BayCom (BCML) Declares $0.10 Dividend
BayCom said on May 18, 2023 that its board of directors declared a regular quarterly dividend of $0.10 per share ($0.40 annualized). Previously, the company paid $0.10 per share.
Shares must be purchased before the ex-div date of June 15, 2023 to qualify for the dividend. Shareholders of record as of June 16, 2023 will receive the payment on July 14, 2023.
At the current share price of $15.75 / share, the stock's dividend yield is 2.54%.
Looking back five years and taking a sample every week, the average dividend yield has been 1.99%, the lowest has been 0.86%, and the highest has been 3.85%. The standard deviation of yields is 0.72 (n=236).
The current dividend yield is 0.76 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.18. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company has not increased its dividend in the last three years.
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What is the Fund Sentiment?
There are 227 funds or institutions reporting positions in BayCom. This is a decrease of 9 owner(s) or 3.81% in the last quarter. Average portfolio weight of all funds dedicated to BCML is 0.05%, a decrease of 21.54%. Total shares owned by institutions decreased in the last three months by 7.19% to 8,552K shares.
Analyst Price Forecast Suggests 42.48% Upside
As of May 11, 2023, the average one-year price target for BayCom is 22.44. The forecasts range from a low of 20.20 to a high of $24.68. The average price target represents an increase of 42.48% from its latest reported closing price of 15.75.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for BayCom is 107MM, an increase of 4.68%. The projected annual non-GAAP EPS is 2.58.
What are Other Shareholders Doing?
Wellington Management Group Llp holds 1,063K shares representing 8.64% ownership of the company. In it's prior filing, the firm reported owning 860K shares, representing an increase of 19.08%. The firm decreased its portfolio allocation in BCML by 84.49% over the last quarter.
Royce & Associates holds 678K shares representing 5.51% ownership of the company. In it's prior filing, the firm reported owning 648K shares, representing an increase of 4.41%. The firm decreased its portfolio allocation in BCML by 9.85% over the last quarter.
Manufacturers Life Insurance Company, The holds 648K shares representing 5.27% ownership of the company. In it's prior filing, the firm reported owning 679K shares, representing a decrease of 4.88%. The firm decreased its portfolio allocation in BCML by 23.14% over the last quarter.
Alliancebernstein holds 435K shares representing 3.54% ownership of the company. In it's prior filing, the firm reported owning 418K shares, representing an increase of 3.87%. The firm decreased its portfolio allocation in BCML by 24.57% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 387K shares representing 3.14% ownership of the company. No change in the last quarter.
BayCom Background Information
(This description is provided by the company.)
BayCom Corp operates as the bank holding company for United Business Bank that provides various financial services to businesses, business owners, and individuals. The company offers demand, savings, money market, and time deposit accounts. It also provides 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.
Key filings for this company:
This story originally appeared on Fintel.