Short Interest in BayCom Corp (NASDAQ:BCML) Decreases By 23%

BayCom Corp (NASDAQ:BCML) experienced a notable decrease in short interest for December. As of December 15th, the total short interest was 37,100 shares, representing a substantial decline of 23.0% from the previous total of 48,200 shares recorded on November 30th. Currently, around 0.4% of the company’s shares are sold short. Given the average daily trading volume of 26,500 shares, the days-to-cover ratio stands at 1.4 days.

BayCom Stock Performance

On Friday, shares of NASDAQ:BCML saw a decrease of $0.41, bringing the stock's price down to $26.77. A total of 27,079 shares were traded, surpassing the average trading volume of 23,982 shares. BayCom Corp's 50-day moving average price is noted at $27.16, while the 200-day moving average price is $23.87. Presently, the firm maintains a market capitalization of $297.71 million with a price-to-earnings ratio of 12.75 and a beta of 0.79. The company's debt-to-equity ratio is 0.22, with both its quick and current ratios recorded at 1.04. Over the past year, BayCom's stock reached a low of $18.54 and a high of $30.13.

BayCom Corp recently disclosed its quarterly earnings results on October 17th. The company reported earnings of $0.54 per share (EPS) for the quarter, which exceeded analysts' expectations of $0.47 by $0.07. BayCom's return on equity was recorded at 7.56%, while its net margin stood at 17.22%. The firm's revenue for the quarter was reported at $25.61 million, which was above the analysts' estimation of $23.70 million. Analysts anticipate that BayCom will achieve an EPS of 2.06 for the current year.

BayCom Increases Dividend

Additionally, the company has announced a quarterly dividend of $0.15, set to be paid on January 10th. Shareholders on record as of December 12th will qualify for this dividend, which is an increase from the previous quarterly dividend of $0.10. This amounts to an annualized dividend of $0.60, yielding a rate of 2.24%. The ex-dividend date was also December 12th. BayCom’s dividend payout ratio is calculated to be 28.57%.

Analysts Set New Price Targets

In separate news, analysts at Hovde Group have raised their price target for BayCom shares from $26.00 to $28.00, assigning the stock an “outperform” rating in a research note dated October 18th.

Institutional Investors Weigh In On BayCom

Several institutional investors and hedge funds have recently adjusted their positions in BayCom. Royce & Associates LP strengthened its stake in the company by 11.5% during the third quarter, resulting in ownership of 543,211 shares valued at approximately $12,885,000 after acquiring an additional 56,066 shares. Dimensional Fund Advisors LP also raised its holdings by 2.7% in the second quarter, with a total of 594,015 shares worth around $12,088,000 after purchasing 15,798 additional shares. Another institutional investor, JPMorgan Chase & Co., increased its position by 129.9% in the third quarter, now owning 22,330 shares valued at $530,000 after an additional purchase of 12,617 shares. Acadian Asset Management LLC expanded its stake by 5.8% in the second quarter, bringing its total to 209,844 shares valued at $4,268,000 after acquiring an additional 11,484 shares. Lastly, Barclays PLC augmented its holdings by 61.3% in the third quarter, now owning 27,486 shares valued at $651,000. Institutional investors currently own 66.16% of BayCom's shares.

BayCom Company Profile

BayCom Corp operates as the bank holding company for United Business Bank, offering various financial services aimed at small and mid-sized businesses, service professionals, and individuals. The company provides demand, savings, money market, and time deposit accounts, as well as loans for commercial and multifamily real estate, small business administration, equipment, construction, agriculture, and consumer needs.

BayCom, stocks, dividend