BayCom Corp (NASDAQ:BCML) Raises Dividend to $0.15 Per Share

BayCom Corp (NASDAQ:BCML) announced a quarterly dividend on Tuesday, November 19th,Wall Street Journal reports. Shareholders of record on Thursday, December 12th will be given a dividend of 0.15 per share on Friday, January 10th. This represents a $0.60 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date is Thursday, December 12th. This is a boost from BayCom’s previous quarterly dividend of $0.10.

BayCom has a dividend payout ratio of 27.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect BayCom to earn $2.25 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 26.7%.

BayCom Trading Up 0.3 %

Shares of BCML opened at $29.05 on Tuesday. BayCom has a fifty-two week low of $18.54 and a fifty-two week high of $30.13. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.04 and a current ratio of 1.04. The company’s fifty day moving average is $26.05 and its 200 day moving average is $23.18. The stock has a market capitalization of $323.07 million, a PE ratio of 13.83 and a beta of 0.79.

BayCom (NASDAQ:BCML) last issued its quarterly earnings data on Thursday, October 17th. The company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.07. BayCom had a return on equity of 7.56% and a net margin of 17.22%. The company had revenue of $25.61 million for the quarter, compared to analysts’ expectations of $23.70 million. Sell-side analysts expect that BayCom will post 2.06 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

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.