Short Interest in BayCom Corp (NASDAQ:BCML) Decreases By 17.5%

BayCom Corp (NASDAQ:BCML - Get Free Report) was the target of a significant decrease in short interest during the month of April. As of April 15th, there was short interest totalling 62,500 shares, a decrease of 17.5% from the March 31st total of 75,800 shares. Based on an average daily trading volume, of 24,800 shares, the short-interest ratio is presently 2.5 days.

BayCom Price Performance

Shares of NASDAQ BCML traded up $0.04 during mid-day trading on Friday, reaching $20.15. The company's stock had a trading volume of 27,955 shares, compared to its average volume of 24,604. The stock has a 50-day moving average of $20.00 and a two-hundred day moving average of $20.81. The stock has a market capitalization of $231.12 million, a P/E ratio of 9.12 and a beta of 0.76. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.05 and a current ratio of 1.05. BayCom has a 1-year low of $15.02 and a 1-year high of $24.31.

BayCom (NASDAQ:BCML - Get Free Report) last issued its earnings results on Thursday, January 25th. The company reported $0.55 EPS for the quarter, missing analysts' consensus estimates of $0.57 by ($0.02). The business had revenue of $26.20 million during the quarter, compared to analyst estimates of $25.90 million. BayCom had a net margin of 19.27% and a return on equity of 8.45%. On average, equities research analysts anticipate that BayCom will post 1.98 EPS for the current fiscal year.

BayCom Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Saturday, March 16th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date was Thursday, March 14th. BayCom's dividend payout ratio is currently 18.10%.

Institutional Investors Weigh In On BayCom

A number of hedge funds have recently modified their holdings of BCML. LSV Asset Management purchased a new stake in shares of BayCom in the fourth quarter valued at about $717,000. Los Angeles Capital Management LLC purchased a new stake in shares of BayCom in the fourth quarter valued at about $615,000. Assenagon Asset Management S.A. purchased a new stake in shares of BayCom in the third quarter valued at about $442,000. O Shaughnessy Asset Management LLC purchased a new position in BayCom during the third quarter worth about $281,000. Finally, SG Americas Securities LLC purchased a new position in BayCom during the third quarter worth about $105,000. Hedge funds and other institutional investors own 66.16% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Hovde Group started coverage on shares of BayCom in a research report on Monday, April 22nd. They issued an "outperform" rating and a $24.00 target price for the company.

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.