BayCom Corp (NASDAQ:BCML) Short Interest Up 253.0% in March
BayCom Corp (NASDAQ: BCML – Get a rating) saw a sharp rise in short-term interest rates in March. As of March 31, there was short interest totaling 110,500 shares, an increase of 253.0% from the March 15 total of 31,300 shares. Based on an average daily volume of 56,100 shares, the day-to-cover ratio is currently 2.0 days.
Separately, Zacks Investment Research upgraded BayCom from a “hold” rating to a “buy” rating and set a price target of $24.00 on the stock in a Tuesday, April 5 report.
BayCom Stock opened at $21.69 on Friday. The stock’s 50-day moving average is $22.13 and its 200-day moving average is $20.17. The company has a market cap of $296.94 million, a price-earnings ratio of 11.36, and a beta of 0.81. The company has a debt ratio of 0.27, a current ratio of 1.03 and a quick ratio of 1.03. BayCom has a 12-month low of $16.47 and a 12-month high of $23.52.
Bay Com (NASDAQ: BCML – Get a rating) last released its quarterly earnings data on Thursday, January 27. The company reported EPS of $0.51 for the quarter, beating analysts’ consensus estimate of $0.50 by $0.01. The company posted revenue of $21.77 million for the quarter, versus a consensus estimate of $21.00 million. BayCom had a return on equity of 8.06% and a net margin of 22.28%. Research analysts expect BayCom to post EPS of 1.9 for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, April 15. Investors of record on Friday, March 11 will receive a dividend of $0.05 per share. The ex-date of this dividend is Thursday, March 10. This represents an annualized dividend of $0.20 and a dividend yield of 0.92%. BayCom’s current payout ratio is 10.47%.
Several large investors have recently changed their positions in the stock. The Manufacturers Life Insurance Company increased its equity stake in BayCom by 1.1% during the fourth quarter. The Manufacturers Life Insurance Company now owns 710,900 shares of the company valued at $13,336,000 after purchasing an additional 7,647 shares during the period. The Manufacturers Life Insurance Company increased its equity stake in BayCom by 18.3% during the third quarter. The Manufacturers Life Insurance Company now owns 703,253 shares of the company valued at $13,081,000 after purchasing an additional 108,705 shares during the period. Alliancebernstein LP increased its stake in BayCom by 0.9% during the third quarter. Alliancebernstein LP now owns 306,906 shares of the company valued at $5,708,000 after buying 2,607 additional shares last quarter. Royce & Associates LP increased its stake in BayCom by 7.2% during the 4th quarter. Royce & Associates LP now owns 254,131 shares of the company valued at $4,767,000 after purchasing an additional 17,149 shares last quarter. Finally, Victory Capital Management Inc. increased its stake in BayCom by 30.1% during the 4th quarter. Victory Capital Management Inc. now owns 169,247 shares of the company valued at $3,175,000 after purchasing an additional 39,110 shares last quarter. Institutional investors and hedge funds own 53.08% of the company’s shares.
BayCom Company Profile (Get a rating)
BayCom Corp operates as a bank holding company for United Business Bank which provides various financial services to corporations, business owners and individuals. The company offers current, savings, money market and term accounts. It also offers commercial and multi-family real estate loans, including home loans for homeowners and investors; 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 including installment loans, secured and unsecured personal lines of credit and overdraft protection.
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