BayCom Corp (BCML) to Distribute Quarterly Dividend of $0.20 on July 10th

BayCom Corp (NASDAQ:BCML) announced a quarterly dividend on Wednesday, May 21st, RTT News reports. Stockholders of record on Thursday, June 12th will be paid a dividend of 0.20 per share on Thursday, July 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.01%. This is a 33.3% increase from BayCom’s previous quarterly dividend of $0.15.

BayCom has a payout ratio of 23.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect BayCom to earn $2.53 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 23.7%.

BayCom Stock Performance

Shares of BCML stock opened at $26.56 on Friday. BayCom has a 12 month low of $18.54 and a 12 month high of $30.13. The stock has a market cap of $292.35 million, a PE ratio of 12.65 and a beta of 0.54. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.22. The company’s fifty day moving average price is $25.90 and its 200-day moving average price is $26.86.

BayCom (NASDAQ:BCML) last announced its 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). BayCom had a net margin of 17.10% and a return on equity of 7.45%. The business had revenue of $32.65 million for the quarter, compared to the consensus estimate of $24.07 million. On average, equities analysts expect that BayCom will post 2.48 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO George J. Guarini sold 27,000 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $27.50, for a total value of $742,500.00. Following the transaction, the chief executive officer now owns 46,759 shares in the company, valued at $1,285,872.50. The trade was a 36.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 6.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On BayCom

A hedge fund recently raised its stake in BayCom stock. Empowered Funds LLC raised its stake in shares of BayCom Corp (NASDAQ:BCML) by 8.2% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 37,226 shares of the company’s stock after acquiring an additional 2,827 shares during the period. Empowered Funds LLC owned approximately 0.34% of BayCom worth $937,000 as of its most recent SEC filing. 66.16% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on BCML. Wall Street Zen upgraded shares of BayCom from a “sell” rating to a “hold” rating in a report on Thursday. 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 note on Wednesday, February 12th.

About BayCom

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.