shares of the company's stock worth $651,000 after buying an additional 10,442 shares during the period. JPMorgan Chase & Co. increased its position in shares of BayCom by 129.9% in the third quarter. JPMorgan Chase & Co. now owns 22,330 shares of the company's stock worth $530,000 after acquiring an additional 12,617 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of BayCom during the fourth quarter valued at approximately $422,000. Finally, SG Americas Securities LLC acquired a new position in BayCom in the 4th quarter worth approximately $120,000. 66.16% of the stock is owned by institutional investors and hedge funds.

BayCom Stock Down 0.2 %

BayCom stock traded down $0.05 during mid-day trading on Monday, hitting $25.93. The company's stock had a trading volume of 29,602 shares, compared to its average volume of 24,461. BayCom Corp has a 52-week low of $18.54 and a 52-week high of $30.13. The company has a market cap of $288.60 million, a PE ratio of 12.35 and a beta of 0.50. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.04 and a quick ratio of 1.04. The firm's 50 day moving average is $25.95 and its 200 day moving average is $26.52.

BayCom (NASDAQ:BCML - Get Free Report) last posted its quarterly earnings results on Thursday, April 17th. The company reported $0.51 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.52 by ($0.01). BayCom had a return on equity of 7.45% and a net margin of 17.10%. The company had revenue of $32.65 million during the quarter, compared to analysts' expectations of $24.07 million. On average, analysts anticipate that BayCom Corp will post 2.48 earnings per share for the current year.

BayCom Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 10th. Shareholders of record on Thursday, March 13th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date of this dividend was Thursday, March 13th. BayCom's dividend payout ratio (DPR) is currently 28.57%.

Insider Activity

In related news, CEO George J. Guarini sold 27,000 shares of BayCom stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $27.50, for a total transaction of $742,500.00. Following the completion of the sale, the chief executive officer now owns 46,759 shares of the company's stock, valued at approximately $1,285,872.50. This trade represents a 36.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 7.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Separately, Hovde Group downgraded shares of BayCom from an "outperform" rating to a "market perform" rating and set a $31.00 target price on the stock. in a research note on Wednesday, February 12th.

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.