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

BayCom Corp (NASDAQ:BCML) experienced a marked reduction in short interest for December. By December 15th, the total short interest had fallen to 37,100 shares, representing a 23.0% drop from the previous month’s total of 48,200 shares recorded on November 30th. Currently, about 0.4% of the company's shares are sold short. With an 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 declined by $0.41 to reach $26.77. The trading volume for the day was 27,079 shares, which is higher than the average volume of 23,982 shares. The company's 50-day moving average price is $27.16, while the 200-day moving average is $23.87. BayCom Corp has a market capitalization of approximately $297.71 million and a price-to-earnings ratio of 12.75, with a beta value of 0.79. The debt-to-equity ratio is 0.22, and both the quick ratio and current ratio are at 1.04. Over the past year, the stock has seen a low of $18.54 and a high of $30.13.

BayCom (NASDAQ:BCML) last reported its quarterly earnings on Thursday, October 17th. The company announced earnings per share (EPS) of $0.54, surpassing the consensus estimate of $0.47 by $0.07. BayCom achieved a return on equity of 7.56% and a net margin of 17.22%. For the quarter, the revenue reached $25.61 million, exceeding analysts' expectations of $23.70 million. Analysts predict that BayCom will report an EPS of 2.06 for the current fiscal year.

BayCom Increases Dividend

The company recently declared a quarterly dividend scheduled for distribution on Friday, January 10th. Shareholders on record as of Thursday, December 12th, will receive a dividend of $0.15, which marks an increase from the previous quarterly dividend of $0.10. This translates to an annual dividend of $0.60, yielding 2.24%. The ex-dividend date was also December 12th, and the dividend payout ratio (DPR) stands at 28.57%.

Analysts Set New Price Targets

In a separate report, Hovde Group raised their price target on BayCom shares from $26.00 to $28.00, assigning the stock an "outperform" rating.

Institutional Investors Weigh In On BayCom

Recently, several institutional investors and hedge funds have adjusted their holdings in BayCom. Royce & Associates LP increased its stake in the company by 11.5% in the third quarter, now owning 543,211 shares valued at $12,885,000 after acquiring an additional 56,066 shares. Dimensional Fund Advisors LP raised its holdings by 2.7% in the second quarter, currently holding 594,015 shares valued at $12,088,000 after purchasing 15,798 more shares last quarter. JPMorgan Chase & Co. grew its position in BayCom by 129.9% during the third quarter, now owning 22,330 shares worth $530,000 after buying an additional 12,617 shares. Acadian Asset Management LLC boosted its stake by 5.8% in the second quarter, reaching a total of 209,844 shares valued at $4,268,000, following an additional purchase of 11,484 shares. Additionally, Barclays PLC increased its stake by 61.3% in the third quarter, owning 27,486 shares worth $651,000 after acquiring 10,442 additional shares during this period. Overall, institutional investors control 66.16% of BayCom's stock.

BayCom Company Profile

BayCom Corp operates as the bank holding company for United Business Bank, providing a range of financial services to small and medium-sized enterprises, professionals, and individuals. The company offers various types of accounts, including demand, savings, money market, and time deposit accounts. Its lending services include multifamily and commercial real estate loans, industrial loans, small business administration loans, construction loans, agriculture loans, and consumer loans comprised of both secured and unsecured lines of credit.

BayCom, Stocks, ShortInterest