The average one-year price target for BayCom (NASDAQ:BCML) has been revised to 23.63 / share. This is an increase of 7.75% from the prior estimate of 21.93 dated July 5, 2023.
The price target is an average of many targets provided by analysts. The latest targets range from a low of 22.22 to a high of 25.20 / share. The average price target represents an increase of 17.21% from the latest reported closing price of 20.16 / share.
BayCom Declares $0.10 Dividend
On May 18, 2023 the company declared a regular quarterly dividend of $0.10 per share ($0.40 annualized). Shareholders of record as of June 16, 2023 received the payment on July 14, 2023. Previously, the company paid $0.10 per share.
At the current share price of $20.16 / share, the stock's dividend yield is 1.98%.
Looking back five years and taking a sample every week, the average dividend yield has been 2.01%, the lowest has been 0.86%, and the highest has been 3.85%. The standard deviation of yields is 0.72 (n=235).
The current dividend yield is 0.03 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.16. 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's 3-Year dividend growth rate is 0.14%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 224 funds or institutions reporting positions in BayCom. This is a decrease of 11 owner(s) or 4.68% in the last quarter. Average portfolio weight of all funds dedicated to BCML is 0.05%, a decrease of 23.59%. Total shares owned by institutions decreased in the last three months by 5.47% to 8,544K shares. 
The put/call ratio of BCML is 0.01, indicating a bullish outlook.
What are Other Shareholders Doing?
Wellington Management Group Llp holds 1,063K shares representing 9.01% ownership of the company. In it's prior filing, the firm reported owning 860K shares, representing an increase of 19.08%. The firm increased its portfolio allocation in BCML by 9.91% over the last quarter.
Royce & Associates holds 678K shares representing 5.75% 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 10.34% over the last quarter.
Manufacturers Life Insurance Company, The holds 648K shares representing 5.49% 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.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 452K shares representing 3.84% ownership of the company. In it's prior filing, the firm reported owning 387K shares, representing an increase of 14.52%. The firm decreased its portfolio allocation in BCML by 2.80% over the last quarter.
Alliancebernstein holds 435K shares representing 3.69% 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.
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.
Additional reading:
- BayCom Corp Reports 2023 Second Quarter Earnings of $7.2 Million
- Form of Restricted Stock Award Agreement under the BayCom Corp Amended and Restated 2017 Omnibus Equity Incentive Plan
- Subsidiaries of the Registrant(9)
- Description of BayCom Corp’s Securities(3)
- Amended and Restated Executive Supplemental Compensation Agreement by and between United Business Bank and George J. Guarini, dated June 20, 2023
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
