Rhumbline Advisers cut its stake in BayCom Corp (NASDAQ:BCML – Free Report) by 28.0% in the 4th quarter, Holdings Channel reports. The firm owned 16,708 shares of the company’s stock after selling 6,497 shares during the period. Rhumbline Advisers’ holdings in BayCom were worth $448,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of the business. State Street Corp increased its stake in shares of BayCom by 0.5% in the 3rd quarter. State Street Corp now owns 163,965 shares of the company’s stock worth $3,906,000 after acquiring an additional 880 shares in the last quarter. Captrust Financial Advisors boosted its holdings in shares of BayCom by 4.4% during the 3rd quarter. Captrust Financial Advisors now owns 23,361 shares of the company’s stock valued at $554,000 after acquiring an additional 978 shares during the last quarter. Empowered Funds LLC boosted its holdings in shares of BayCom by 4.9% during the 4th quarter. Empowered Funds LLC now owns 34,399 shares of the company’s stock valued at $923,000 after acquiring an additional 1,604 shares during the last quarter. Martingale Asset Management L P boosted its holdings in shares of BayCom by 20.1% in the third quarter. Martingale Asset Management L P now owns 23,341 shares of the company’s stock worth $554,000 after buying an additional 3,900 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of BayCom in the fourth quarter worth approximately $120,000. 66.16% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Separately, Hovde Group cut shares of BayCom from an “outperform” rating to a “market perform” rating and set a $31.00 target price on the stock. in a research note on Wednesday, February 12th.
View Our Latest Report on BCML
BayCom Trading Down 0.3 %
BayCom stock opened at $26.18 on Friday. The stock has a market cap of $291.15 million, a P/E ratio of 12.47 and a beta of 0.82. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.04 and a quick ratio of 1.04. BayCom Corp has a 1 year low of $18.54 and a 1 year high of $30.13. The firm’s 50 day moving average price is $27.20 and its 200-day moving average price is $26.01.
BayCom (NASDAQ:BCML – Get Free Report) last announced its quarterly earnings results on Thursday, January 23rd. The company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.04. BayCom had a net margin of 17.10% and a return on equity of 7.45%. On average, equities analysts predict that BayCom Corp will post 2.48 earnings per share for the current fiscal year.
BayCom Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Thursday, March 13th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 2.29%. The ex-dividend date of this dividend is Thursday, March 13th. BayCom’s payout ratio is 28.57%.
Insider Activity
In related news, CEO George J. Guarini sold 27,000 shares of BayCom stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $27.50, for a total value of $742,500.00. Following the completion of the sale, the chief executive officer now directly owns 46,759 shares in the company, valued at $1,285,872.50. The trade was a 36.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 7.20% of the company’s stock.
About BayCom
(Free Report)
BayCom Corp operates as the bank holding company for United Business Bank that provides various financial services to small and mid-sized businesses, service professionals, and individuals. The company provides demand, savings, money market, and time deposit accounts. It offers commercial and multifamily 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
Want to see what other hedge funds are holding BCML? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BayCom Corp (NASDAQ:BCML – Free Report).
Receive News & Ratings for BayCom Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for BayCom and related companies with MarketBeat.com’s FREE daily email newsletter.
