Martingale Asset Management L P Has $554,000 Stock Holdings in BayCom Corp (NASDAQ:BCML)

Martingale Asset Management L P grew its stake in shares of BayCom Corp (NASDAQ:BCML) by 20.1% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 23,341 shares of the company’s stock after purchasing an additional 3,900 shares during the quarter. Martingale Asset Management L P’s holdings in BayCom were worth $554,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bank of New York Mellon Corp increased its holdings in shares of BayCom by 3.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 45,509 shares of the company’s stock worth $926,000 after acquiring an additional 1,380 shares during the last quarter. Empowered Funds LLC increased its stake in BayCom by 5.2% during the 3rd quarter. Empowered Funds LLC now owns 32,795 shares of the company’s stock worth $778,000 after acquiring an additional 1,608 shares during the period. Renaissance Technologies LLC raised its holdings in BayCom by 3.2% in the 2nd quarter. Renaissance Technologies LLC now owns 80,500 shares of the company’s stock valued at $1,638,000 after acquiring an additional 2,500 shares in the last quarter. Caldwell Sutter Capital Inc. lifted its position in shares of BayCom by 3.4% during the 3rd quarter. Caldwell Sutter Capital Inc. now owns 84,047 shares of the company’s stock valued at $1,994,000 after acquiring an additional 2,800 shares during the period. Finally, Vanguard Group Inc. grew its holdings in shares of BayCom by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 668,965 shares of the company’s stock worth $13,787,000 after purchasing an additional 2,801 shares in the last quarter. Institutional investors own 66.16% of the company’s stock.

BayCom Price Performance

Shares of BCML stock opened at $28.99 on Wednesday. BayCom Corp has a twelve month low of $18.54 and a twelve month high of $30.13. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.22. The business has a fifty day simple moving average of $25.51 and a 200 day simple moving average of $22.88. The company has a market cap of $322.37 million, a P/E ratio of 13.80 and a beta of 0.79.

BayCom (NASDAQ:BCML) last announced its quarterly earnings results on Thursday, October 17th. The company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.07. The company had revenue of $25.61 million for the quarter, compared to analyst estimates of $23.70 million. BayCom had a net margin of 17.22% and a return on equity of 7.56%. On average, sell-side analysts forecast that BayCom Corp will post 2.06 EPS for the current fiscal year.

BayCom Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Thursday, December 12th will be issued a dividend of $0.15 per share. This is a boost from BayCom’s previous quarterly dividend of $0.10. This represents a $0.60 annualized dividend and a dividend yield of 2.07%. The ex-dividend date is Thursday, December 12th. BayCom’s payout ratio is 19.05%.

Analyst Upgrades and Downgrades

Separately, Hovde Group increased 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.