BayCom Corp (NASDAQ: BCML) Sees Significant Short Interest Increase

BayCom Corp (NASDAQ: BCML) experienced a notable rise in short interest during November. By the end of the month on November 30th, short interest reached a total of 48,200 shares, marking an increase of 10.6% from the November 15th figure of 43,600 shares. Currently, this short interest accounts for 0.5% of the company's overall shares. With an average trading volume of 22,800 shares, the current short-interest ratio is 2.1 days.

BayCom Stock Performance

The stock price for BayCom (NASDAQ: BCML) was recorded at $28.87 on Friday. The company's stock has a 52-week low of $18.54 and a 52-week high of $30.13. BayCom maintains a debt-to-equity ratio of 0.22, with both a quick ratio and a current ratio standing at 1.04. Furthermore, the company's 50-day and 200-day simple moving averages are $26.51 and $23.40, respectively. BayCom has a market capitalization of $321.06 million, a PE ratio of 13.75, and a beta of 0.79.

Recently, BayCom (NASDAQ: BCML) announced its quarterly earnings on October 17th. The company reported earnings of $0.54 per share for the quarter, outperforming the consensus estimate of $0.47 by $0.07. BayCom's net margin stands at 17.22%, while its return on equity is 7.56%. The firm generated revenues of $25.61 million in this quarter, which surpasses the anticipated estimate of $23.70 million. Research analysts forecast that BayCom will achieve an EPS of 2.06 for the ongoing year.

BayCom Increases Dividend

In recent announcements, BayCom has declared a quarterly dividend of $0.15, set to be paid on January 10th. This dividend will be issued to shareholders on record as of December 12th, leading to an annualized dividend payout of $0.60 and a yield of 2.08%. This new amount is an increase from the prior quarterly dividend of $0.10. The ex-dividend date is also on December 12th. The current dividend payout ratio for BayCom is 28.57%.

Institutional Investors Weigh In On BayCom

Recently, large institutional investors have adjusted their stakes in BayCom Corp. For example, Panagora Asset Management Inc. made a new investment in BayCom worth $211,000 in the second quarter. Martingale Asset Management L P boosted its stake by 20.1% during the third quarter and now holds 23,341 shares valued at $554,000 after acquiring an additional 3,900 shares. Captrust Financial Advisors also increased its holdings by 4.4% during the same period, owning 23,361 shares worth $554,000 after their purchase. Barclays PLC significantly increased its investment in BayCom by 61.3% and now possesses 27,486 shares valued at $651,000 after an additional purchase of 10,442 shares. Lastly, Empowered Funds LLC raised its stake by 5.2% and currently owns 32,795 shares worth $778,000 after acquiring an extra 1,608 shares. Overall, institutional investors control 66.16% of BayCom's stock.

Analysts Set New Price Targets

Navigating the recent movements in BayCom, Hovde Group raised their target price on the stock from $26.00 to $28.00, while rating the company as "outperform" in a report published on October 18th.

About BayCom

BayCom Corp serves as the banking holding company for United Business Bank, offering a range of financial services to small and medium-sized businesses, service professionals, and individual clients. Their services include demand, savings, money market, and time deposit accounts. Moreover, the company provides various types of loans, including those for commercial and multifamily real estate, commercial and industrial loans, small business administration loans, construction and land loans, agriculture-related loans, and consumer loans such as personal lines of credit and overdraft protection.

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