BayCom Corp (NASDAQ:BCML – Get Rating) was the recipient of a large growth in short interest in the month of December. As of December 15th, there was short interest totalling 106,800 shares, a growth of 16.0% from the November 30th total of 92,100 shares. Based on an average daily volume of 32,200 shares, the short-interest ratio is currently 3.3 days.
Wall Street Analyst Weigh In
Separately, DA Davidson upped their price target on shares of BayCom to $23.50 in a research note on Thursday, October 27th.
BayCom Price Performance
Shares of NASDAQ:BCML traded down $0.05 during trading on Friday, reaching $18.98. The company had a trading volume of 9,746 shares, compared to its average volume of 28,620. BayCom has a twelve month low of $17.52 and a twelve month high of $23.53. The firm has a market capitalization of $246.36 million, a PE ratio of 9.78 and a beta of 0.69. The firm’s fifty day moving average is $19.00 and its 200 day moving average is $19.25. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.06 and a current ratio of 1.06.
BayCom (NASDAQ:BCML – Get Rating) last released its earnings results on Thursday, October 20th. The company reported $0.54 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.06). BayCom had a net margin of 22.02% and a return on equity of 7.98%. On average, equities analysts forecast that BayCom will post 2.09 EPS for the current year.
BayCom Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 13th. Investors of record on Friday, December 16th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.05%. The ex-dividend date is Thursday, December 15th. BayCom’s dividend payout ratio is presently 10.31%.
Insider Buying and Selling at BayCom
In other BayCom news, Director Robert G. Laverne sold 10,000 shares of the business’s stock in a transaction dated Thursday, November 10th. The shares were sold at an average price of $19.65, for a total transaction of $196,500.00. Following the completion of the transaction, the director now directly owns 85,081 shares of the company’s stock, valued at approximately $1,671,841.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 6.40% of the stock is currently owned by company insiders.
Institutional Trading of BayCom
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Farmers & Merchants Investments Inc. acquired a new stake in BayCom during the third quarter valued at approximately $27,000. Bank of America Corp DE raised its holdings in shares of BayCom by 715.5% during the first quarter. Bank of America Corp DE now owns 1,794 shares of the company’s stock valued at $39,000 after acquiring an additional 1,574 shares during the period. Dorsey Wright & Associates acquired a new stake in shares of BayCom during the second quarter valued at approximately $42,000. Russell Investments Group Ltd. raised its holdings in shares of BayCom by 185.0% during the second quarter. Russell Investments Group Ltd. now owns 3,243 shares of the company’s stock valued at $66,000 after acquiring an additional 2,105 shares during the period. Finally, Allspring Global Investments Holdings LLC acquired a new stake in shares of BayCom during the third quarter valued at approximately $60,000. 57.75% of the stock is owned by institutional investors and hedge funds.
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 offers demand, savings, money market, and time deposit accounts. It also provides 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.
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