BlackRock Maintains 9.0% Stake in BayCom Corp
Ticker: BCML · Form: SC 13G/A · Filed: Jan 25, 2024 · CIK: 1730984
| Field | Detail |
|---|---|
| Company | Baycom Corp (BCML) |
| Form Type | SC 13G/A |
| Filed Date | Jan 25, 2024 |
| Risk Level | low |
| Sentiment | bullish |
Complexity: simple
Sentiment: bullish
Topics: institutional-ownership, amendment, passive-investment
TL;DR
**BlackRock still owns 9.0% of BayCom Corp, showing strong institutional backing.**
AI Summary
BlackRock, Inc. filed an amended SC 13G/A on January 25, 2024, disclosing its ownership in BayCom Corp (NASDAQ: BCML) as of December 31, 2023. This filing indicates BlackRock's continued significant stake in the regional bank, holding 1,010,757 shares, which represents 9.0% of BayCom Corp's Common Stock. This matters to investors because BlackRock, as a major institutional investor, signals confidence in BayCom Corp's long-term prospects, potentially influencing other investors and the stock's stability.
Why It Matters
BlackRock's continued substantial ownership in BayCom Corp suggests institutional confidence, which can be a positive signal for current and prospective shareholders.
Risk Assessment
Risk Level: low — This filing indicates a stable, significant institutional ownership, which generally reduces volatility and provides a floor for the stock.
Analyst Insight
Investors should view BlackRock's continued substantial ownership as a vote of confidence, potentially indicating stability and long-term value in BayCom Corp. This could be a factor to consider when evaluating the stock for a long-term portfolio.
Key Numbers
- 1,010,757 — Shares Beneficially Owned (Represents BlackRock's total stake in BayCom Corp as of December 31, 2023.)
- 9.0% — Percentage of Class (Indicates BlackRock's significant ownership percentage of BayCom Corp's Common Stock.)
Key Players & Entities
- BlackRock, Inc. (company) — the reporting person and institutional investor
- BayCom Corp (company) — the subject company whose securities are being reported
- 1,010,757 shares (dollar_amount) — the total number of shares beneficially owned by BlackRock
- 9.0% (dollar_amount) — the percentage of BayCom Corp's class of securities owned by BlackRock
- December 31, 2023 (date) — the date of the event which required the filing of this statement
Forward-Looking Statements
- BlackRock will maintain a significant stake in BayCom Corp, likely above 5%, for the foreseeable future. (BlackRock, Inc.) — high confidence, target: December 31, 2024
FAQ
What is the purpose of an SC 13G/A filing?
An SC 13G/A is an amendment to a Schedule 13G, filed by an institutional investor (like BlackRock) to report beneficial ownership of 5% or more of a company's stock, indicating a passive investment intent. The '/A' signifies it's an amendment to a previously filed statement, updating the ownership information as of December 31, 2023.
Who is the reporting person in this SC 13G/A filing?
The reporting person is BlackRock, Inc., a major asset management firm, as stated in the 'Names of reporting persons' section of the filing.
What is the subject company whose shares are being reported?
The subject company is BayCom Corp, identified under 'Name of Issuer' and with the CIK 0001730984, a state commercial bank.
What percentage of BayCom Corp's Common Stock does BlackRock, Inc. beneficially own according to this filing?
BlackRock, Inc. beneficially owns 9.0% of BayCom Corp's Common Stock, as indicated in the filing's summary table.
What was the 'Date of Event Which Requires Filing of this Statement'?
The 'Date of Event Which Requires Filing of this Statement' was December 31, 2023, as specified on the cover page of the SC 13G/A filing.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on January 25, 2024 regarding BayCom Corp (BCML).