BayCom Corp (NASDAQ:BCML) Sees Short Interest Rise by 10.6% in November

BayCom Corp (NASDAQ:BCML) experienced a notable increase in short interest during the month of November. As of November 30th, the total short interest reached 48,200 shares, reflecting a growth of 10.6% compared to the total of 43,600 shares recorded on November 15th. Presently, only 0.5% of the company's total shares are being sold short. With an average trading volume of 22,800 shares, this leads to a short-interest ratio of approximately 2.1 days.

BayCom Stock Performance

As of Friday, December 1st, shares of BayCom opened at $28.87. The stock has seen significant fluctuations over the past year, with a 52-week low of $18.54 and a high of $30.13. Financial metrics show a debt-to-equity ratio of 0.22, a quick ratio of 1.04, and a current ratio of 1.04. The 50-day simple moving average stands at $26.51, while the 200-day average is at $23.40. BayCom has a market capitalization of approximately $321.06 million, a PE ratio of 13.75, and a beta of 0.79.

On October 17th, BayCom released its quarterly earnings report. The company reported earnings of $0.54 per share, exceeding analysts' expectations of $0.47 per share by $0.07. With a net margin of 17.22% and a return on equity of 7.56%, the reported revenue was $25.61 million, surpassing the consensus estimate of $23.70 million. Analysts forecast an earnings per share (EPS) of 2.06 for the current fiscal year.

Dividend Announcement

Recently, the company announced a quarterly dividend that will be distributed on January 10th. Shareholders who are on record as of December 12th will receive a dividend of $0.15 per share. This raises the annual dividend to $0.60, resulting in a yield of 2.08%, up from the previous dividend amount of $0.10. The ex-dividend date has been set for December 12th, with a dividend payout ratio (DPR) of 28.57%.

Institutional Investor Activity

Institutional investors have made adjustments to their holdings in BayCom recently. Panagora Asset Management Inc. acquired a new stake in BayCom worth $211,000 in the second quarter. Martingale Asset Management L P increased its ownership by 20.1% during the third quarter, now holding 23,341 shares valued at $554,000 after acquiring an additional 3,900 shares. Captrust Financial Advisors also boosted its position by 4.4% during the same quarter, owning 23,361 shares worth $554,000. Barclays PLC raised its stake by 61.3% in the third quarter to possess 27,486 shares valued at $651,000 after purchasing an additional 10,442 shares. Similarly, Empowered Funds LLC increased its stake by 5.2%, now owning 32,795 shares worth $778,000 after acquiring an additional 1,608 shares last quarter. Essentially, institutional investors hold approximately 66.16% of BayCom's total stock.

Analyst Ratings and Price Targets

In a separate update, Hovde Group raised their target price for BayCom from $26.00 to $28.00 and assigned the company an “outperform” rating in a report published on October 18th.

About BayCom

BayCom Corp functions as the bank holding company for United Business Bank, offering diverse financial services to small and mid-sized businesses, service professionals, and individuals. The bank provides a range of accounts including demand, savings, money market, and time deposit accounts. It also specializes in various loans such as commercial real estate loans (owner-occupied and investor loans), commercial and industrial loans (equipment loans and working capital), small business administration loans, as well as consumer loans including installment loans and overdraft protection.

BayCom, short, dividend