BayCom Corp (NASDAQ:BCML) Plans $0.10 Quarterly Dividend

BayCom Corp (NASDAQ:BCML) announced a quarterly dividend on Tuesday, August 15th, Zacks reports. Stockholders of record on Friday, September 15th will be paid a dividend of 0.10 per share on Friday, October 13th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date is Thursday, September 14th.

BayCom has a dividend payout ratio of 18.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect BayCom to earn $2.22 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 18.0%.

BayCom Trading Up 0.7 %

BCML stock traded up $0.14 during midday trading on Tuesday, reaching $19.04. 26,914 shares of the company’s stock traded hands, compared to its average volume of 37,125. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.06 and a quick ratio of 1.06. BayCom has a fifty-two week low of $15.02 and a fifty-two week high of $21.07. The business has a 50-day moving average price of $18.87 and a two-hundred day moving average price of $17.71. The company has a market capitalization of $225.22 million, a P/E ratio of 8.28 and a beta of 0.71.

BayCom (NASDAQ:BCML) last issued its earnings results on Wednesday, July 26th. The company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.05. BayCom had a net margin of 23.48% and a return on equity of 9.43%. The business had revenue of $25.37 million for the quarter, compared to the consensus estimate of $25.70 million. Equities research analysts forecast that BayCom will post 2.24 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of BCML. Alliancebernstein L.P. grew its stake in shares of BayCom by 2.9% in the second quarter. Alliancebernstein L.P. now owns 447,627 shares of the company’s stock valued at $7,466,000 after buying an additional 12,455 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in BayCom by 108.1% in the 2nd quarter. Wells Fargo & Company MN now owns 4,511 shares of the company’s stock worth $75,000 after acquiring an additional 2,343 shares during the period. Goldman Sachs Group Inc. grew its position in BayCom by 22.2% in the second quarter. Goldman Sachs Group Inc. now owns 91,474 shares of the company’s stock valued at $1,526,000 after acquiring an additional 16,648 shares in the last quarter. Royal Bank of Canada raised its stake in shares of BayCom by 12.5% during the second quarter. Royal Bank of Canada now owns 7,559 shares of the company’s stock valued at $126,000 after purchasing an additional 841 shares during the period. Finally, BlackRock Inc. lifted its position in shares of BayCom by 39.5% during the second quarter. BlackRock Inc. now owns 952,276 shares of the company’s stock worth $15,884,000 after purchasing an additional 269,741 shares in the last quarter. Institutional investors and hedge funds own 57.09% of the company’s stock.

BayCom Company Profile

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 also 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.