BayCom (BCML) Rewards Investors With New Share Buyback Plan

分组1 - BayCom Corp. announced its ninth stock repurchase program, authorizing the buyback of 0.56 million shares, which will commence after the current plan expires on April 21, 2025, or when all authorized shares are repurchased [1] - The company also declared a quarterly cash dividend of 10 cents per share, with a dividend yield of 1.96% based on the last closing price of $20.36 [1] - Over the past five years, BayCom has increased its quarterly dividend once, with a 100% increase announced in February 2023 [1] 分组2 - As of March 31, 2024, BayCom has a total debt of $72.2 million and cash and cash equivalents of $348.3 million, indicating a solid balance sheet and robust liquidity position [2] - The company has completed 10 acquisitions since 2010, with total assets of nearly $2.3 billion and total deposits of approximately $1.9 billion, supporting its growth strategy [2] - BayCom opened a new branch in Las Vegas last year to expand its regional footprint and support deposit and loan growth [2][3] 分组3 - Over the past six months, BayCom shares have decreased by 3.2%, while the industry has grown by 7.9% [5] - Currently, BayCom carries a Zacks Rank 5 (Strong Sell) [5] 分组4 - Other banks, such as WaFd, Inc. and TrustCo Bank Corp NY, have also announced new share repurchase programs, indicating a trend in the banking sector towards rewarding shareholders [6]