BayCom Corp (NASDAQ:BCML) shares purchased by Assenagon Asset Management SA
Assenagon Asset Management SA increased its stake in BayCom Corp (NASDAQ: BCML – Get a rating) by 85.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The company held 39,982 shares of the company after purchasing an additional 18,471 shares during the quarter. Assenagon Asset Management SA owned approximately 0.29% of BayCom worth $870,000 at the end of the last reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of BCML. Royce & Associates LP increased its position in BayCom by 7.2% in the 4th quarter. Royce & Associates LP now owns 254,131 shares of the company worth $4,767,000 after purchasing an additional 17,149 shares last quarter. Victory Capital Management Inc. increased its position in BayCom by 30.1% in the fourth quarter. Victory Capital Management Inc. now owns 169,247 shares of the company worth $3,175,000 after purchasing an additional 39,110 shares in the last quarter. Acadian Asset Management LLC increased its position in BayCom by 4.6% in the fourth quarter. Acadian Asset Management LLC now owns 57,665 shares of the company worth $1,079,000 after purchasing 2,523 additional shares last quarter. Petiole USA ltd acquired a new stake in BayCom in the 4th quarter for a value of approximately $1,485,000. Finally, Greenwich Investment Management Inc. acquired a new stake in BayCom in Q4 worth approximately $1,369,000. Institutional investors and hedge funds hold 47.13% of the company’s shares.
Analyst upgrades and downgrades
Separately, Hovde Group raised its price target on BayCom to $28.00 in a Thursday, May 26 research report.
BayCom trades up 2.8%
Shares of NASDAQ: BCML opened at $20.61 on Friday. BayCom Corp has a 1-year low of $16.47 and a 1-year high of $23.53. The company has a market capitalization of $282.15 million, a price-earnings ratio of 10.20 and a beta of 0.76. The company has a debt ratio of 0.22, a current ratio of 1.05 and a quick ratio of 1.05. The company’s 50-day moving average price is $21.66 and its 200-day moving average price is $21.60.
Bay Com (NASDAQ: BCML – Get a rating) last announced its results on Thursday, April 21. The company reported earnings per share (EPS) of $0.51 for the quarter, beating consensus analyst estimates of $0.36 by $0.15. BayCom had a return on equity of 8.26% and a net margin of 22.74%. The company posted revenue of $26.75 million for the quarter, versus analyst estimates of $24.30 million. On average, equity research analysts expect BayCom Corp to post earnings per share of 2.34 for the current fiscal year.
BayCom announces dividend
The company also recently announced a quarterly dividend, which was paid on Friday, July 15. Shareholders of record on Friday, June 17 received a dividend of $0.05 per share. The ex-dividend date was Thursday, June 16. This represents a dividend of $0.20 on an annualized basis and a dividend yield of 0.97%. BayCom’s dividend payout ratio (DPR) is 9.90%.
BayCom Company Profile
BayCom Corp operates as a bank holding company for United Business Bank which provides various financial services to small and medium businesses, service professionals and individuals. The company offers current, savings, money market and term accounts. It also offers commercial and multi-family real estate loans, including home loans for homeowners and investors; 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 including installment loans, secured and unsecured personal lines of credit and overdraft protection.
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