Wellington Management Group LLP raised its stake in BayCom Corp (NASDAQ:BCML - Free Report) by 41.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 930,498 shares of the company's stock after purchasing an additional 273,135 shares during the quarter. Wellington Management Group LLP owned about 8.36% of BayCom worth $24,975,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. PNC Financial Services Group Inc. increased its holdings in shares of BayCom by 46.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,347 shares of the company's stock valued at $36,000 after acquiring an additional 428 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in BayCom by 3,097.3% in the 4th quarter. Russell Investments Group Ltd. now owns 3,613 shares of the company's stock worth $97,000 after acquiring an additional 3,500 shares in the last quarter. SG Americas Securities LLC acquired a new position in BayCom in the 4th quarter worth about $120,000. Wells Fargo & Company MN increased its position in BayCom by 27.8% during the fourth quarter. Wells Fargo & Company MN now owns 6,141 shares of the company's stock worth $165,000 after buying an additional 1,337 shares during the last quarter. Finally, Deutsche Bank AG raised its holdings in BayCom by 31.1% in the 4th quarter. Deutsche Bank AG now owns 6,444 shares of the company's stock worth $173,000 after acquiring an additional 1,529 shares during the period. 66.16% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several analysts have recently weighed in on the company. Wall Street Zen raised BayCom from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Hovde Group cut shares of BayCom from an "outperform" rating to a "market perform" rating and set a $31.00 price target on the stock. in a research report on Wednesday, February 12th.
Read Our Latest Stock Analysis on BayCom
BayCom Stock Performance
NASDAQ:BCML traded down $0.11 during mid-day trading on Wednesday, hitting $26.41. 19,782 shares of the stock were exchanged, compared to its average volume of 24,981. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a market capitalization of $290.69 million, a price-to-earnings ratio of 12.58 and a beta of 0.54. BayCom Corp has a fifty-two week low of $18.54 and a fifty-two week high of $30.13. The firm's 50-day simple moving average is $26.07 and its 200 day simple moving average is $26.83.
BayCom (NASDAQ:BCML - Get Free Report) last posted its quarterly earnings results on Thursday, April 17th. The company reported $0.51 EPS for the quarter, missing analysts' consensus estimates of $0.52 by ($0.01). The business had revenue of $32.65 million for the quarter, compared to analyst estimates of $24.07 million. BayCom had a return on equity of 7.45% and a net margin of 17.10%. As a group, equities analysts anticipate that BayCom Corp will post 2.48 EPS for the current fiscal year.
BayCom Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Thursday, June 12th will be paid a $0.20 dividend. This is a positive change from BayCom's previous quarterly dividend of $0.15. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date is Thursday, June 12th. BayCom's payout ratio is currently 38.10%.
BayCom Profile
(
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.
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