Short Interest in BayCom Corp (NASDAQ:BCML) Decreases By 23.0%

BayCom Corp (NASDAQ:BCML - Get Free Report) experienced a notable reduction in short interest for the month of December. As of December 15th, the total short interest was recorded at 37,100 shares, marking a decrease of 23.0% from the previous count of 48,200 shares on November 30th. This indicates that approximately 0.4% of the company's shares are currently 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

Recently, shares of NASDAQ:BCML fell by $0.41, bringing the price to $26.77 on Friday. A total of 27,079 shares were traded, exceeding the average volume of 23,982 shares. The company's 50-day moving average is $27.16, while the two-hundred-day moving average is $23.87. BayCom has a market capitalization of $297.71 million and a price-to-earnings ratio of 12.75, with a beta of 0.79. Additionally, the debt-to-equity ratio is 0.22, and both the quick ratio and current ratio are 1.04. Over the past year, BayCom's stock has reached a low of $18.54 and a high of $30.13.

BayCom last announced its quarterly earnings on Thursday, October 17th. The company reported earnings per share (EPS) of $0.54, surpassing the expected EPS of $0.47 by $0.07. BayCom boasted a return on equity of 7.56% and a net margin of 17.22%. The firm's revenue for the quarter was $25.61 million, exceeding analyst estimates of $23.70 million. Analysts predict that BayCom will achieve earnings of 2.06 per share for the current year.

BayCom Increases Dividend

Moreover, the company declared a quarterly dividend set to be paid on Friday, January 10th. Shareholders recorded on Thursday, December 12th, will receive a dividend of $0.15, an increase from the previous $0.10 dividend. This adjustment translates to an annual dividend of $0.60, resulting in a yield of 2.24%. The ex-dividend date was December 12th, and BayCom's dividend payout ratio (DPR) is currently 28.57%.

Analysts Set New Price Targets

In recent developments, the Hovde Group adjusted their price target for BayCom shares from $26.00 to $28.00, awarding the stock an "outperform" rating based on a research note released on Friday, October 18th.

Get Our Latest Report on BCML

Institutional Investors Weigh In On BayCom

Several institutional investors and hedge funds have made notable adjustments to their holdings of BayCom shares. Royce & Associates LP increased its holdings by 11.5% during the third quarter, now owning 543,211 shares worth approximately $12,885,000 after acquiring an additional 56,066 shares. Similarly, Dimensional Fund Advisors LP raised its share count by 2.7% in the second quarter, holding 594,015 shares valued at $12,088,000 after purchasing 15,798 shares. JPMorgan Chase & Co. boosted its position in BayCom by 129.9% during the third quarter, now owning 22,330 shares worth $530,000 after buying 12,617 shares. Acadian Asset Management LLC increased its position by 5.8% in the second quarter, holding 209,844 shares valued at $4,268,000 after acquiring an additional 11,484 shares. Lastly, Barclays PLC expanded its position in BayCom by 61.3% in the third quarter, now owning 27,486 shares worth $651,000. Overall, institutional investors control 66.16% of the company's shares.

BayCom Company Profile

(Get Free Report)

BayCom Corp functions as the parent company of United Business Bank, offering a variety of financial services aimed at small and mid-sized businesses, service professionals, and individuals. The bank provides demand, savings, money market, and time deposit accounts. It also extends loans for commercial and multifamily real estate, as well as commercial and industrial loans, such as equipment loans and working capital lines of credit. Furthermore, it offers small business administration loans, loans for construction and land, agriculture-related loans, and consumer loans that encompass installment loans, personal lines of credit, and overdraft protection.

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This instant news alert was generated by narrative science technology and financial data to provide readers with fast and precise reporting. This article was reviewed prior to publication.

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