Short Interest in BayCom Corp (NASDAQ:BCML) Drops By 20.0%

BayCom Corp (NASDAQ:BCML) was the target of a large decline in short interest during the month of March. As of March 31st, there was short interest totalling 75,800 shares, a decline of 20.0% from the March 15th total of 94,700 shares. Based on an average daily volume of 22,700 shares, the short-interest ratio is currently 3.3 days.

Hedge Funds Weigh In On BayCom

Large investors have recently modified their holdings of the business. Assenagon Asset Management S.A. acquired a new position in BayCom during the third quarter worth about $442,000. O Shaughnessy Asset Management LLC acquired a new stake in shares of BayCom in the 3rd quarter worth approximately $281,000. SG Americas Securities LLC acquired a new position in BayCom during the third quarter worth $105,000. Wells Fargo & Company MN boosted its position in BayCom by 108.1% during the second quarter. Wells Fargo & Company MN now owns 4,511 shares of the company’s stock worth $75,000 after purchasing an additional 2,343 shares in the last quarter. Finally, UBS Group AG grew its holdings in BayCom by 499.6% in the fourth quarter. UBS Group AG now owns 3,286 shares of the company’s stock valued at $62,000 after purchasing an additional 2,738 shares during the last quarter. 66.16% of the stock is owned by hedge funds and other institutional investors.

BayCom Stock Performance

Shares of BCML traded down $0.15 during mid-day trading on Monday, reaching $19.77. 25,687 shares of the company’s stock were exchanged, compared to its average volume of 22,654. The business’s fifty day simple moving average is $20.02 and its 200-day simple moving average is $20.78. The stock has a market capitalization of $226.74 million, a PE ratio of 8.79 and a beta of 0.76. BayCom has a 52-week low of $15.02 and a 52-week high of $24.31. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.05 and a quick ratio of 1.05.

BayCom (NASDAQ:BCML) last posted its quarterly earnings data on Thursday, January 25th. The company reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.02). BayCom had a net margin of 20.33% and a return on equity of 8.80%. The business had revenue of $26.20 million during the quarter, compared to analyst estimates of $25.90 million. On average, equities research analysts expect that BayCom will post 2.26 earnings per share for the current year.

BayCom Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Saturday, March 16th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 2.02%. The ex-dividend date of this dividend was Thursday, March 14th. BayCom’s payout ratio is 17.78%.

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.