BayCom Corp (NASDAQ:BCML) to Issue Quarterly Dividend of $0.15

BayCom Corp (NASDAQ:BCML) announced a quarterly dividend on Thursday, November 21st,Wall Street Journal reports. Stockholders of record on Thursday, December 12th will be paid a dividend of 0.15 per share on Friday, January 10th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date of this dividend is Thursday, December 12th. This is a boost from BayCom’s previous quarterly dividend of $0.10.

BayCom has a dividend payout ratio of 18.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect BayCom to earn $2.25 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 17.8%.

BayCom Stock Up 3.1 %

Shares of BCML stock opened at $28.43 on Friday. The company’s fifty day simple moving average is $24.75 and its two-hundred day simple moving average is $22.42. BayCom has a 52 week low of $18.54 and a 52 week high of $28.62. The stock has a market cap of $316.14 million, a P/E ratio of 13.54 and a beta of 0.76. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.22.

BayCom (NASDAQ:BCML) last issued its quarterly earnings results on Thursday, October 17th. The company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.07. The firm had revenue of $25.61 million during the quarter, compared to analyst estimates of $23.70 million. BayCom had a return on equity of 7.56% and a net margin of 17.22%. Analysts predict that BayCom will post 2.06 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, Hovde Group lifted their price objective on shares of BayCom from $26.00 to $28.00 and gave the stock an “outperform” rating in a research note on Friday, October 18th.

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 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.