BayCom Corp (NASDAQ:BCML – Get Rating) was the target of a sharp drop in short-term interest rates in September. As of September 30, short interest totaled 167,900 shares, down 17.5% from the September 15 total of 203,500 shares. Based on an average trading volume of 53,900 shares, the days-to-cover ratio is currently 3.1 days.
Changes in analyst ratings
Separately, DA Davidson lowered his price target on BayCom to $24.00 in a research note on Monday, July 25.
Insiders place their bets
In other news, Director Robert G. Laverne sold 8,650 shares of the company’s stock in a transaction that took place on Thursday, August 25th. The stock sold at an average price of $19.37 for a total transaction of $167,550.50. Following the transaction, the Director now owns 95,081 shares of the Company, valued at approximately $1,841,718.97. The transaction was disclosed in a filing with the SEC, which is available through the SEC’s website. Company insiders own 6.40% of the company’s shares.
Hedge funds rely on BayCom
Hedge funds have recently bought and sold shares in the company. Bank of America Corp DE increased its position in BayCom by 715.5% in the first quarter. Bank of America Corp DE now owns 1,794 shares of the company, valued at $39,000, after purchasing an additional 1,574 shares last quarter. Dorsey Wright & Associates acquired a new interest in BayCom stock valued at $42,000 during the second quarter. Russell Investments Group Ltd. increased its stake in BayCom shares by 185.0% in the second quarter. Russell Investments Group Ltd. now owns 3,243 shares of the company, valued at $66,000, after purchasing an additional 2,105 shares during the period. BNP Paribas Arbitrage SA increased its stake in BayCom shares by 7,279.0% in the second quarter. BNP Paribas Arbitrage SA now owns 5,977 shares of the company, valued at $124,000, after purchasing an additional 5,896 shares during the period. Finally, American International Group Inc. acquired a new stake in BayCom stock valued at $124,000 during the second quarter. Institutional investors own 58.29% of the company’s shares.
Development of the BayCom share
BayCom stock shares opened at $18.67 on Friday. The stock’s 50-day moving average is $18.70 and the 200-day moving average is $20.52. The company has a market cap of $248.98 million, a P/E of 9.77 and a beta of 0.69. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt to equity ratio of 0.22. BayCom has a 52-week low of $17.52 and a 52-week high of $23.53.
BayCom (NASDAQ:BCML – Get Rating) last announced its quarterly earnings data on Thursday, July 21st. The company reported $0.38 per share for the quarter, missing the consensus estimate of $0.52 ($0.14). The company had revenue of $25.19 million for the quarter, compared to the consensus estimate of $26.80 million. BayCom had a net margin of 21.53% and a return on equity of 7.74%. As a group, analysts expect BayCom to report earnings per share of 2.15 for the current year.
Announcement of the BayCom dividend
The company also recently announced a quarterly dividend, which was paid on Friday, October 14th. Stockholders of record on Friday, September 16 received a dividend of $0.05. That equates to an annualized dividend of $0.20 and a yield of 1.07%. The ex-dividend date was Thursday September 15th. BayCom’s dividend payout ratio (DPR) is currently 10.47%.
BayCom Corp acts as the bank holding company for United Business Bank, which provides various financial services to small and medium-sized businesses, service professionals and individuals. The company offers sight, savings, money market and time deposit accounts. It also offers commercial and multi-family home loans, including owner-occupier and investor home loans; commercial and industrial loans, such as B. equipment credits and working capital lines of credit; small business management loans; construction and real estate loans; agriculture related loans; and consumer credit, which includes installment loans, unsecured and secured personal lines of credit, and bank overdrafts.
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