BayCom Corp (NASDAQ:BCML) Short Interest Down 23.4% in August

BayCom Corp (NASDAQ:BCML) was the target of a large drop in short interest in August. As of August 31st, there was short interest totalling 72,200 shares, a drop of 23.4% from the July 31st total of 94,200 shares. Based on an average daily volume of 14,900 shares, the short-interest ratio is currently 4.8 days. Approximately 0.7% of the company’s stock are short sold.

BCML stock traded down $1.04 during mid-day trading on Friday, hitting $22.95. 4,788 shares of the company were exchanged, compared to its average volume of 17,741. The company has a market capitalization of $263.58 million, a PE ratio of 13.91, a price-to-earnings-growth ratio of 1.08 and a beta of 0.37. BayCom has a twelve month low of $17.19 and a twelve month high of $26.75. The firm has a fifty day simple moving average of $21.96 and a 200 day simple moving average of $22.51.

BayCom (NASDAQ:BCML) last announced its quarterly earnings data on Friday, July 26th. The company reported $0.47 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.53 by ($0.06). The business had revenue of $18.56 million for the quarter, compared to the consensus estimate of $19.48 million. On average, equities research analysts expect that BayCom will post 2.02 EPS for the current year.



BCML has been the subject of several recent analyst reports. Zacks Investment Research lowered shares of BayCom from a “hold” rating to a “sell” rating in a report on Wednesday. B. Riley set a $28.00 price objective on shares of BayCom and gave the stock a “buy” rating in a report on Friday, September 6th. Finally, ValuEngine raised shares of BayCom from a “sell” rating to a “hold” rating in a report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company’s stock. BayCom presently has a consensus rating of “Hold” and a consensus target price of $26.17.

Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. lifted its position in shares of BayCom by 3.0% in the 2nd quarter. BlackRock Inc. now owns 522,280 shares of the company’s stock worth $11,438,000 after buying an additional 15,413 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of BayCom by 2.8% in the 2nd quarter. Vanguard Group Inc. now owns 458,450 shares of the company’s stock worth $10,041,000 after buying an additional 12,577 shares during the last quarter. Mendon Capital Advisors Corp lifted its position in shares of BayCom by 10.5% in the 2nd quarter. Mendon Capital Advisors Corp now owns 198,391 shares of the company’s stock worth $4,345,000 after buying an additional 18,824 shares during the last quarter. Royce & Associates LP lifted its position in shares of BayCom by 40.2% in the 1st quarter. Royce & Associates LP now owns 121,982 shares of the company’s stock worth $2,762,000 after buying an additional 35,000 shares during the last quarter. Finally, Covington Capital Management bought a new position in shares of BayCom in the 2nd quarter worth about $2,266,000. Institutional investors own 58.28% of the company’s stock.

About BayCom

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.

Further Reading: Outperform Rating

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