BayCom Corp (NASDAQ:BCML) Short Interest Update

BayCom Corp (NASDAQ:BCML) was the recipient of a large decrease in short interest in the month of November. As of November 29th, there was short interest totalling 20,100 shares, a decrease of 28.2% from the November 14th total of 28,000 shares. Approximately 0.2% of the company’s shares are sold short. Based on an average trading volume of 37,000 shares, the days-to-cover ratio is currently 0.5 days.

Several large investors have recently bought and sold shares of BCML. Bank of Montreal Can boosted its stake in shares of BayCom by 66.4% in 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 last quarter. Panagora Asset Management Inc. boosted its stake in shares of BayCom by 20.9% in the 2nd quarter. Panagora Asset Management Inc. now owns 14,408 shares of the company’s stock valued at $316,000 after purchasing an additional 2,487 shares during the last quarter. Rhumbline Advisers boosted its stake in BayCom by 7.2% during the third quarter. Rhumbline Advisers now owns 15,348 shares of the company’s stock worth $349,000 after acquiring an additional 1,034 shares in the last quarter. California State Teachers Retirement System boosted its stake in BayCom by 4.8% during the third quarter. California State Teachers Retirement System now owns 16,948 shares of the company’s stock worth $385,000 after acquiring an additional 772 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in BayCom by 3.4% during the second quarter. Russell Investments Group Ltd. now owns 21,284 shares of the company’s stock worth $466,000 after acquiring an additional 692 shares in the last quarter. 53.19% of the stock is currently owned by institutional investors.

BCML has been the subject of several recent research reports. ValuEngine upgraded shares of BayCom from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Zacks Investment Research upgraded shares of BayCom from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. Finally, B. Riley set a $28.00 price target on shares of BayCom and gave the company a “buy” rating in a research report on Friday, September 6th. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. BayCom currently has a consensus rating of “Buy” and an average price target of $26.17.

Shares of NASDAQ:BCML traded down $0.09 during trading on Thursday, reaching $22.24. The stock had a trading volume of 25,098 shares, compared to its average volume of 22,734. The firm’s fifty day moving average is $21.98 and its 200 day moving average is $22.25. BayCom has a 52 week low of $17.19 and a 52 week high of $25.00. The stock has a market cap of $285.40 million, a price-to-earnings ratio of 13.48 and a beta of 0.36.

BayCom (NASDAQ:BCML) last posted its quarterly earnings data on Monday, October 28th. The company reported $0.46 EPS for the quarter, missing the Zacks’ consensus estimate of $0.56 by ($0.10). The firm had revenue of $19.87 million for the quarter, compared to the consensus estimate of $21.19 million. As a group, research analysts predict that BayCom will post 1.85 earnings per share for the current year.

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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