BayCom Corp (NASDAQ:BCML) Short Interest Up 27.4% in May

BayCom Corp (NASDAQ:BCML - Get Free Report) saw a significant increase in short interest in May. As of May 15th, there was short interest totalling 78,500 shares, an increase of 27.4% from the April 30th total of 61,600 shares. Currently, 0.8% of the shares of the stock are sold short. Based on an average daily volume of 25,100 shares, the days-to-cover ratio is currently 3.1 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of BCML. Wellington Management Group LLP boosted its position in BayCom by 41.6% during the fourth quarter. Wellington Management Group LLP now owns 930,498 shares of the company's stock valued at $24,975,000 after purchasing 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 buying an additional 13,269 shares during the last quarter. Royce & Associates LP lifted its position in shares of BayCom by 11.1% in the fourth quarter. Royce & Associates LP now owns 603,286 shares of the company's stock valued at $16,192,000 after buying an additional 60,075 shares during the last quarter. Alliancebernstein L.P. lifted its position in shares of BayCom by 0.3% in the fourth quarter. Alliancebernstein L.P. now owns 434,799 shares of the company's stock valued at $11,670,000 after buying an additional 1,500 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC lifted its position in shares of BayCom by 9.2% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 127,190 shares of the company's stock valued at $3,201,000 after buying an additional 10,750 shares during the last quarter. 66.16% of the stock is owned by institutional investors and hedge funds.

BayCom Trading Down 0.4%

NASDAQ BCML traded down $0.11 on Wednesday, reaching $26.41. The company had a trading volume of 19,782 shares, compared to its average volume of 24,932. The stock's 50 day moving average is $26.05 and its 200-day moving average is $26.83. The stock has a market cap of $290.69 million, a price-to-earnings ratio of 12.58 and a beta of 0.54. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.22. BayCom has a 52 week low of $18.54 and a 52 week high of $30.13.

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

BayCom Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Thursday, June 12th will be given a dividend of $0.20 per share. This is a boost from BayCom's previous quarterly dividend of $0.15. This represents a $0.80 annualized dividend and a dividend yield of 3.03%. The ex-dividend date of this dividend is Thursday, June 12th. BayCom's dividend payout ratio is currently 38.10%.

Analysts Set New Price Targets

BCML has been the topic of a number of recent analyst reports. Hovde Group lowered BayCom from an "outperform" rating to a "market perform" rating and set a $31.00 price objective on the stock. in a research note on Wednesday, February 12th. Wall Street Zen upgraded BayCom from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd.

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.