BayCom Corp (NASDAQ:BCML) was the recipient of a significant decline in short interest during the month of August. As of August 31st, there was short interest totalling 72,200 shares, a decline of 23.4% from the July 31st total of 94,200 shares. Based on an average trading volume of 14,900 shares, the short-interest ratio is currently 4.8 days. Currently, 0.7% of the shares of the stock are short sold.
BCML traded down $1.04 during trading on Friday, reaching $22.95. 4,788 shares of the company were exchanged, compared to its average volume of 17,741. The company has a market cap of $263.58 million, a price-to-earnings ratio of 13.91, a P/E/G ratio of 1.08 and a beta of 0.37. The company’s 50-day moving average is $21.96 and its two-hundred day moving average is $22.51. BayCom has a 12-month low of $17.19 and a 12-month high of $26.75.
BayCom (NASDAQ:BCML) last announced its quarterly earnings data on Friday, July 26th. The company reported $0.47 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.06). The firm had revenue of $18.56 million during the quarter, compared to analysts’ expectations of $19.48 million. Equities analysts predict that BayCom will post 2.02 earnings per share for the current year.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. raised its holdings in shares of BayCom by 3.4% in the second quarter. Russell Investments Group Ltd. now owns 21,284 shares of the company’s stock valued at $466,000 after buying an additional 692 shares during the last quarter. Bank of Montreal Can lifted its position in BayCom by 66.4% during the 2nd quarter. Bank of Montreal Can now owns 2,319 shares of the company’s stock valued at $51,000 after purchasing an additional 925 shares during the period. Acadian Asset Management LLC lifted its position in BayCom by 1.4% during the 2nd quarter. Acadian Asset Management LLC now owns 68,318 shares of the company’s stock valued at $1,497,000 after purchasing an additional 954 shares during the period. Charles Schwab Investment Management Inc. lifted its position in BayCom by 4.9% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 24,057 shares of the company’s stock valued at $527,000 after purchasing an additional 1,113 shares during the period. Finally, BNP Paribas Arbitrage SA increased its stake in shares of BayCom by 513.3% in the 1st quarter. BNP Paribas Arbitrage SA now owns 2,165 shares of the company’s stock valued at $49,000 after acquiring an additional 1,812 shares during the last quarter. Institutional investors own 58.28% of the company’s stock.
A number of brokerages have recently commented on BCML. ValuEngine raised BayCom from a “sell” rating to a “hold” rating in a research note on Wednesday, July 31st. B. Riley set a $28.00 price objective on BayCom and gave the stock a “buy” rating in a research note on Friday, September 6th. Finally, Zacks Investment Research lowered BayCom from a “hold” rating to a “sell” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $26.17.
BayCom Company Profile
BayCom Corp operates as the bank holding company for United Business Bank that provides various financial services to businesses, business owners, and individuals. The company offers demand, savings, money market, and time deposit accounts. It also provides commercial and multi-family real estate loans, including owner-occupied and investor real estate loans; 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 comprising installment loans, unsecured and secured personal lines of credit, and overdraft protection.
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